Contessa Health Raises $3.5 Million in Financing from BlueCross BlueShield Venture Partners, Sandbox Advantage Fund and Martin Ventures
December 2, 2015
Financing Enables Contessa Health to Scale its Value-Based Home Hospitalization Programs
NASHVILLE, Tenn.–(BUSINESS WIRE)–December 2, 2015–
Contessa Health, Inc., today announced it has secured $3.5 Million in Series A Financing from BlueCross BlueShield Venture Partners, Sandbox Advantage Fund and Martin Ventures. Contessa Health creates and manages home hospitalization programs, a new form of value-based care, that optimizes the initial site of care delivery and provides in-patient level acute care in a home environment. The clinical model is supported by Contessa Health’s administrative services and proprietary technology platform, ContradoClaim™, to successfully operate the programs in a prospective bundled payment arrangement.
“Contessa Health’s clinical model truly places the patient at the center of the care delivery universe by enabling clinicians to deliver care in the most appropriate setting,” said Travis Messina, chief executive officer and co-founder of Contessa Health. “By combining our clinical and administrative services with our claims processing and analytics platform, our partners are able to efficiently deploy home hospitalization programs in a bundled payment arrangement. We are excited to have BlueCross BlueShield Venture Partners and Sandbox Advantage Fund join Martin Ventures as investors in Contessa Health, allowing us to expand and grow our program meaningfully.”
“Contessa Health is building towards a future in healthcare delivery where patients and their families can get the care they need in the most appropriate setting, including their own home. We are excited to support this vision of coordinated, patient-centered care,” said Anna Haghgooie, managing director of Sandbox Industries, who will represent BlueCross BlueShield Venture Partners on Contessa Health’s Board of Directors.
“Martin Ventures is committed to investing in organizations that apply integrative approaches to improving care, improving health and reducing the cost of care,” said Charles N. Martin, chairman and founder of Martin Ventures. “Contessa Health is exactly the type of organization we see as being a positive disruptor in addressing the challenges facing our healthcare industry.” Martin was recently appointed to Contessa Health’s Board of Directors.
ABOUT CONTESSA HEALTH
Contessa Health creates and manages home hospitalization programs. By partnering with Contessa Health, physicians are able to shift complex surgical procedures and chronically-ill patients to the most clinically appropriate site of care, allowing their patients to enjoy home-based recovery. Contessa Health provides clinical, administrative and technological resources to enable physician partners to deliver the highest quality outcomes in a prospective bundled payment arrangement.
ABOUT BLUECROSS BLUESHIELD VENTURE PARTNERS
BlueCross BlueShield Venture Partners, L.P. is a corporate venture fund licensed by the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield companies. The fund invests in promising emerging companies of strategic relevance to Blue Cross and Blue Shield Plans. Sandbox Industries is the exclusive provider of investment management services to BlueCross BlueShield Venture Partners. For more information, please visit www.bcbsvp.com.
Contessa Health, Inc.
Travis Messina, 615-829-7399