CareCentrix operates a home-centered platform that coordinates care to the home for health plans, patients, and providers, offering services such as care transitions, home nursing, durable medical equipment, home infusion, and in-home palliative care. Its operations are enabled by HomeBridge, a machine-learning, proprietary analytics-driven care coordination platform that develops hyper-personalized care plans. The company manages care for 19 million members through approximately 7,400 provider locations and reports reductions in total cost of care by 20%, emergency department usage by over 11%, and skilled nursing costs by 23%. The investment from Walgreens advances CareCentrix's role in post-acute and home care and supports integration with Walgreens Health to expand customer-centric, technology-enabled care models. CareCentrix aims to partner with payers and health systems to manage the journey from hospital to home and to scale home-focused solutions to lower costs and improve outcomes. Following Walgreens' majority investment, the company is set to continue operating independently under its current executive leadership. Founded in 1996 and led by CEO Eric Reimer, CareCentrix provides home healthcare benefits management services from its base in East Hartford, Connecticut. The company offers a full range of services including coordination of home nursing, home infusion, home medical equipment and sleep testing. It also operates HomeSTAR, a program designed to reduce hospital readmissions. CareCentrix received an equity investment from Summit Partners and intends to use the proceeds to develop new product offerings. Some existing shareholders, including Water Street Healthcare Partners (which acquired the company in 2008), will retain an ownership position following the transaction. Board additions from the investor side are expected to support governance and strategic initiatives.

Total raised

$330M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2021