Growth capital to extend VillageMD’s national footprint and enhance its industry-leading data and
Chicago (January 4, 2018) – VillageMD, a national provider of primary care, announces that it has closed
an $80 million growth capital financing round led by funds managed by Athyrium Capital Management,
LP, a leading global investor in innovative, high-growth companies across the healthcare sector.
VillageMD, through its partnerships with primary care providers, delivers solutions and services that
improve clinical outcomes, enhance patient and physician satisfaction, and lower the total cost of care.
VillageMD previously raised $36 million in a growth capital financing round led by Oak HC/FT in September
The VillageMD network now serves 2,500 primary care physician partners across six states, making it one
of the fastest growing primary care providers in the U.S.
“Our partnership with Athyrium represents an important next step in the history of VillageMD,” said Tim
Barry, VillageMD’s Chief Executive Officer. “While we are happy with the growth we have experienced in
the last four years and expect continued growth in the future, we are most proud of the clinical and
financial results we have been able to achieve with our primary care partners. This growth capital not
only helps us expand into new markets but, most importantly, continue to invest in tools and technology
that better serve primary care doctors and their patients. We are excited to partner with the team from
Athyrium, given their track record of success and depth of experience in the healthcare sector.”
“We couldn’t be more excited about the opportunity to play a part in the VillageMD growth story,” said
Hondo Sen, a partner at Athyrium. “Our firm strongly believes in the value creation opportunities available
through innovative and disruptive, primary care-led models, and the VillageMD team’s proven track
record of results uniquely positions the company as a critical change agent in U.S. healthcare by driving
improved quality and cost outcomes through partnerships with their growing network of primary care
VillageMD provider partners leverage VillageMD’s data analytics, physician-based care coordination, and
on-the-ground support resources, all of which have demonstrated significantly greater clinical
improvements at a lower total cost of care. VillageMD’s clinical care model also aids its physician partners
in providing more personalized attention, education, and support to patients via integrated care teams of
health coaches, diabetes educators, pharmacists, and resource coordinators to address patients’ medical,
emotional and social needs.
VillageMD’s value-based model of care is proven to drive results across multiple markets and across all
patient populations – commercial, Medicare, Medicare Advantage and Medicaid. Practices that have
adopted VillageMD’s patient-centric approach have been recognized by the Centers for Medicare and
Medicaid Services for high quality and high-performance metrics, such as the following: admissions and
readmissions rates 20 to 45 percent lower than the community, Medicare costs 20 to 45 percent lower
than the community, and commercial costs 15 to 20 percent lower than the community.
About Primaria Health:
Primaria Health is a primary care-focused management services organization that helps physicians transform to a primary-care led model for care and achieve success in the new value-based reimbursement environment. Our goal: to be the largest, highest performing primary care-led network in central Indiana. Primaria was formed through a partnership with VillageMD and Community Health Network and is headquartered in Indianapolis. Primaria supports a rapidly growing group of primary care partners throughout the 38 counties of central Indiana. The Primaria leadership team is comprised of experienced clinicians and dedicated experts in primary care, health plan management, and population management.