By Bill Deitch, Oak HC/FT
Last week, Oak HC/FT joined a group of investors in the $165 million growth equity financing of Paladina Health, a national leader in the direct primary care (“DPC”) market. We are ardent believers in the need to expand patient access to primary care and Paladina, with its network of over 50 clinics across 9 states, is at the forefront of this exploding trend.
The benefits of readily available primary care are clear: when patients can regularly and easily visit their primary care physicians, health outcomes improve and the total cost of care goes down. Meanwhile, employers who contract with Paladina benefit from increased transparency, higher employee satisfaction, and hard dollar savings. Shifting from a reactionary to a preventative care model allows for early disease detection, eliminates avoidable ER trips, lowers pharmacy costs, and reduces unnecessary specialist visits. Most importantly, it leads to happier and healthier patients.
For years, we have backed innovators in primary care delivery and Paladina is ideally positioned to become the leader in the DPC market. Along with our co-investors at NEA, we cannot wait to see what Chris Miller and his team at Paladina will build on the heels of this investment as they grow their team, expand their clinic base, and invest in transformative technology.