OncoHealth Secures Strategic Investments from Arsenal Capital Partners & McKesson Corporation
OncoHealth announced today that Arsenal Capital Partners and McKesson Corporation have strategically invested in the company. The funding, which gives Arsenal a majority ownership stake in OncoHealth, will help the company continue developing its oncology-focused digital health platform.
John DiGiovanni, an Investment Partner at Arsenal said of the investment, “Arsenal is focused on helping to build businesses that are tackling healthcare’s most pressing challenges.” He continued, “…OncoHealth is removing administrative burdens for health plans and providers, facilitating stakeholder alignment, and improving the patient experience.”
Brian Tyler, CEO of McKesson Corporation, said, “Oncology is a critical part of our company’s growth strategy, and we are deeply committed to addressing unmet needs in this space.” Tyler went on to comment on the strength of McKesson’s oncology ecosystem. “Together with Ontada, our oncology technology and insights business, and OncoHealth’s digital expertise, we’ll be able to further deliver insights, products, and services that make quality of care more accessible to cancer patients.”
Today, OncoHealth works with 16 health plans, 2,900 providers, and five life science partners. Over the past three years alone, it has expanded its customer base by over 600% and increased revenue 45% year over year.
Read the full press release about OncoHealth’s new strategic investments here.