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Cricket Health Secures $83.5M with Backing from Blue Shield, Cigna

Analysis  |  By John Commins  
   August 16, 2021

Cricket claims its "StageSmart™" predictive analytics model can identify patients with chronic kidney disease stages 3b and beyond with 96% accuracy.

Blue Shield of California has partnered with Cigna Ventures and other investors to provide $83.5 million to expand Cricket Health, the San Francisco-based kidney care provider.

"In the year that we have been working with Cricket Health, our members with chronic kidney disease have received comprehensive care from the comfort of their homes, resulting in better health outcomes," said Blue Shield of California Interim CMO Susan Fleischman, MD. "Cricket Health's virtual platform has helped connect patients with clinical and peer support, making them feel more educated about their health and involved in their care plans, allowing them to live their best lives."

Cricket claims its "StageSmart™" predictive analytics model can identify patients with chronic kidney disease stages 3b and beyond with 96% accuracy, which allows the provider to risk stratify patient populations and deliver stage-specific care.

Cricket's "MyCricket™" patient support platform provides access to a multidisciplinary care team, peer support, and educational resources online, by telephone, or in person. Cricket patients in end-stage kidney disease are more likely to be referred for transplants and have access to home dialysis to reduce unnecessary hospitalizations.

The Series B funding round, led by the healthcare private equity firm Valtruis, a portfolio of Welsh, Carson, Anderson & Stowe, also includes existing investors Oak HC/FT, and K2 HealthVentures. With the new funding, Cricket has raised more than $120 million in equity and debt financing. 

"Changing the way kidney disease is identified and managed is how we are able to deliver better clinical results," Cricket Health CEO Robert Sepucha said. "By identifying patients earlier and delivering the care they need, we are helping more Americans than ever stay healthy, at home, and out of the hospital. With new partners Welsh Carson and Blue Shield of California and existing partners Oak HC/FT, Cigna, and K2 Health Ventures, we will be able to continue to expand our innovative model of kidney care across the country."

Tom Richards, senior vice president and global lead, strategy and business development at Cigna, said the payer's partnership with Cricket has made kidney disease management more affordable, predictable and simple for beneficiaries.

"Since May 2020, we've seen more than a 50% reduction in hospitalizations and an increase in patient autonomy in a customer's transition to dialysis," he said, "and we look forward to continuing our partnership to help improve our customers’ experience and their health."

“In the year that we have been working with Cricket Health, our members with chronic kidney disease have received comprehensive care from the comfort of their homes, resulting in better health outcomes. ”

John Commins is a content specialist and online news editor for HealthLeaders, a Simplify Compliance brand.


KEY TAKEAWAYS

Cricket's "MyCricket™" patient support platform provides access to a multidisciplinary care team, peer support, and educational resources online, by telephone, or in person.

Cricket patients in end-stage kidney disease are more likely to be referred for transplants and have access to home dialysis to reduce unnecessary hospitalizations.

The Series B funding round, led by the healthcare private equity firm Valtruis, also includes existing investors Oak HC/FT, and K2 HealthVentures.

With the new funding, Cricket has raised more than $120 million in equity and debt financing.


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