Harbour Point Capital and funds affiliated with Quantum Strategic Partners have led a growth capital investment in Oak Street Health, a privately owned operator of primary care centres focused on seniors.
Oak Street Health plans to use the additional capital to fund its expansion in the Chicago area and other markets in the Midwest, so that it will have the facilities and capacity to care for more patients.
Today, Oak Street Health operates seven primary care centres in the Chicago metropolitan area, serving about 5,000 older adults. The company focuses exclusively on seniors with Medicare, with each of its centres investing in the everyday health of its patients to improve their quality of life. An investment in population-health analytics and preventive care, combined with a unique patient-centred care model, enables Oak Street Health to provide an outstanding patient experience and greatly improved clinical outcomes.
Mike Pykosz, co-founder and Chief Executive Officer of Oak Street Health, says: "We are excited to expand and bring improved care to the older adults in our communities. There are thousands more seniors in Chicago and in other parts of the Midwest who do not have access to primary care targeted to their needs. This capital raise will enable Oak Street to continue our mission of providing quality care, improved outcomes and an unmatched experience for seniors who need it most, by opening more centres and expanding our service offering. We are excited to have Harbour Point Capital and Quantum Strategic Partners as valuable partners in our growth."
“Oak Street Health’s innovative primary care model is at the nexus of population health, value-based care and rising consumerism, the three most important secular trends in health care,” says Robert Juneja, co-founder and Managing Director of New York-based Harbour Point Capital.
“We are especially pleased to partner with Oak Street Health’s founding managing team in their mission to elevate the quality of health care being delivered to the senior population,” says Bret Bowerman, a co-founder and Managing Director of Harbour Point Capital.
The amount of the investment has not been disclosed.
