Advise Health Holdings, a leading and licensed Medicare agency, announced its first capital funding round of $100 million. The capital raise was led by Oak HC/FT, which focuses on investing in tech-enabled healthcare and financial services companies, with participation from Adams Street Partners and Hamilton Lane.
Reportedly, the company is planning to add 550 employees throughout the country over the next year. About 150 of those jobs may be in Indiana.
"Amid this global pandemic, it is increasingly evident that the relationship with your primary care provider is paramount. Our team advocates for patients in helping them find the right Medicare plan with the ability to continue seeing their preferred doctor," said Sherman Rogers, CEO and founder of Advise Health Holdings. "We're thrilled to have the support of Oak HC/FT, Adams Street Partners and Hamilton Lane. We appreciate their shared passion in helping more patients navigate hundreds of healthcare plans to design the right benefits to meet their needs."
Advise is currently in 20 markets nationwide, and this new capital will allow the company to expand to approximately 100 markets across 40 states over the next two years, including in Orlando, Tampa, El Paso and Austin. Advise will also use this funding to further scale the technology that supports and engages with patients at their convenience. The enhanced technology gathers more comprehensive customer data to deliver a benefit design that's ideal for the patient and vetted across thousands of databases nationwide.
"The Covid-19 pandemic spotlighted a number of healthcare necessities, including how we can better support seniors and Medicare patients. We need innovative solutions that make it easier and more convenient to find the right Medicare plan," said Annie Lamont, co-founder and managing partner at Oak HC/FT. "With Advise, patients are able to confidently find the right health insurance plan that allows continued access to their primary care physician. We're thrilled to back the Advise team at a time when healthcare decisions are more important than ever."
TripleTree, LLC acted as the exclusive financial advisor to Advise for this transaction.
