Funding advances leading kidney disease benefit management and care delivery company's mission to transform kidney care in the U.S.
Company welcomes TPG as lead investor of the round; Todd Sisitsky joins board of directors
NASHVILLE, Tenn., June 8, 2021 /PRNewswire/ -- Monogram Health, a benefit management and care delivery company transforming care for individuals with chronic kidney and end-stage renal disease, today announced that it has closed a $160 million Series B funding round led by TPG Capital, the private equity platform of global alternative asset firm TPG. The funding round also includes existing investors Frist Cressey Ventures and Norwest Venture Partners, as well as Humana Inc. and other notable national and regional strategic investors.
The investment will be used to fuel the company's continued rapid expansion as the leading solution for improved kidney care in the U.S. In conjunction with the investment, Todd Sisitsky, co-managing partner of TPG Capital who co-leads the platform's healthcare franchise, has joined the Monogram Health Board of Directors.
"Welcoming TPG Capital alongside noted national and regional strategic investors further validates our industry leading kidney model of care," said Senator Bill Frist, M.D., Monogram Health's board chairman. "We look forward to working with the TPG team as Monogram further solidifies its role as the preeminent leader in personalized, compassionate, and evidence-based kidney care for patients."
Based in Nashville, Tennessee, Monogram is focused exclusively on managing chronic kidney disease (CKD) and end-stage renal disease (ESRD) at home. The company partners with health plans to provide their members with an evidence-based renal care model of clinical managed services, including complex case and disease management, utilization management, and medication therapy management, to improve patient outcomes and quality of life while dramatically reducing costs for the health care system.
"Monogram is transforming one of the most complex and underserved areas of healthcare," said Sisitsky. "As someone who has supported a family member through end–stage renal disease, I witnessed first–hand the challenges and deficiencies that Monogram is addressing. I couldn't be more optimistic about the future of the company and the lives it's changing every day." Kendall Garrison, Partner at TPG Capital, continued, "Monogram's integrated care model combines data-driven solutions and in-home specialist care to deliver better outcomes for patients at a lower total cost. We're excited to partner with Senator Frist, Mike, and the rest of Monogram's industry-leading team to support the company's next phase of growth."
More than 10 percent of the U.S. adult population suffers from CKD today, though many cases go untreated until their final stages due to the shortcomings of existing care models. Leveraging the company's technology and managed services platform, Monogram's clinical team of nurses, nephrologists, dieticians, pharmacists, and social workers partner closely with a patient's entire care network to help them understand their condition, slow disease progression, and manage their unique care needs.
"Despite more than 20 percent of all Medicare spending going toward Americans with kidney disease, the population continues to grow and experience often dismal health outcomes and quality of life," said Monogram Health CEO Mike Uchrin. "Our model of care dramatically improves health outcomes and reduces spending by delivering the care and services these individuals truly need and want, right in their own homes. One by one, our patient successes are adding up to significant value for our partners and driving accelerated demand for our services."
Monogram currently operates its renal disease clinical managed services to manage benefits across 20 states in the U.S. and has built a national network of nephrologists that includes hundreds of leading kidney care specialists. In April it opened an operations center in Arizona to support its growth in Western states.
About Monogram Health
Monogram Health is a leading kidney disease benefit management and care delivery company. It provides an innovative renal care model and data-driven array of clinical managed services, including complex case and disease management, utilization management, and medication therapy management to transform the delivery of care received by patients living with chronic kidney and end-stage renal disease. Partnering with health plans, physician practices, dialysis providers, and clinically integrated health systems, Monogram Health provides patients with exceptional at-home individualized clinical managed services and nephrology care delivery. Through the use of next generation artificial intelligence, evidence-based criteria, and personalized care planning, Monogram Health's model seeks to delay the progression of the disease, promote a seamless transition to dialysis, palliative care and/or pre-emptive kidney transplant, and optimize health outcomes for patients with end-stage renal disease. Based in Nashville, Tennessee, and privately held by Frist Cressey Ventures, Norwest Venture Partners, and TPG Capital, Monogram Health currently operates its renal disease benefit management programs and in-home nephrology clinic across 20 states in the U.S. and has built a national network of nephrologists that includes hundreds of leading kidney care specialists. To learn more about Monogram Health, please visit here.
TPG is a leading global alternative asset firm founded in 1992 with more than $91 billion of assets under management and offices in Beijing, Fort Worth, Hong Kong, London, Luxembourg, Melbourne, Mumbai, New York, San Francisco, Seoul, Singapore, and Washington D.C. TPG's investment platforms are across a wide range of asset classes, including private equity, growth equity, impact investing, real estate, secondaries, and public equity. TPG aims to build dynamic products and options for its investors while also instituting discipline and operational excellence across the investment strategy and performance of its portfolio. For more information, visit www.tpg.com or @TPG on Twitter.
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SOURCE Monogram Health