Value-based kidney care company Strive Health announced it signed a multiyear deal with Oak Street Health, a chain of primary care clinics geared toward the Medicare population to provide care to patients suffering from stage 4 chronic kidney disease to end-stage kidney disease.
Denver-based Strive Health offers a value-based care platform that integrates chronic kidney disease and end-stage renal disease patient data from various systems into one platform. The platform evaluates disease progression and generates predictions about a patient’s condition.
The company also provides support to patients through kidney transplants and dialysis.
Strive’s offerings will be available through Chicago-based Oak Street Health’s centers in 21 states.
“We focus on delivering compassionate kidney care and Oak Street Health offers the best clinical care model for older adults, so bringing the organizations together in collaboration is a natural fit,” Will Stokes, cofounder and chief strategy officer at Strive Health, said in a statement. “Through this new, multi-year relationship, we’re committing to changing how care is delivered to people who often require more touch points along their kidney care journey.”
THE LARGER TREND
CVS Health announced its plans to acquire Oak Street Health in February. Following the announcement, Sen. Elizabeth Warren (D-Mass.) penned a letter urging the Federal Trade Commission to evaluate the planned acquisition, writing the deal could lower quality of care and hike costs.
Still, the deal closed in May, with the retail giant acquiring the Medicare-focused primary care provider in an all-cash transaction valued at around $10.6 billion.
During its second quarter 2023 earnings call earlier this month, Karen S. Lynch, CVS Health’s president, CEO and director, said that by the end of 2023, CVS will open more Oak Street clinics, which will result in the company having a presence in 25 states, up from 21.
“We will also open new Oak Street clinics co-located with CVS Pharmacies this year and have already identified additional locations for 2024. We now expect to build 50-60 clinics next year,” Lynch said.
In June, Strive Health garnered an impressive $166 million in Series C funding, which it said it would use to expand its partnerships with Medicare, commercial and Medicare Advantage payors, health systems and physicians.
The Series C round came just two years after it scored $140 million in Series B funding.
Earlier this year, it announced a partnership with not-for-profit Catholic healthcare system Trinity Health to improve kidney care for patients.
Last year, Strive partnered with nephrology group Southern California Kidney Consultants to deliver kidney care services to individuals in the Golden State.
Credit: Source link
