Bethesda health tech company raises another $23 million
Bethesda health tech startup Aledade Inc. has scored another major funding round of $23 million, a Securities and Exchange Commission filing shows.
Aledade, founded 2014 to help doctors’ offices use technology to reduce costs and help organize physician groups into accountable care organizations, declined to comment. The filing, which says the company hopes the full round reaches $28 million, does not specify how the money will be used.
The company, which has already raised more than $74 million in just more than three years, is in aggressive growth mode. Aledade has created and operates accountable care organizations across 15 states, partnering with more than 200 practices delivering care to more than 240,000 patients.
It scored a major contract in June, signing a partnership with the nation’s largest insurer, UnitedHealthcare, and also works with Medicare to reduce costs.
The company was founded by Dr. Farzad Mostashari, who previously served in the top health technology role at the Office of the National Coordinator. We recognized it as one of our 25 Startups to Watch in September.
Aledade has also sought a leadership role in pushing for ongoing support for value-based care model. On Tuesday, the company was among seven organizations, including the American Academy of Family Physicians, that sent a letter to Centers for Medicare and Medicaid Services Administrator Seema Verma calling for the federal government to provide more opportunities for independent physician practices in the midst of health care consolidation pushed by value-based programs.