Somatus, a McLean, Virginia-based kidney care company, raised $325M in Series E funding, at a valuation of over $2.5 billion.
The round, which brings the total capital raised by the company to nearly $500m, was led by Wellington Management, with participation from RA Capital Management, GIC, Fidelity Management & Research Company, Anthem, Blue Venture Fund, Deerfield Management Company, Flare Capital Partners, Inova Health System, Longitude Capital, and Optum Ventures.
The company intends to use the funds to further the reach and impact of its value-based kidney care model.
Led by CEO Dr. Ikenna Okezie, Somatus provides integrated care for patients with, or at risk of developing, kidney disease. The company’s vertically integrated clinical services and technology aim to delay or prevent disease progression, improve quality and care coordination, and increase the use of home dialysis modalities and rates of kidney transplantation.
Through the use of its proprietary technology, multi-disciplinary community-based care teams, and partnerships with nephrologists and primary care physicians, Somatus has built a model focused on prevention and awareness that empowers all people with kidney disease to take control of their health.
In 2021, the company launched six new health plan partners and established value-based partnerships with multiple provider groups. Somatus also grew membership and reach with its current clients and added more than 1,000 team members, bringing its total teammate count to more than 1,350. In 2022, the company will serve over 150,000 members in 34 states, across Medicare, Medicare Advantage, Medicaid, and Commercial plans.
FinSMEs
24/02/2022