Rubicon Founders; Valtruis, a WCAS company; HLM Venture Partners; Oak HC/FT; Town Hall Ventures; and Centene expand into the home-based and hospice care industry
A consortium of investors led by Rubicon Founders has acquired a majority stake in U.S. Medical Management (USMM), a recognized leader in providing high-quality, compassionate healthcare within proven care models that support complex and fragile individuals in the home setting. Centene Corporation (NYSE: CNC) will retain a minority stake in the company.
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Rubicon Founders’ mission is to build meaningful businesses that create enduring value by impacting people in a measurable way. Rubicon Founders is focused on building businesses that drive transformational change in health care.
“My interest in health care always starts and ends with the patient. This is an incredible opportunity to transform care for the most vulnerable in our society. This is the beginning–I am incredibly excited to work with the entire team at USMM to grow and expand nationwide,” said Adam Boehler, CEO of Rubicon Founders.
“We are thrilled to work with Adam Boehler and the entire Rubicon team as we expand the USMM platform enabling the delivery of true value-based care at scale across the country,” said Karey Witty, Managing Director of Valtruis.
“USMM brings sophisticated care and the human touch to the most frail and elderly patients literally where they are-in their homes. Combined with this great team that has proven it can reduce mortality, admissions and costs, the company will bring better outcomes to Medicare and Medicaid members nationwide,” said Edward Cahill, Partner at HLM Venture Partners.
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“At Oak HC/FT, we believe that one of the biggest opportunities for innovation in healthcare is home-based care. We’re proud to invest in a team that shares this vision and look forward to partnering with USMM to expand the company’s reach, bringing value-based care to more people in the convenience of their homes,” said Annie Lamont, Co-Founder and Managing Partner at Oak HC/FT.
“We are pleased to close this transaction, which we are confident will best position USMM for future growth and success,” said Sarah London, Vice Chairman of Centene’s Board of Directors. “In addition, this is an important step for Centene as we deliver on our value creation plan and initiate our previously announced stock repurchase program.”
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