MENLO PARK — WelbeHealth, a healthcare services company delivering coordinated care to medically frail seniors, has raised $15 million in Series A funding led by F-Prime Capital and .406 Ventures.
WelbeHealth will use the financing to develop its initial market and roll out new initiatives to improve the quality of care for seniors.
“We founded this company around the mission of serving our most vulnerable seniors with greater quality and compassion in a value-based model,” said Si France, MD, co-founder and CEO of WelbeHealth. “So we were very deliberate in selecting successful investors who have experience partnering with entrepreneurs to build truly mission-driven healthcare services companies.” F-Prime Capital and .406 Ventures have been early investors in leading healthcare startups such as Iora Health, US HealthVest, Quartet Health, AbleTo, Health Dialog, and axialHealthcare.
WelbeHealth is preparing to launch several innovative value-based care models, including Programs of All-Inclusive Care for the Elderly (PACE), to serve the most vulnerable dual eligible populations. Within these high risk populations covered by PACE, the average participant is 77 years old, suffers from 15 medical conditions and is impaired in several activities of daily living. WelbeHealth’s model of care will leverage industry leading technologies to support highly coordinated interdisciplinary care teams and cultivate a service-oriented mentality in attending to each individual patient’s comprehensive health and social needs.
“We are excited to back Si and the WelbeHealth team in their mission to provide a higher quality of care and experience in senior care,” said Jon Lim, partner at F-Prime Capital. “With a set of experienced operators across healthcare services, healthcare IT and value-based care, they are well positioned to deliver a higher standard of living to the frailest members of society.”