Primary is the premier early stage venture firm working alongside founders to build unicorns like Alloy, Chief, Electric, K Health, Slice, Vestwell, and many more.  The firm takes a low-volume, high-conviction approach—and devotes unreasonable resources toward making sure founders can succeed. With an Impact team that outnumbers investors 2:1, operational experts spend 100% of their time making hires, signing customers, and enabling future fundraising to supercharge growth. This partnership with top-tier founders makes companies in Primary’s portfolio 2x more likely to raise a Series A and 19x more likely to reach a billion-dollar-plus valuation—a third of Fund I companies are unicorns, less than a decade out.  We’re always excited to meet 99th-percentile founders building in B2B SaaS, built world, fintech, healthcare, infrastructure, and supply chain. And while we have a home court advantage in NYC, we invest globally, at pre-seed through A.

Primary Venture Partners

Notation Capital is a pre-seed venture capital firm that work with technical founding teams. Notation Capital focus on early-stage technical teams, often pre-market or even pre-product, primarily in New York, and provide capital and support to help go-to-market and scale the company.

Notation Capital

Point72 Ventures is a global venture capital firm that invests primarily in Fintech, AI/ML, and Enterprise technologies. As an independent arm of Point72, the global asset management firm led by Steven Cohen, Point72 Ventures offers well-informed insights into the global economy. Point72 Ventures has offices in New York City, Palo Alto, San Francisco, and Stamford, Connecticut.

Point72 Ventures

General Atlantic is a private equity firm that provides capital and strategic support for growth companies. General Atlantic combines a collaborative approach, sector-specific expertise, a long-term investment horizon, and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to build market businesses.

General Atlantic

Stellar Health

Stellar Health is a point-of-care, cloud-based platform that activates primary care providers to achieve value-based care (VBC) goals that improve patient outcomes, such as improving quality scores and optimizing the patient care journey through transitions of care and high-value referrals.  The Stellar platform helps primary care providers continually engage with their patients by providing them real-time information and tangible action-based incentives for improving the quality of care. Stellar Health’s mission is to enable all providers to engage and succeed in VBC by bridging the incentive gap between providers and payors. The company was founded in 2018 and is headquartered in New York, New York.

Stellar Health is a population health management platform that integrates patient medical history data and tracks provider workflows to give insights and recommend clinical actions to primary care providers. The company partners with payors to design value-based programs that reward healthcare providers with incentive payments for the quality of care they provide, such as calling patients to schedule appointments and reminding patients to pick up their medication; tasks traditionally not compensated for. The company claims health systems generated shared saving surpluses and providers increased annual revenue by USD 40,000 on average by partnering with Stellar Health. As of May 2024, Stellar Health had a payor-provider network exceeding 70 collaborations across 20 states, managing over 745,000 patients.

Membership-based, non-insurance healthcare companies helping maintain a steady state of well being.

Preventive Healthcare

Stellar Health Appoints Rebecca Schwietz as New Chief Operating Officer

Stellar Health is a population health management platform that integrates patient medical history data and tracks provider workflows to give insights and recommend clinical actions to primary care providers. The company partners with payors to design value-based programs that reward healthcare providers with incentive payments for the quality of care they provide, such as calling patients to schedule appointments and reminding patients to pick up their medication; tasks traditionally not compensated for. The company claims health systems generated shared saving surpluses and providers increased annual revenue by USD 40,000 on average by partnering with Stellar Health. As of May 2024, Stellar Health had a payor-provider network exceeding 70 collaborations across 20 states, managing over 745,000 patients.The Stellar Health platform’s suite of services consists of (i) Stellar Application, a web-based point of care tool for physicians to manage patients, (ii) Stellar Incentive Payment Program, which provides financial reporting and real-time payments for value-based actions, (iii) Stellar BI and Analytics Insights, which tracks real-time practice performance and analyzes key metrics in provider management, workflow, and performance management, and (iv) Stellar Provider Performance Team, which assists clients with the onboarding and implementation process of the platform, and with on-going support to improve performance.Key customers and partnershipsIn <a href="https://sp-edge.com/updates/25396">January 2024</a>, the company partnered with UNC Health Alliance to implement Stellar's platform to the entire independent provider network.Funding and financialsThe company raised more than USD 60 million in Series B funding led by General Atlantic, in September 2021 and the funds were utilized to expand its services in existing and new markets through investments in its team, product development, engineering, and operational initiatives.

