A cancer care startup is making a new bet with payers and providers: only pay if it works
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STAT
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A cancer care navigation startup has raised $95 million from prominent tech investors to help payers and providers spend less on cancer patients while improving their health — including by doling out incentive payments to providers and keeping a cut of insurers’ savings.
Thyme Care’s Series C round included new investor Concord Health Partners, and repeat investors such as Town Hall Ventures, Andreessen Horowitz, Foresite Capital and CVS Health Ventures, the company told STAT exclusively. This follows its $60 million Series B, raised just about a year ago, bringing total funds to $178 million.
The size and timing of the deal suggest investors, increasingly focused on financial viability, see vast opportunity in cancer care, which, by some estimates, costs Americans hundreds of billions of dollars a year.
Thyme Care — founded and led by former Flatiron vice president Robin Shah, and its former chief medical officer Bobby Green — aims to not just slash costs, but also improve patients’ health by helping them find oncologists and get medical questions answered in between appointments, among other services. The goal, founders tell STAT, is ensuring cancer patients don’t fall through the cracks, keeping their conditions from worsening.
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