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Main Street Health announces $315M funding round

Main Street Health, the nation’s largest value-based healthcare organization exclusively serving rural America, announced it has raised more than $315 million, including investment from Echo Health Ventures and health plan and provider partners. 

More from the Nashville Business Journal:

Value-based health care firm Main Street Health has closed a $315 million round of funding, according to a company news release, led by Oak HC/FT.

Other investors in the round include the nation’s five largest Medicare Advantage plans (UnitedHealthcare, Humana, Elevance, CVS Health and Centene), Echo Health Ventures and LRVHealth. Several of the company’s provider partners also participated in the round.

With the latest round of funding, Main Street announced its expansion into 26 states. The company currently operates in 18 states and plans to add eight states next year.

…Main Street has grown quickly since its founding, partnering with more than 900 clinics. The company’s pre-money valuation for the round was $1.2 billion, according to a company spokesperson.

That means Main Street has entered “unicorn” territory, a buzzy Silicon Valley term for startups with a ten-digit-plus valuation. That number is notable for Nashville’s startup community, even for a business born out of the city’s massive health care industry.