AllyAlign Health Announces Strategic Growth Investment Funding from McKesson Ventures
AllyAlign Health, an administrator of Medicare Advantage special needs plans that benefit long-term care providers, announced today that it had closed a $10 million strategic funding round led by McKesson Ventures. Existing investors Heritage Healthcare Innovation Fund, Health Enterprise Partners, and the Ziegler LinkAge Fund II also participated in the round.
AllyAlign partners with long-term care providers to improve care for elderly patients and helps providers flourish during the ongoing transition to value-based care. It does so by offering a technology platform that streamlines and coordinates care, allowing patients a more seamless treatment experience during care transitions. By providing the infrastructure, clinical protocols, proprietary technology, and expertise, AllyAlign is helping make provider-sponsored managed care models—and its provider partners—more profitable.
“Partnering with McKesson Ventures will speed up investment in our technology platform and infrastructure that will help us expand partnerships with valued long-term care providers in multiple markets,” said AllyAlign Founder and CEO Will Saunders.
“McKesson Ventures has been an early investor in risk-based provider models, and AllyAlign Health is the market leader in value-based long-term care,” said McKesson Ventures Managing Director Dave Schulte. “We are excited to support AAH’s rapid growth as they pioneer a better model for senior care that aligns the incentives of long-term care providers, patients, their families, and Medicare.”
This round of funding will accelerate AAH’s growth into assisted living facilities, memory care facilities, and independent living facilities. It will also support Medicare Advantage patient-centered care models.
AllyAlign President Amy Kaszak says the company’s planned expansion will focus on three trends: using Medicare Advantage to plan for the future, the changing face of senior living and the growth of Medicare Advantage, and the overall growth of Medicare Advantage enrollment.
“As Medicare has made changes in some of the services that they are now including as supplemental benefits [such as] the expansion of telehealth, in many ways I think the growth into assisted living, memory care, and even independent living, that is where we see the final bastion, or last holdout of true fee-for-service,” Kaszak told Skilled Nursing News. “And we see managed care starting to move there, and opportunities to really change the way care is delivered in senior living settings outside the [special needs population].”
This funding round brings AllyAlign’s total capital raised to over $41 million.
See the original press release here.
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