June 28, 2018

WelbeHealth Raises $15 Million Series B to Accelerate Growth of Innovative Care Programs for Seniors

MENLO PARK, Calif. — WelbeHealth, a healthcare services company delivering coordinated and value-based care to medically frail seniors, today announced that it raised a $15 million Series B financing. The financing was co-led by Longitude Capital and Ulysses Diversified Holdings (Ulysses) with participation from former Medicare Chief Andy Slavitt’s Town Hall Ventures, as well as existing investors F-Prime Capital and .406 Ventures. In conjunction with the financing, Gregory Grunberg, M.D., Managing Director of Longitude Capital, and Errik Anderson, Founder and Managing Partner of Ulysses, joined WelbeHealth’s board of directors.

“We are thrilled to have the support of our new and our existing investors,” said Si France, M.D., co-founder and CEO of WelbeHealth. “The healthcare expertise Longitude and Ulysses bring to the company will be incredibly valuable as we seek to execute our mission of serving the most vulnerable seniors with greater quality and compassion in a value-based model.”

The proceeds from the financing will be used to support the launch of WelbeHealth’s Programs of All-Inclusive Care for the Elderly (PACE), which deliver comprehensive healthcare to the most vulnerable elderly patients. PACE serves medically frail, Medicare-Medicaid eligible seniors who would otherwise qualify to live in state-funded nursing homes. WelbeHealth’s model of care leverages industry leading technologies to support highly coordinated interdisciplinary care teams and cultivates a service-oriented mentality in attending to each individual patient’s health and social needs.

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