Thyme Care Banks $97M to Accelerate Value-Based Cancer Care
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Thyme Care was featured in MedCity News for securing $97 million in Series D funding to accelerate its value-based cancer care platform. MedCity News The article highlights that the round included backing from investors such as CVS Health Ventures, Morgan Health, Humana, Foresite Capital, and others—bringing total funding to $275 million. Preview below:
Thyme Care, a value-based cancer care company, has secured $97 million in Series D funding to scale its platform to more patients, it announced on Thursday.
Nashville, Tennessee-based Thyme Care, founded in 2020, partners with health plans, employers and risk-bearing providers to support patients battling cancer. It offers care navigation services, technology and data insights and therapeutic interventions. The company helps patients understand their diagnosis, find a cancer doctor and receive clinical care between appointments. Patients also gain access to a team of providers, nurses and resource specialists. Its services are available to 8 million people across all 50 states.
The Series D round included participation from CVS Health Ventures, Foresite Capital, a16z Bio + Health, Concord Health Partners, Town Hall Ventures, AlleyCorp, Frist Cressey Ventures, Morgan Health, Humana, Texas Oncology and Memorial Hermann Health System. In total, Thyme Care has raised $275 million.
“Employers increasingly identify cancer as a top driver of their health care spend. At the same time, they care deeply about offering their employees access to high-quality, personalized cancer care – given the heavy burden that a diagnosis places on patients and their families,” said Dan Mendelson, CEO of Morgan Health, in a statement. “Thyme Care can balance these needs and is already making early progress with Fortune 500 companies. They’ve demonstrated better coordination of patient care, improved outcomes and reduced costs.”
With the financing, the company is expanding its payer contracts to new geographies, growing its oncology partnerships, scaling to more employers and health systems and investing in AI and technology, according to Dr. Brad Diephuis, Thyme Care president and COO.