InterWell Health Partners with Over 1,000 Nephrologists in $46 Million Series B Equity Round

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Apr 22, 2021, 13:00 ET

WALTHAM, Mass., April 22, 2021 /PRNewswire/ -- InterWell Health, the leading physician organization driving innovation in the renal industry, announces the closing of a Series B round of equity funding of over $46 million. This private offering brings together more than 1,000 nephrologist investors representing 55 nephrology practices in 31 states into InterWell Health.

InterWell Health was founded in December 2019 with initial funding of $20 million from 16 nephrology practices and Fresenius Medical Care North America (FMCNA), the world's largest, vertically integrated kidney care company.

"This offering expands our investor group of premier, visionary nephrology practices across the country," said Kim Sonnen, President of InterWell Health. "We are poised to deliver extraordinary value to patients, providers, and payors under value based arrangements that support individuals living with chronic kidney disease. Our hallmark is the physician investment, leadership, and engagement that drives the InterWell Health business model."

Through its network of more than 1,400 nephrologist network participants, and its partnership with FMCNA, InterWell Health deploys a broad scope of data-driven and clinically-proven tools to effectively identify and manage chronic disease for the vulnerable renal patient population.

"We partner with Fresenius Health Partners, the national leader in renal value based care, to provide clinical work flows, care team support, and robust data analytics that support our network physicians who direct the care of renal patients across the full continuum of care," said George Hart, M.D., Co-Chief Medical Officer of InterWell Health and President of Metrolina Nephrology Associates, Charlotte, NC. "This combination sets us apart from the competition and positions us as best in class."

"We are excited to join InterWell Health, whose highly effective business model puts physician leaders across the country at the forefront of driving rapid adoption of clinically-sound best practices and innovation in the care of renal patients," said Timothy A. Pflederer, M.D., President, Illinois Kidney Disease and Hypertension Center, Peoria, IL. "As physicians, we are committed to the long-term care of these patients, and InterWell Health positions us to truly transform care models that improve patient outcomes and quality of life."

Kidney disease is estimated to affect 37 million individuals nationwide, and nephrologists manage their care through early identification, education, and interventions that slow progression, help them navigate through the transplantation process, and support their transition to renal replacement therapy. InterWell Health is comprised of a high-performing network of nephrologists and, in partnership with FMCNA and premier nephrology practices, brings a decade of proven success in value based arrangements.

For more information about InterWell Health, visit www.interwellhealth.com.

About InterWell Health

InterWell Health is a national, physician-centric joint venture between 55 premier nephrology practices and Fresenius Medical Care North America (FMCNA). Through its nephrology network of more than 1,400 physicians, InterWell Health is positioned to manage kidney patients under at-risk arrangements with public and private payors across the full continuum of chronic kidney disease, transplant, end stage renal disease, and conservative care. The InterWell business model deploys data analysis and care models developed and refined over the last decade and proven to be successful. The combined resources and clinical and analytical expertise of the nephrology partners and FMCNA are transforming care models for renal patients in ways that improve patient outcomes and achieve payor goals. For more information, visit the company's website at www.interwellhealth.com.

Media Contact:

Farzeen Ventresca
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(215) 570-6016

SOURCE InterWell Health