GREENSBORO, North Carolina, December 1, 2022 — UpStream Healthcare (UpStream), a leading provider of value-based primary care services and technology, announced a USD 140 million Series B fundraising round, increasing its total capital to approximately USD 185 million. Coatue and Dragoneer, both technology and global growth investors, co-led the round, with participation from other leading healthcare and technology investors such as Avidity Partners, Define Ventures, and Mubadala.

UpStream provides an integrated platform that focuses on care quality, health equality, and total cost of care to physicians working under full-risk, value-based contracts who provide care to Medicare seniors. Its complete set of services and technological solutions enables physicians to improve results for themselves, their practices, and their patients.

“I am thrilled that such a distinguished company has come forward to make such a large investment in UpStream,” stated UpStream Board Chair Nick Loporcaro. “With this grant, UpStream will be able to continue its objective of assisting thousands of primary care doctors in converting their practices to provide value-based care for Medicare and Medicare Advantage patients.”

UpStream works by embedding pharmacists and other clinical personnel inside primary care physician offices and supporting physicians with unique technology that predicts patient requirements, enhances patient care, improves quality, and helps seniors with chronic diseases coordinate treatment. UpStream’s professionally guided teams manage treatment for the most medically and socially demanding individuals. In older cohorts, the business has assisted its provider clients in reducing in-patient and post-acute costs by 20% while maintaining an average 4.5-star quality performance for contracted seniors attributable to those techniques.

UpStream has swiftly grown due to its success, working with medical organizations in areas such as North Carolina, Virginia, and South Carolina. UpStream has already announced additional network ties for 2023 with the Community Care Physician Network in North Carolina, Tidewater Medical Group in Virginia, the Medical University of South Carolina Health Alliance, and South Carolina’s independent physician group Primary Care Associates.

Coatue’s Managing Director, Aaron Weiner, added:

“Robust population analytics and interoperable data are important to improving patient outcomes. Coatue believes UpStream’s technology platform has the potential to be category-defining in terms of value-based primary care.”

As the use of value-based care models spreads throughout the healthcare industry, UpStream intends to utilize the funds to grow its approach to physicians around the country, allowing them to enhance the lives of their senior patients. J.P. Morgan served as the exclusive placement agent.

UpStream Healthcare Company is a worldwide risk, a managed services firm that provides physicians with the tools and resources they need to improve elder healthcare. The firm offers a robust platform that enables doctors, pharmacists, and nurses to collaborate in primary care clinics to improve results and value.

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.


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