ST. LOUIS, April 22, 2024 ~ St. Louis-based healthcare company Lumeris has recently announced the successful completion of a $100 million equity capital raise. The funding round was led by Deerfield Management, a longstanding lender, and new investor Endeavor Health. Other existing investors such as Kleiner Perkins, Sandbox Industries, BlueCross BlueShield Venture Partners and JDLinx also participated in the round.

Lumeris has been delivering exceptional value-based care results for providers and their patients for over a decade. This new growth capital will support the company's rapid expansion of provider partnerships, including some of the largest health systems and physician groups in the country. Lumeris provides technology and care delivery processes to help these partners achieve remarkable outcomes in terms of both quality and cost of healthcare.

Mike Long, Chairman and CEO of Lumeris, expressed his confidence in the company's ability to manage all value-based populations, including Medicare Advantage, Traditional Medicare, Commercial, and Medicaid. He stated that their proven track record has consistently delivered high-quality outcomes while effectively managing the total cost of care. The recent investment will further enable Lumeris to meet the growing demand from provider partners to adopt value-based models.

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Through an innovative shared risk model that integrates all necessary tools, capabilities, and know-how, Lumeris' provider partners can be assured that their current and future value-based needs will be met. The company was recently recognized by the Healthcare Technology Report for its outstanding software exclusively available to its partners. Additionally, Lumeris owns and operates Essence Healthcare, which is currently the highest-rated Medicare Advantage plan in the industry with a 5-star rating from CMS for three consecutive years.

Vincent Mellet, Partner at Deerfield Management, explained why they chose to lead this funding round for Lumeris. He stated that the company has demonstrated differentiation through its best-in-class technology and ability to foresee and manage risk. Mellet also highlighted Lumeris' ownership and management of a Medicare Advantage plan that has received a 5-star rating for the past three years, which he believes is a testament to their deep understanding of the healthcare landscape and commitment to delivering high-quality patient care.

With this new capital, Lumeris is well-positioned to continue its growth and success in the value-based care market. The company's dedication to providing exceptional technology and services to its provider partners has earned them recognition and trust in the industry. As they continue to expand their partnerships, Lumeris remains committed to improving the quality and cost of healthcare for all.
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