Everside Health

Everside Health Group (formerly known as Paladina Health) offers preventative care for chronic conditions and primary, mental and occupational healthcare treatments for acute conditions. Patients benefit from around-the-clock access to care, same-day or next-day appointments for in-person, and virtual care visits with zero copays. Focusing mainly on the B2B segment, Everside aims to generate around 17% healthcare cost savings in three years and 31% in five years for its corporate members by leveraging a data-driven approach to care coordination. The company charges a per-member-per-month fee from its enterprise clients, which includes self-insured employers and labor unions. The company leverages data from past medical records, predictive analytics, and AI in the delivery of preventative care services.

Founded in 2010 under the name Paladina Health, the company was rebranded in November 2020 as Everside Health following a merger between three primary care groups (Paladina, Activate Healthcare, and Healthstat). Everside filed its prospectus with the US Securities and Exchange Commission in July 2021 for its initial public offering (IPO). As of July 2022, the company is yet to be listed on the New York Stock Exchange under the ticker “EVSD.” 

Funding and financials

The company reported a revenue of USD 113 million in 2020, up 40% YoY, while net loss for the year improved to USD 2.9 million from USD 19.6 million in 2019. The DPC operates more than 375 clinics across 34 states and has served hundreds of thousands patients as of July 2022.

The company received its most recent investment in July 2022, amounting to USD 164 million in growth equity funding. The round was led by New Enterprise Associates (NEA). The funds were allocated towards  growing its market presence and exploring opportunities for M&A as well as to enhance and improve its product features. Additionally, the firm planned to expand its coverage of specialty care services aimed at individuals, employers, and union organizations.