Gold Kidney Health Plan Raises $60 Million from Chicago Pacific Founders in Partnership to Serve Patients with Kidney Diseases

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Dec 27, 2022, 08:00 ET

SCOTTSDALE, Ariz., Dec. 27, 2022 /PRNewswire/ -- Gold Kidney Health Plan (Gold Kidney) announced the close of a $60 million funding deal with Chicago Pacific Founder (CPF), an investment adviser that manages private equity funds, focused exclusively on value-based care innovation, healthcare services, and AI and tech enabled healthcare services with offices in Chicago and San Francisco. The investment supports Gold Kidney's Health Plan's ability to offer new Medicare Advantage plan choices to patients with kidney diseases across the US using a unique Nephrology centric care model.

Currently, ESRD (End Stage Renal Disease/Dialysis) Medicare Advantage Chronic Special Needs Plan (C-SNP) plans are only available in 11 States. Fewer than 1% of Medicare beneficiaries with ESRD are enrolled in ESRD C-SNP plans. In Arizona, Gold Kidney is launching the only ESRD C-SNP plans available for Medicare beneficiaries living in Maricopa, Pinal, and Gila counties in 2023. As a Special Needs Plan, Gold Kidney can enroll patients all year round.

Gold Kidney was seeded by over 100 nephrologists discouraged with the limited Medicare plan options for their Chronic Kidney Disease and ESRD patients. Gold Kidney empowers nephrologists and Primary Care Physicians (PCPs) to provide the right care at the right time in the right setting for their patients.

"We are excited to partner with CPF in serving the underserved kidney patients today," said Dave Firdaus, Gold Kidney's Chief Executive Officer, "CPF has an innovative business approach that serves both the care needs of our aging population and the financial returns for investors."

Gold Kidney's model of care is designed to provide kidney disease patients with a tech-enabled integrated plan that covers their healthcare needs. For example, Gold Kidney offers $0 copay dialysis and transportation benefits to help dialysis patients get their needed treatment and avoid emergency room visits. "Additionally, Gold Kidney has a large and comprehensive network of contracted providers for both access and choice to its members. In Arizona, we contracted with prominent providers such as Banner Health, DaVita Dialysis, and US Renal Care," Gloria Long, Gold Kidney's VP of Business Development commented.

CPF is looking forward to a long and fruitful partnership with Gold Kidney," added CPF Founder and Managing Partner, Mary Tolan. "CPF believes that Gold Kidney is a market leading Medicare Advantage product, purpose built to uniquely serve patients with kidney disease. Their model, in partnership with leading nephrologists will demonstrate superior clinical & patient outcomes."

About Gold Kidney Health Plan

Gold Kidney Health Plan is a Medicare Advantage Plan offering Medicare Advantage products for beneficiaries with Chronic Special Needs. Gold Kidney currently holds an insurance license in Arizona and a Medicare contract from CMS (Center for Medicare Medicaid Services). Gold Kidney's patient-centric care approach integrates payor, provider, and care management technology to effectively improve patient outcomes and quality. At Gold Kidney, the patient's well-being is our number one focus and priority. To learn more, visit www.GoldKidney.com.

About Chicago Pacific Founders

Based in Chicago and San Francisco, Chicago Pacific Founders ("CPF") is a leading strategic private equity firm focused on investing in growth companies within value-based care, healthcare services, AI and tech enabled services, and caring for aging populations. CPF believes that the most significant societal impact and investment returns from healthcare for the next decade will be generated by investment in delivery model innovation. CPF's leadership team is made up of former healthcare founders, senior executives, and investment professionals with a passion and track record of building healthcare businesses. For more information, please visit www.cpfounders.com.

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SOURCE Gold Kidney Health Plan