Harbor Well being, a major and specialty care clinic and insurance coverage firm, introduced final week that it raised $130 million in funding. The financing will assist broaden its medical attain in Texas and develop its insurance coverage.
Harbor Well being connects sufferers with major, specialty and categorical care. Care is personalised to the affected person and every member receives entry to a devoted care staff. The startup has 11 clinics throughout Austin, Texas, and has cared for greater than 50,000 folks within the state.
The corporate can be constructing out its insurance coverage enterprise for giant group employers and particular person shoppers accessing care by way of the Marketplaces. Its plans haven’t any deductibles, no upfront go to necessities and no out-of-pocket prices for many providers supplied by Harbor Well being clinicians.
The financing was co-led by Normal Catalyst, 8VC and Alta Companions. The spherical additionally consists of participation from Dell Household Workplace Administration, Well being 2047 Capital Companions, Lemhi Ventures, Martin Ventures and Breyer Capital. In whole, Harbor Well being has raised $258 million since launching in 2022.
“Providing protection together with a condition-specific medical mannequin that optimizes high quality and outcomes is strictly what healthcare wants now for each employers and people,” stated Dr. Pete Hudson, Alta Companions managing director, in a press release.
The funding helps Harbor Well being construct out its insurance coverage enterprise, in addition to develop its medical footprint.
“When you’ve invested in insurance coverage, it simply doesn’t make sense to restrict who it’s utilized to. So it’s in our greatest curiosity to broaden how to have the ability to supply it to a broader inhabitants. And in order that’s the aim of the medical growth,” stated Dr. Clay Johnston, Harbor Well being co-founder, in an interview.
The corporate plans to broaden its medical presence past Austin, however will stay inside Texas for now to construct better market density throughout the state, Johnston added.
“Healthcare is so native and a part of our technique is to remain in Texas,” he stated. “We’re going to broaden out of Austin, however keep in Texas on function as a result of (healthcare) is native. It’s so vital to have these connections to the group, to the opposite suppliers. So we imagine fairly strongly that that’s the appropriate option to do it, versus be skinny and unfold out.” He contrasted this with corporations like Brilliant and Centivo, which have expanded extra broadly throughout the U.S.
That stated, if Harbor Well being reaches its desired density within the state of Texas, it might broaden to different states as nicely, he famous.
The corporate can be increasing its specialty care assist with the funding, together with cardiology, rheumatology, infusion and endocrinology, Johnston stated.
Photograph: Nataliia Nesterenko, Getty Pictures