Cardiomo Care is developing noninvasive wearable devices to alert users and caretakers when there are abnormalities in the heartbeat. The company’s AI engine, trained on existing and growing data sets, can predict potential heart issues up to two hours before they occur, enabling early detection and intervention for arrhythmias and other cardiovascular diseases (CVDs).The company's product, CardiomoPatch, is a waterproof, wearable patch capable of long-term wear with a 10-day battery life. The patch monitors a patient's cardiac data, including ECG outputs, breathing, and skin temperature, and transmits the data via a mobile app for analysis by Cardiomo's AI engine.&nbsp;As of May 2024, the company is yet to commercialize its product and has over 1,600 pre-orders.

Cardiomo Care

Omada is a prevention-focused digital therapeutics startup that helps members achieve health goals through lifestyle changes. It offers four evidence-based, virtual prevention programs for managing hypertension, musculoskeletal (MSK) issues, prediabetes, and diabetes.Omada offers real-time data tracking through connected devices (such as wireless scales, blood pressure, and glucose monitors) and access to personalized coaching sessions via a mobile app as part of its prevention program. It also provides an online community of peers with similar health conditions to discuss challenges and provide support. In May 2021, Omada became the first fully-virtual healthcare provider to earn the National Committee for Quality Assurance’s Population Health Program Accreditation for its type 2 diabetes and type 2 diabetes + hypertension programs.Unlike its peers, Omada operates a performance-based business model where it charges clients an enrollment fee based on the number of users and a performance fee based on how much weight their employees lose. In May 2020, the company acquired virtual physical therapy startup Physera.Key customers and partnershipsAs of May 2024, Omada had more than 1 million members from more than 1,900 enterprise clients across all 50 US states. Its B2B employer and health plan client base include key clients such as American Eagle, Kaiser Permanente, Costco Wholesale, 3M, and Marvin. Additionally, the company has partnered with health systems and hospitals such as Intermountain Healthcare to provide its preventive programs as a covered benefit.In <a href="https://sp-edge.com/updates/15587">January 2023</a>, the company partnered with health service company Castell (a subsidiary of Intermountain Healthcare) to provide its diabetes programs to members from Intermountain Healthcare’s primary care providers in its Utah Medical Group. Further in <a href="https://sp-edge.com/updates/25245">January 2024</a>, the company partnered with Amazon to expand access to its cardiometabolic program.

Omada Health

VillageMD provides primary care services for patients. It also provides tools, technology, and staffing support needed for physicians to deliver high-quality services. VillageMD’s service delivery methods include traditional freestanding clinics, Village Medical at Walgreens co-located clinics, as well as at-home and around-the-clock virtual visits. It also leverages a team-based approach to care where physicians lead nurse practitioners, pharmacists, mental health specialists, and dietitians to offer a holistic care program. The technology of VillageMD includes docOS, an operating system that enables better patient care by connecting various clinical source systems with ongoing patient-generated data coupled with an AI engine to continuously analyze messages to enable patient self-care.The company made several acquisitions to expand its footprint: 1) <a href="https://sp-edge.com/updates/14347">Summit Health</a> for USD 8.9 billion in November 2022, 2) Healthy Interactions, an interactive patient education platform, in February 2022, and 3) <a href="https://sp-edge.com/updates/16968">Starling Physicians</a>, a primary care and specialty care provider, in March 2023.Key customers and partnershipsIn June 2020, VillageMD and Walgreens Boots Alliance announced a collaborative effort to open at least 600 Village Medical centers at Walgreens across more than 30 US markets by 2025. Walgreens invested USD 5.2 billion in VillageMD (from the previously announced USD 1.0 billion), raising its ownership stake to 63% (from 30%).However, as of May 2024, Walgreens had plans to close 160 VillageMD clinics as part of a cost-cutting plan.

