During our work on the frontlines of the fight against COVID-19, we saw firsthand how the pandemic exacerbated disparities in the U.S. healthcare system and exposed its breaking points. This experience confirmed our commitment to our mission: making great healthcare accessible to everyone. (And when we say everyone, we really mean everyone — not just the wealthy who can afford premium healthcare costs.) We believe that the path to achieving this is through expanding our unique omnichannel care model nationally, so we can bring it to more people in more places.
Today we are announcing a $350 million fundraise that we will use to build the first nationwide primary care network and improve our omnichannel care delivery model, so we can continue with our mission.
As of this writing, we’ve opened more than 80 clinics in 12 states; by the end of 2025, we plan to have 1,500 clinics across the country, which will put a Carbon Health location within a short travel distance for most of the country’s population. By opening more clinics, we’re able to bring great healthcare to more people.
Unlike the majority of healthcare providers, though, we aren’t trying to build regional monopolies and gain pricing leverage. Instead, we’ve chosen to make Carbon Health accessible to as many people as possible. Delivering higher-quality care at a lower cost is fundamentally difficult, and it can be done only with technology that simultaneously improves patient experience and makes it easier for doctors to provide care to more patients without feeling burned out. And this requires substantial R&D investment, which financially doesn’t make sense unless you can employ it across a very large network.
We believe a nationwide last-mile healthcare delivery network with a technology backbone as strong as ours will enable further innovation in healthcare — both in terms of care delivery and business models. It’s similar to the way that the ubiquity of FedEx, UPS, and others have enabled the e-commerce options we enjoy today. The hyper-fragmented nature of primary care clinics with completely disjointed technology systems has been a big barrier, historically.
Key to Carbon Health’s growth and our ability to increase healthcare accessibility while lowering costs is our unique omnichannel care model. Omnichannel care is designed to meet patients wherever they are, via many access points: in-person clinics, virtual visits, home-based care, and easy-to-use consumer health tools. We are already investing in home-based care initiatives with our acquisition of Steady Health, a leader in virtual diabetes care, and we are opening almost two clinics a week in new and existing markets.
Omnichannel care is not just about having clinics and video visits, though. It’s about seamlessly integrating clinics, virtual care, devices, and more into a holistic model that reduces friction for patients as much as humanly possible. Imagine having a video visit with your doctor and then stopping by one of our mini-clinics for a quick blood draw. Imagine going to your wellness visit in a clinic, applying a continuous glucose monitor for two weeks, and then following up with your primary care provider virtually.
We have been providing this form of care for a while, but improving the technology and operations to make the patient experience as frictionless as humanly possible requires significant investment. This funding will allow us to do that.
I am very proud of the incredible work our team has put into reaching our goals. With this investment, Carbon Health has even more opportunity to reshape the healthcare system for good. Thank you to the team for making this possible.
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