Employer Direct Healthcare, a community firm for employers who self-fund healthcare protection, introduced it garnered $92 million in secondary funding from Perception Companions, bringing its valuation to $1 billion. 

Current traders Redmile Group, Dundon Capital and Serent Capital will proceed to obtain possession curiosity within the enterprise. 

The corporate additionally introduced the hiring of quite a few members of its government group. 

Jamie McLeod will be part of the corporate as its new chief development officer. McLeod beforehand held senior roles at One Medical and Virgin Pulse.

Jeremy Leventhal, previously a senior product chief at Hinge Health and Springbuk, shall be its chief product officer. 

Amy Dudley, now head of communications, beforehand labored with then-Vice President Joe Biden, U.S. Senator Tim Kaine and the Chan Zuckerberg Initiative, and Nicki MacManus, basic supervisor of the corporate’s oncology resolution, beforehand held government roles at CVS.

WHAT IT DOES

Employer Direct Healthcare provides a specialty community and fee providers to employers who self-fund healthcare protection for his or her workers. 

It offers digital well being choices, together with SurgeryPlus, which connects sufferers to a community of surgeons and provides private care advocates that assist sufferers’ surgical care journey. 

The Texas-based firm additionally provides an oncology platform dubbed Most cancers Care Direct that helps information sufferers in accessing high quality oncology care with the intention of reducing prices for employers and sufferers. 

The funds shall be used to increase the Most cancers Care Direct platform and develop partnerships with different employer options, navigators and nationwide well being plans. 

“We’re grateful for Perception Companions’ important vote of confidence as we proceed to ship glorious, inexpensive and accessible specialty take care of extra communities. Additional, this funding offers a pretty consequence for a few of our earliest backers, together with TEXO Ventures, whereas bringing Perception’s world-class capabilities to bear for the way forward for the enterprise,” John Zutter, CEO of EDH, stated in a press release.  

MARKET SNAPSHOT

Final yr, Employer Direct announced it was partnering with OneOncology, a nationwide platform for neighborhood oncology practices, to assist decrease most cancers care prices for employers and supply EDH’s members with broader entry to precision medication, rising therapies and medical trials. 

One other firm working with employers on self-funded insurance coverage is California-based Carrum Health, a value-based platform that permits self-funded employers to purchase specialty care, specializing in surgical and most cancers care. 

In September, Carrum introduced it joined the White Home-led Cancer Moonshot CancerX initiative, uniting with cross-disciplinary stakeholders to drive innovation in most cancers care. 

In Might, the corporate introduced it obtained $45 million in Series B funding, which it could use to increase its oncology advantages choices and scale its surgical care service strains.