Hybrid healthcare company Carbon Health has announced funding of $100 million from CVS Health Ventures, CVS Health’s corporate venture capital platform, as part of an initial close of its Series D round.
The funding will enable Carbon Health to scale its ‘Connective Care’ model into new geographies, sign new value-based care arrangements, and invest in technology as it aims to be a national leader in primary and urgent care.
The core elements of the Connective Care model include SMART goal setting, measurement-led care, an integrated team and in-person and virtual access.
Carbon Health has more than 125 physical locations in 13 states, widespread virtual care coverage, and an average NPS of 85. Where typical primary care is anchored in a visit, Carbon Health Connective Care blends easy-to-use software and expert care so every patient can establish a relationship with their own integrated team, monitor and manage their health on the go, and access in-person care when and where they need it.
In addition to the investment, CVS Health will also pilot the Carbon Health operating model inside select existing CVS Health locations, leveraging the Carbon Health model and software to help power the patient experience for CVS consumers.
“This pilot will allow us to explore Carbon Health’s potential to advance the retail health experience, connecting consumers to care where and when they need it with a simple and engaging user-driven experience that can be adapted and delivered across our platform,” said Vijay Patel, Managing Partner and co-founder of CVS Health Ventures.
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