Aledade, a countrywide community of impartial number one care practices, secured $260 million in Sequence F investment, which it’ll use to additional develop its community and enhance its era, the corporate lately introduced.

The Bethesda, Maryland-based corporate is a public get advantages company that is helping impartial practices, well being facilities and clinics interact in value-based care. It really works with 1,500 practices throughout 45 states and the District of Columbia, and has greater than 150 value-based contracts that quilt greater than two million sufferers. The corporate has supported a couple of million sufferers throughout the Medicare Shared Financial savings Program and nearly 250,000 sufferers via Medicare Merit contracts.

The $260 million financing spherical was once led via Lightspeed Project Companions, a brand new investor of the corporate. It additionally incorporated participation from Venrock, Avidity Companions, OMERS Expansion Fairness and Constancy Control and Analysis Corporate.

Lightspeed Project Companions selected to put money into Aledade as a result of its paintings in supporting the shift to value-based care, mentioned Dr. Galym Imanbayev, spouse on the company.

“Aledade unlocks the original energy of impartial number one care practices and well being facilities to enhance well being results for sufferers and do away with wasteful downstream prices — all whilst doing so at scale with super expansion forward,” Imanbayev mentioned in a information liberate.

With the investment, Aledade plans to proceed rising its number one care community, in addition to interact in additional strategic alliances with nationwide and regional well being plans. Along with rising its community and partnerships, Aledade can even use the financing to enhance its era and products and services it provides spouse practices, mentioned Dr. Farzad Mostashari, CEO and co-founder of Aledade, in an electronic mail.

When requested what Aledade’s go out technique is, Mostashari replied that, “At the moment, we’re fascinated by proceeding to give a boost to our spouse practices and rising the selection of practices in our nationwide community. Each and every choice we make as an organization, together with long run liquidity occasions, is made with that venture on the middle. It’s why we turned into a public get advantages company previous this 12 months.”

The fundraising information follows a sequence of bulletins from Aledade. 

In March, the corporate introduced a 10-year collaboration with Humana, which provides the insurers’ Medicare Merit individuals get entry to to number one care products and services from Aledade via value-based preparations. In a while after, Aledade introduced some other strategic alliance with CareFirst BlueCross BlueShield. Thru this alliance, the insurers’ in-network practices have get entry to to give a boost to from Aledade’s experts to assist them enhance their value-based care, reminiscent of on-site training and regulatory and coverage experience. Aledade additionally received value-based care analytics corporate Curia in February.

To this point, the principle care corporate has stored the healthcare machine greater than $1.7 billion, Mostashari claimed.

Different number one care networks come with Agilon and Oak Boulevard Well being, the latter of which was once simply received via CVS Well being.

Image: Feodora Chiosea, Getty Pictures