Transcarent operates a unified health-and-care platform that connects members to Everyday Care, Pharmacy Care, Surgery Care, Weight Health, end-to-end Cancer Care, and behavioral health services. The company emphasizes a mobile-first, personalized experience with an on-demand care team and a connected ecosystem of in-person and virtual care. Transcarent offers at-risk pricing models and transparent impact reporting to align incentives around better outcomes and lower costs. Since January 2022 the company has launched comprehensive Weight Health, Cancer, Behavioral Health and Pharmacy Care experiences and expanded its Surgery Centers of Excellence program. In 2023 Transcarent completed the acquisition and integration of the 98point6 AI-powered virtual care platform and affiliated Transcarent Clinic. It also launched a National Independent Provider Ecosystem with 12 leading health systems. Today more than 4.3 million people have access to Transcarent through their employer or health plan, and the company plans to accelerate its AI capabilities, support commercial growth, and pursue strategic growth opportunities. Transcarent provides a new, different health and care experience that combines software, data science, Health Guides, and live support to give employees of self-insured employers unbiased information, trusted guidance, and access to high-value care. Its platform covers routine and complex needs including urgent care, lower-cost medications, behavioral health evaluations and support, surgeries, at-home care, cancer care, and expert second opinions. Members get 24/7 access to digital and live guidance and direct access to high-value providers; most members receive no bills and are not responsible for co-pays or co-insurance under Transcarent's fully at-risk model. The company pays providers up-front and partners with employers without any up-front or per-employee-per-month (PEPM) fees. Transcarent has pursued growth through acquisitions and partnerships, including the acquisition and integration of BridgeHealth (a surgical and value-based care provider serving over one million members) and a go-to-market selection by Walmart to simplify employer access to Walmart services and low-cost pharmaceuticals. Leadership and investor commentary indicate plans to scale the model nationally and continue building a world-class team. Transcarent is a health and care experience company that provides a personalized, 24/7 consumer-directed platform for employees of self-insured employers and their families. The company connects members with personal Health Guides or physicians and offers expert second opinions, medication review and management, virtual physical therapy, and appropriate site-of-care surgery solutions. It emphasizes unbiased information, trusted guidance, and access to high-value care to reduce friction, complexity, and cost in the healthcare journey. Officially launched in March 2021 and led by CEO Glen Tullman, Transcarent incorporated BridgeHealth’s surgical Center of Excellence capabilities and currently serves over 1 million members through more than 160 centers. Reported operating results include 21% of patients receiving a change/correction in diagnosis, 40% of patients avoiding unnecessary surgeries or procedures, average member connection to a physician in 60 seconds, and surgery solutions delivering 25–50% average net savings per procedure; BridgeHealth’s network reported 80% lower complications and an NPS of 90. The company plans to use new funding to rapidly expand its risk-based offering for self-insured employers.

Total raised

$384M

Funding rounds

3

Latest round

Series D

Latest activity

May 2024