Wayspring operates a longitudinal, value-based care model focused on people with substance use disorder, delivering medical, behavioral and social support through programs such as its SUD Home offering. The company combines targeted member outreach, strategic provider partnerships, community-based peer support, and direct clinical services to drive adherence to evidence-based medicine. Wayspring says this approach reduces healthcare waste and improves health outcomes for people with complex needs. The company raised a minority investment led by CVS Health Ventures; the amount of the deal was not disclosed. Existing investors including Valtruis (a portfolio company of Welsh, Carson, Anderson & Stowe), HLM Venture Partners, and .406 Ventures participated in the round. Wayspring plans to use the funds to expand the reach of the SUD Home program within current states and into select new markets. Wayspring (formerly axialHealthcare) operates a full-risk medical home model for substance use disorder, leveraging data analytics to outreach to the highest-risk individuals. The company delivers high-touch, community-based peer support, behavioral health, and primary care and partners with existing provider networks to refer members to high-quality treatment. Wayspring facilitates care transitions and works to improve adherence to evidence-based medicine. Since launching its member-facing SUD management solutions with three health plans in 2020, the company has driven significant savings by reducing inpatient readmissions, hospital admissions and emergency department visits. The company is led by CEO Carter Paine and intends to scale its value-based care solution using the newly raised capital.

Total raised

$75M

Funding rounds

2

Latest round

Equity

Latest activity

Sep 2021