Higher Well being Crew, a value-based care supplier community with over 1,200 owned and affiliated suppliers, has won $175 million in financing. The newest spherical of financing follows a $500 million fairness funding from Kinderhook Industries in December 2021.

The Tampa-passed corporation mentioned the brand new investment would fortify new risk-based payer partnerships, strategic acquisitions as the corporate expands operations to new states, and persevered openings of  new clinics.

Over the 22 months for the reason that Kinderhook financing, Higher Well being Crew mentioned, it has doubled its affected person base to greater than 1 / 4 million, doubled the dimensions of its supplier community, and tripled the selection of company-owned scientific facilities. During the last yr, Higher Well being Crew generated $1.2 billion in income thru its operations throughout 8 states and Puerto Rico.

 “Our payer, supplier, and funding companions acknowledge our lengthy observe document of good fortune working a scalable, value-based care group,” mentioned Mike Polen, CEO of Higher Well being Crew, in a commentary. “Since inception, the corporate has generated constant profitability and industry-leading care high quality. We’ve carried out so via depending on shut collaboration with our supplier companions and thru complete care control that emphasizes early illness detection and prevention. The method is helping our sufferers succeed in higher well being, allows our suppliers to ship upper high quality and extra customized care, and provides our payor companions better monetary steadiness. In brief, we’re offering actual value-based care.”

Sooner than becoming a member of Higher Well being Crew, Polen served as senior vice chairman and Medicare CEO at Centene Corp., the place he was once liable for main the Medicare Benefit industry. Previous to Centene, he spent 15 years at WellCare Well being Plans serving ultimate as government vice chairman of Medicare and Undertaking Operations.

The corporate mentioned its “two-pronged providing” has attracted 575 new suppliers to the community since 2022. Those suppliers can deal with possession in their practices and spouse with Higher Well being Crew’s control products and services group and ACOs, or they may be able to paintings as workers at one in all its 162 company-owned scientific facilities.

 “Virtually 90 p.c of our suppliers ship financial savings in value-based preparations whilst additionally reaching the very best quality ratings,” mentioned Chris Michalik, managing director at Kinderhook Industries, in a commentary. “BHG’s effects talk for themselves.” 

Michalik was once the chairman of Wellcare Well being Plans previous to its acquisition via Centene in 2020. 

 “During the last two years, we’ve proven the healthcare {industry} that now not best does our type paintings, nevertheless it’s additionally scalable,” mentioned Sidd Pagidipati, Higher Well being Crew’s founder and chairman, in a commentary. “With just one in 5 number one care suppliers taking part in risk-based value-based care preparations, we see huge alternative to assist suppliers around the nation earn extra via turning in higher care to their sufferers.”