Aledade, the largest network of independent primary care practices in the US, has successfully concluded a Series F funding round, raising an impressive $260 million.
Led by Lightspeed Venture Partners and featuring participation from Venrock, Avidity Partners, OMERS Growth Equity, and Fidelity Management & Research Company, the investment will enable Aledade to enhance and acquire services and technology that support its growing primary care network.
With over 1,500 independent primary care practices across 45 states and the District of Columbia, Aledade has emerged as a driving force in value-based care.
The companies over 150 value-based care contracts cover two million patients and over $20 billion in healthcare spending. Aledade’s goal is to give primary care providers accountability for the quality and total cost of care, ultimately reshaping the American healthcare system.
Fueling growth and strategic alliances
The funds raised in this financing round will further accelerate Aledade’s primary care network growth and strengthen its strategic alliances with national and regional health plans.
This investment will also enhance the company’s technology and support services for partner practices and their patients.
Aledade’s CEO and co-founder, Dr. Farzad Mostashari, emphasizes the importance of value-based primary care and scaling its success. He views the new financing as an opportunity to identify and acquire additional capabilities for the Aledade platform, enabling the company to deliver optimal results in value-based care consistently.
In 2022, Aledade generated over $475 million in revenue, reflecting over 50 percent growth compared to the previous year. This revenue growth directly translates to increased payments to the practices within Aledade’s network.
Since its inception, Aledade and its primary care partners have saved the US healthcare system more than $1.7 billion, demonstrating the impact of their value-based care model.
Aledade’s successful Series F funding round, led by Lightspeed Venture Partners, propels the company’s mission of delivering better care through value-based primary care practices.
The investment will empower Aledade to expand its primary care network, forge strategic alliances with health plans, and enhance the technology and support it offers its partner practices. With a strong focus on accountability and measurable outcomes, Aledade is set to continue reshaping the US healthcare landscape.