Houston-based Memorial Hermann Health System backed tech-focused, value-based care company Wellvana Health in an $84 million funding round.
The startup provides health systems and other healthcare organizations with a data-driven population health platform, a coding and quality assurance team, and care management coordinators to help them shift from fee-for-service to value-based contracts.
The capital raise, which brings Wellvana's total funding since 2020 to more than $140 million, was led by venture capital firms Heritage Group and Valtruis.
"Memorial Hermann is committed to its transition to value-based care, which includes the delivery of safe, high-quality care and outcomes and exceptional experiences for all of the patients we serve," said Feby Abraham, PhD, Memorial Hermann's executive vice president and chief strategy officer, in a March 27 news release. "We view our investment in Wellvana as an investment in that transition and in the future of healthcare."