Thyme Care, a value-driven most cancers care firm, has raised $95 million in Sequence C funding, which it should use to develop its enterprise, the corporate introduced Tuesday.

Based in 2020, Nashville, Tennessee-based Thyme Care companions with well being insurers, employers and risk-bearing suppliers to help sufferers battling most cancers in 31 states. It provides care navigation providers, expertise and information insights, and therapeutic interventions. The corporate helps sufferers perceive their prognosis, discover a most cancers physician and obtain scientific care between appointments. Sufferers additionally acquire entry to a workforce of suppliers, nurses and useful resource specialists. Thyme Care providers will be accessed through cellphone, textual content, e-mail and video.

The $95 million capital elevate contains $55 million in fairness from Harmony Well being Companions, CVS Well being Ventures, City Corridor Ventures, a16z Bio+Well being, AlleyCorp, Echo Well being Ventures, Frist Cressey Ventures and Foresite Capital. Banc of California supplied $40 million in debt financing. In whole, Thyme Care raised $178 million.

Harmony Well being Companions invested in Thyme Care as a result of it will possibly enhance affected person care and scale back prices.

“Thyme Care’s capability to enhance affected person outcomes and decrease the entire value of care is straight aligned with our mission at Harmony to help best-in-class firms with options that enhance high quality, develop entry and decrease the price of care,” stated James Olsen, founder and managing companion at Harmony, in a press release. “Their provider-led interventions focusing on the explosion in oncology drug spending and acute care utilization spotlight their distinctive strategy to system-wide affordability, and their deep partnerships in most cancers care spotlight their confirmed success.”

The funding will assist Thyme Care scale its enterprise via new providers and extra partnerships with risk-bearing entities, stated Robin Shah, co-founder and CEO of Thyme Care. Thyme Care presently manages greater than half a billion {dollars} in medical spend via its risk-based contracts and expects to triple that quantity inside the subsequent yr. The corporate has additionally doubled its oncology partnerships up to now six months and plans to develop nationwide by signing new contracts with well being insurers, employers and first care teams that bear monetary threat.

“Given the pace of our development, it's all the time good to have some quantity of capital to help that development in order that we're not ready the place we will't ship efficiently for our companions. So it's about investing in that partnership earlier than we go stay,” Shah stated in an interview.

There’s a want for better help for most cancers care: international spending on most cancers medicines is predicted to achieve $375 billion in 2027, up from $196 billion in 2022. Moreover, most cancers impacts all populations, however sufferers with socioeconomic limitations face explicit problem accessing and affording care.

Thyme Care's final objective is to “assist as many most cancers sufferers as doable,” Shah stated.

“This fundraise, like our earlier fundraises, was all about organising the corporate to have the ability to develop and develop and assist extra folks. … And this fundraise will permit us to draw extra nice expertise to assist extra folks throughout the nation and finally develop the mannequin that we began constructing 4 years in the past,” Shah stated.

Different firms that present most cancers care help embody OncoveryCare and Maia Oncology.

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