Health care company raises $375M

Locally based kidney care provider Monogram Health has secured $375 million in its latest funding round. 

Investors in the round include CVS Health, Cigna, Humana, Memorial Hermann Health System, SCAN, TPG Capital, Frist Cressey Ventures, Heritage Group, Pura Vida Investments and Norwest Venture Partners, among others. 

Monogram will use the funds to support the development of the company’s in-home treatment and case management technology for those with kidney disease and other chronic diseases with the goal of improving patient outcomes while reducing medical costs CVS, Cigna and Memorial Hermann Health System are new investors for the funding round. According to a press release, Monogram’s investor base now includes companies that serve more than 30 percent of Medicare Advantage members nationally.

“At Monogram Health we actively manage patients’ kidney disease and a wide range of acute and chronic conditions using our proprietary, evidence-based protocols and technology,” said Mike Uchrin, CEO and co-founder of Monogram Health. “Everything we do is designed to improve access to health care and health outcomes for polychronic patients by supporting their individual needs in their own homes, transforming the patient experience, especially for those who have been historically underserved.”

There are more than 37 million Americans who have chronic kidney disease, and Monogram, which launched in 2019, cares for patients in 4,000 U.S. cities in 34 states, according to the release. 

In 2021, Monogram secured $160 million in Series B funding led by San Francisco-based private equity firm TPG Capital and initial investors Frist Cressey Ventures and Norwest Venture Partners. 

In 2022, Monogram had two shifts in its C-suite, naming a new chief administrative officer and chief compliance officer as well as a chief financial officer.