Tech-backed kidney illness administration startup Monogram scores $160M

Chronic kidney disease and end-stage renal disease management company Monogram Health has closed a $160 million Series B funding round led by TPG Capital.

Existing investors Frist Cressey Ventures, Norwest Venture Partners and Humana Inc. also participated in the raise.

Along with their investment, TPG Capital co-managing partner Todd Sisitsky is joining Monogram’s board of directors.

WHAT IT DOES

The Nashville, Tennessee-based company partners with health plans to offer their members a range of renal care services.

Included in its suite of services are predictive algorithms that identify at-risk members, at-home and virtual care provided by Monogram’s clinical team, personalized care pathways, remote patient monitoring capabilities, medication management technology, clinical decision support software and tools to create value-based contracts.

Monogram currently operates across 20 states in the U.S. and has built a national network of caregivers that include nurses, nephrologists, dieticians, pharmacists and social workers, according to the announcement.

“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,” Mike Uchrin, CEO of Monogram Health, said in a statement. “One by one, our patient successes are adding up to significant value for our partners and driving accelerated demand for our services.”

WHAT IT’S FOR

The investments will be used to fund company expansion, Monogram said in the release.

“Welcoming TPG Capital alongside noted national and regional strategic investors further validates our industry leading kidney model of care,” Senator Bill Frist, M.D., Monogram Health’s board chairman, said in a statement. “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.”

MARKET SNAPSHOT

As a disease that affects 37 million adults in the US, according to the National Kidney Foundation, chronic kidney disease is the focus of numerous health companies.

Clinical diagnostic company Renalytix AI recently expanded its partnership with the Joslin Diabetes Center to integrate new biomarkers for kidney disease discovered by the center’s researchers into the company’s KidneyIntelX platform.

Kidney care company Strive Health landed $140 million in Series B funding this March, with plans for company growth.

Last year pharma giant Otsuka rolled out an online resources website called NephU that offers resources about nephrology conditions and a place for clinicians to collaborate and share information amongst themselves, and with patients.

 

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