VillageMD

Cityblock Health is a value-based healthcare provider focused on delivering comprehensive care to underserved communities, primarily Medicaid and lower-income Medicare beneficiaries. The company combines primary care, behavioral health, and social services to address the complex physical, mental, and social needs of its members.Cityblock's model involves partnering with local community-based organizations and deploying multidisciplinary care teams that include doctors, nurses, behavioral health specialists, and community health workers. These teams provide personalized care through 24/7 access to multi-modal care delivery, including in-home visits, telehealth, and community health hubs.The services of Cityblock are available to members at no additional cost if they are covered by an eligible health plan.Key Customers and PartnershipsAs of May 2024, the company’s services were available in seven states across the US and served over 100,000 members.In May 2024, it partnered with <a href="https://sp-edge.com/updates/29647">Sunshine Health</a> to expand to Florida, and, in <a href="https://sp-edge.com/updates/13270">September 2022</a>, it partnered with MDwise to expand into Indiana. Prior to that, the company had partnered with insurance providers such as ConnectiCare (Connecticut), Tufts Health Plan (Massachusetts), Emblem Health (New York), Healthy Blue (North Carolina), Molina Healthcare (Ohio) and CareFirst (Washington DC).Funding and FinancialsCityblock is a spin-off of Sidewalk Labs, an Alphabet company that incubates and invests in tech companies and products to improve urban infrastructure. It completed a USD 400 million Series D funding round led by Softbank in <a href="https://sp-edge.com/updates/5326">September 2021</a>, valuing the company at USD 5.7 billion. The funds were used to expand its services.

Cityblock Health

Everside Health (formerly 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.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 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). Furthermore, in February 2024, Everside Health merged with primary care provider Marathon Health to form a combined entity that would operate as Marathon Health, and, as of May 2024, the integration was ongoing.Key customers and partnershipPost-merger with Marathon Health, the combined entity would serve 2.5 million patients through over 680 clinics across 41 states.Funding and financialsThe 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 toward growing its market presence and exploring opportunities for M&amp;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.

Everside Health

Platforms offer a subscription-based or B2B-sponsored, evidence-based program for managing a specific long-term health condition.

DPCs offer value-based primary and preventive care services addressing whole-person (social, mental, physical) needs for a fixed monthly or annual fee paid by either the patient, insurance provider, or employer.

Companies offer B2B and D2C evidence-based treatments delivered via software programs to prevent and manage a variety of chronic conditions.

Tools that collect and analyze real-time patient data that supports healthcare providers with clinical decisions,  improves patient outcomes, and reduces medical errors.

Companies offer independent physician practices and hospitals with the tools (patient engagement, care coordination, administrative services) to help manage and improve clinical health outcomes of a defined group of individuals or large populations.

Platforms are used to track and gather patient health-related information via either a connected device or at-home test kits to detect the early onset of disease and identify any abnormalities in readings—but do not include a treatment plan.

To gather large amounts of real-time data for chronic care management, DTx, and patient monitoring

XR used by some startups for chronic pain management

Offers digital means of providing direct primary care, passive remote monitoring, chronic care management, etc.

AI/ML is used in predictive analytics, diagnostics tools, and population management

Offers tailored preventive interventions and treatments to the specific needs and characteristics of each individual

PROMINENT_CATEGORY

<div>
 Stellar Health, a population health management platform, broadens its partnership with UNC Health Alliance. The expanded cooperation will see Stellar's platform implemented across the entire independent provider network. Originally, a pilot program established in 2022 demonstrated potential to develop new care delivery and payment models for 10 independent practices.
 The platform supports health-guided decisions, offering real-time incentives for excellent patient care. This partnership expansion could lead to more collaborations and improve the delivery of quality healthcare.
</div>

Stellar Health

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