Curation Health

In October 2020, Curation Health announced a Series A round financing. Curation Health is a clinical decision support platform designed to assist providers and health plans in navigating the transition from fee-for-service to value-based care. 

Vesta Healthcare

In January 2020, Vesta Healthcare announced a $30 million Series A financing co-led by Deerfield. The Company is a 24/7 technology and clinical services organization dedicated to supporting caregivers and connecting their insights to the rest of the care team. Vesta Healthcare identifies the need for additional support in the home and provides 24/7 telehealth support for caregivers and care recipients, with a focus on high-need, frail senior populations. The Vesta program partners with home care, health plans and providers to create value-based population health programs that emphasize clinical quality, improved health outcomes and personalized engagement.

Lumeris

Lumeris is a leading population health services company that serves as a long-term strategic operating partner for organizations committed to transitioning from volume to value-based care and delivering extraordinary clinical and financial outcomes. The strength of its insight and technology driven suite of services is evidenced in the success of its corporate affiliate and largest client, Essence Healthcare, which last year became the only 5-Star Medicare Advantage plan with a virtually integrated care delivery model with independent physician groups.

Deerfield Announces up to $50 Million Investment in Fidelis SeniorCare

January 06, 2014 08:30 AM Eastern Standard Time 

NEW YORK–(BUSINESS WIRE)–Deerfield Management Company announced today that it has entered into a secured loan facility with Fidelis SeniorCare, Inc. for up to $50.0 million in financing. 

The facility provides Fidelis with working capital to expand its delivery of expert clinical care and care coordination for eligible Medicare beneficiaries with complex chronic conditions. Fidelis currently serves approximately 2,000 seniors in Washington and Michigan and was recently selected by the Michigan Department of Community Health as one of six health plans to provide integrated healthcare services to members who are dually eligible for Medicare and Medicaid in Macomb and Wayne counties. This state program is expected to serve approximately 90,000 dual-eligible beneficiaries in these two counties and enrollment is expected to commence in the fourth quarter of 2014. The financing was structured to help Fidelis prepare for the roll-out of this program, as well as to provide potential funding to launch new coverage for similar populations in other markets. 

Under the terms of the facility, Deerfield funded $25 million upon execution of the facility agreement and committed to advance up to another $25 million prior to March 15, 2015, upon the company’s request and provided that specified conditions of disbursement are met. The loan matures in five years and accrues interest at 10.75% per annum. Upon both the initial and subsequent disbursements, Deerfield will receive warrants to purchase shares of Series B Preferred Stock in the company. 

“We believe that the company’s high-touch approach to the care of frail elders is a win-win, aligning the economic interests of the company’s government clients with the clinical interests of the members it cares for,” commented Leslie Henshaw, Partner at Deerfield Management. “Our objective with this facility is to strengthen Fidelis’ financial position in a flexible, minimally dilutive way and to build a long-term relationship that helps Fidelis further its commitment to providing high quality care and services to vulnerable populations.” 

“Fidelis does a superb job of providing high quality clinical care and care coordination services to vulnerable and clinically complex Medicare and Medicaid beneficiaries,” commented Sam Willcoxon, President and Chief Executive Officer of Fidelis SeniorCare. “The team at Deerfield demonstrated a comprehensive understanding of our market and needs. They worked closely with us to create a facility that will enable us to execute into our near and long term strategies. We believe that we have found an excellent partner as we move forward in working with both State governments and as a trusted partner to other health plans in the care of dual eligible beneficiaries.” 

About Fidelis SeniorCare 

Fidelis SeniorCare is a private company headquartered in Schaumburg, IL. The Company provides expert clinical care and care coordination services to dual-eligible beneficiaries through its SecureHome clinics. Fidelis SeniorCare operates as a Medicare Advantage Plan (“Fidelis SecureCare”) or as a trusted partner to Medicare Advantage Plans, in Michigan and Washington. More information about Fidelis is available at www.fidelissc.com .   

About Deerfield Management Company 

Deerfield is a leading investment management firm, committed to advancing healthcare through investment, information and philanthropy. For more information about Deerfield, please visit www.deerfield.com . 

Contacts

Deerfield Management Company
Karen Arnone, 212-922-1349
kar[email protected] 

Concerto Health

Concerto Health (formally known as Fidelis SeniorCare) provides expert clinical care and care coordination services to dual-eligible and other frail Medicare Advantage patients in Ohio and Washington. In December 2013, Deerfield entered into a secured loan facility that provided Concerto with up to $50 million in financing. An initial $25 million advance was designed to help Concerto prepare for the roll-out of a new contract it was just awarded to provide integrated healthcare services to dual eligible beneficiaries in two Michigan counties.