Carlyle leads USD175 million round into Grand Rounds
Grand Rounds, a healthcare quality and clinical navigation company, has secured a USD175 million round led by investment funds affiliated with global investment firm The Carlyle Group.
The healthcare focused company will use the funds to accelerate clinical navigation and virtual primary care. Grand Rounds has raised over USD270 million to date.
“We are at a turning point in American healthcare, a moment when healthcare has become virtual-first and data can be used to dramatically improve outcomes,” said Owen Tripp, co-founder and chief executive officer of Grand Rounds.
“Since our founding, Grand Rounds has helped millions navigate their way through the complex US healthcare system, serving as the personal healthcare assistant to support whole-person care,” added Tripp.
The company, which covers six million lives across more than 130 large, self-insured employers, has undergone a period of rapid growth recently.
In addition to launching new virtual offerings to enable access to care amidst COVID-19, Grand Rounds has expanded its relationships with the The Home Depot, Walmart, Salesforce and Travelers. Over the past year, the company has increased its covered lives by 55 percent.
“Digital health has grown rapidly in recent years due to the significant disruption and innovation it brings to the healthcare industry,” said Robert Schmidt, a principal specialising in healthcare at The Carlyle Group.
He continued: “Healthcare navigation, in particular, is playing a pivotal role in addressing every facet of an individual’s healthcare journey, at scale, by increasing access to high-quality care while reducing overall costs. We are excited to support Owen and his team at Grand Rounds, given their impressive track record of improving patient outcomes, as they build, grow and seek to improve the quality of healthcare for everyone, everywhere.”
Carlyle’s healthcare investments include One Medical, MedRisk, Albany Molecular Research, PPD, Multiplan and Rede D'Or São Luiz.