GREENSBORO – The healthcare company UpStream Care has closed a Series A fundraising round, landing $45 million.
The funding round, which was announced by the company earlier this week, was led by Dragoneer Invesment Group.
The company said in a statement that the funds will enable the company to “triple in size within a year.”
The company is a marketplace solution for primary care physicians, according to Dr. Sanjay Doddamani, the company’s CEO.
“By focusing on patients living with chronic conditions, and physically embedding highly trained prescribing pharmacists and coordination nurses at each primary care physician office, we create the right infrastructure and resources for the whole-person care experience,” Doddamani said in a statement.
The company’s statement notes that it is in the transition from a regional care provider to a national company, with more than 100,000 individuals from the senior population supported.
“We believe that primary care doctors are much more than deliverers of care to their older patients – they become themselves the instruments of care,” said Fergus Hoban, the founder and chair of the company. “Supporting their practices with the enhanced UpStream infrastructure means that they can deliver better care to older, sicker adults, who experience reduced obstacles to optimal care.”
According to Hoban, the company absorbs the management and risk responsibility physicians would face, enabling the providers to focus on patient care.