CVS, Cigna back kidney care coordination, tech startup Monogram Health's latest $375M raise

Monogram Health, a tech-enabled in-home kidney disease management company, announced Monday the close of $375 million in new funding to continue rapid deployment of its care delivery model and clinical services.

The growth funding round featured a slew of healthcare industry players: CVS Health, Cigna Ventures, Humana, Memorial Hermann Health System and SCAN. It also saw participation from new and old financial sector backers including TPG Capital, Frist Cressey Ventures, Heritage Group, Pura Vida Investments, Norwest Venture Partners and other unnamed investors.

The startup has now raised a total of $557 million, per Crunchbase, with its most recent $160 million series B having closed last June.

Nashville, Tennessee-based Monogram strikes value-based care deals with health plans and risk-bearing providers to help manage members’ chronic kidney and end-stage renal diseases.

Its approach leans on remote biometrics monitoring, algorithm-based risk prediction and medical specialist review so that patients can manage their diseases at home. Personalized care planning and data-driven insights also help those patients smoothly transition to additional services such as dialysis, palliative care or a preemptive kidney transplant, if needed.

"Everything we do is designed to improve access to health care and health outcomes for polychronic patients by supporting their individual needs in their own homes, transforming the patient experience, especially for those who have been historically underserved,” co-founder and CEO Mike Uchrin said in the funding announcement.

Monogram currently supports patients across 34 states, according to the company.

Alongside the new funds, the latest round supports the startup’s expansion plans by growing its “strategic syndicate” of healthcare industry investors. Together, Monogram’s backers serve more than 30% of the country’s Medicare Advantage members and over 40% of the total U.S. population, “uniquely positioning the company to serve those living with chronic kidney disease and their related metabolic disorders,” it wrote in the funding announcement.

Also not to be forgotten is Monogram’s cadre of former government program health plan executives and federal officials. Its board of directors includes former Centers for Medicare & Medicaid Services Administrator Seema Verma (under whom several coordinated kidney care and home dialysis programs were launched) and is chaired by former Senator Bill Frist, M.D.

“Monogram has made bold strides in offering patients and families enhanced access to much needed health services, while substantially improving the overall affordability of their care,” Frist said in a release. “This latest milestone growth funding round with substantive new and existing partners is driven by our disciplined commitment to, and demonstration of, outstanding clinical results. These better quality outcomes for patients are made possible by our transformative approach to offering in-home, evidence-based nephrology and polychronic care.”

Kidney care tech and coordination companies have been the benefactors of several big-ticket funding rounds in recent years.

Somatus, for instance, raised over $325 million in February 2022. Strive Health closed $140 million in 2021 and racked up a handful of industry partnerships in the time since.

The past summer also saw the ink dry on a $2.4 billion three-way merger of InterWell Health, Fresenius Health Partners and Cricket Health to form a value-based kidney care juggernaut operating under the former’s brand name.