Deal of the week: Strive Health raises $166m to aid kidney health services

Each week, Pharmaceutical Technology’s editors select a deal that illustrates the themes driving change in our sector.  The deal may not always be the largest in value, or the highest profile. But it will tell us where the leading companies are focusing their efforts, and why.  This new, thematic deal coverage is driven by our underlying Disruptor data which tracks all major deals, patents, company filings, hiring patterns and social media buzz across our sectors.

The deal 

The Denver, Colorado-based kidney health company, Strive Health, raised $166 million from several investors including Ascension Ventures Limited, CapitalG, CVS Health Ventures, Echo Health Ventures, in a Series C round that was led by the global VC firm NEA.

Why it matters

Chronic kidney disease or CKD is a chronic condition in which patients suffer from an irreversible and progressive loss in renal function over many months or years, ultimately resulting in end-stage renal disease (ESRD) and the requirement for renal replacement therapy (RRT).

As per GlobalData analysts, a significant part of disease management of late-stage CKD involves treating the comorbidities associated with the disease. While several drugs are approved to treat these comorbidities, navigating the reimbursement procedures for their long-term use can be challenging. Founded in 2018, the company is involved in providing comprehensive patient care in a value-based manner by partnering with commercial and government payers like Medicare.  AS per the company, manages over $2.5 billion of annual medical spend.

Strive’s platform is designed to offer patients with chronic kidney disease access to care and help in managing their disease. Nephrologists often emphasize the need to treat early in order to slow the progression to end-stage renal disease. In its past collaborations, the company has provided nephrologists’ offices with resources to manage a patient’s comorbidities to better their overall health.

The detail

As per the 31 May announcement, the company plans to use the influx of funds to invest in expanding existing partnerships with payors, medical groups and physicians. The company also aims to enter other markets and increase the scale of its operations. In the last few years, Strive has signed partnerships with independent nephrology practices in St Louis, Michigan, and Central and North Florida, in addition to those with national chains, to facilitate cost-effective kidney care.