Reimagine Care Secures $25 Million in Series A Funding to Drive Commercialization of Home-Centered, Value-Based Cancer Care
Technology-enabled service provider Reimagine Care is a leader in promoting support for oncologists by delivering valuable, home-centered cancer care. It recently announced that a $25 million capital raise has been completed. Led by LRVHealth, Santé Ventures, and Martin Ventures, the funding will be utilized to advance development of the company’s technology-enabled service platform, which is the first of its kind. The funding will also grow the patient care team and launch the virtual care center. Multiple strategic investors participated in the financing round, including McKesson Ventures.
Reimagine Care Co-founder and CEO Aaron Gerber, MD, thanked the companies that supported financing, saying “We’re honored to partner with these experienced financial and strategic investors who share our belief that the time is now to move away from the status quo way of delivering cancer care which hasn’t adapted to a virtual, digital world and move towards providing a better experience for the millions of patients who deal with this horrible disease each year.”
Reimagine Care wants to make “hospital at home” care a part of standard cancer treatment.
The Series A funding arrives at an important time, as cancer care prices are rising at a notable pace, taking up a growing portion of commercial insurance and Medicare costs. Studies show that 1.8 million patients were diagnosed with the disease in 2020, and the total cost of cancer care was $175 billion in the U.S. Movement towards patient-centered care has increased worries about cost, with a recent survey showing that 95 percent of patients wanted to have chemotherapy in their home rather than at a facility.
Healthcare executives seem to agree, with recent surveys confirming that 66 percent of executives think that home-centered oncology is a growing market. Sixty percent noted that they were concerned their organization may fall behind if they don’t implement a home-centered approach soon.
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