ModifyHealth Announces Strategic, Series B Investment from Middleland Capital's VTC Ventures to Support Increased Demand for its Food-as-Medicine Solutions

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Apr 12, 2023, 10:12 ET

Investment supports ModifyHealth's continued growth, impact, and capability to improve outcomes for individuals with chronic conditions.

ATLANTA, April 12, 2023 /PRNewswire/ -- ModifyHealth™, an innovative food-as-medicine platform and provider of medically tailored meals, welcomes VTC Ventures as a strategic addition to its Series B investment led by RC Capital and Nashville Capital Network. The funding will support ModifyHealth's continued growth of its category-leading food-as-medicine solutions and further expansion of its nationwide operations to deliver meaningful patient outcomes.

Middleland Capital is a member of the investment syndicate that recently launched the Food, Nutrition and Health Investor Coalition (FNHIC), which will drive $2.5 billion in private investment over the next three years to improve hunger and health outcomes through food. The coalition plans to highlight and financially support the incredible amount of emerging technological innovation underway that leverages the power of affordable and nutritious food to remediate hunger and improve human health.

Working directly with patients and partnering with payors, employers, and healthcare systems, ModifyHealth's turnkey FIT™ (Foundation, Immersion, Transition) program decreases cost and improves outcomes for chronic conditions like type 2 diabetes, hypertension, kidney disease, obesity, and irritable bowel syndrome, where dietary management is a recommended treatment.

"Evidence supports what all of us intuitively know – healthy diets and lifestyles are central to preventing, managing, and, in many cases, reversing chronic conditions," says ModifyHealth Founder & CEO G.B. Pratt. "For many with chronic conditions, the 'want to' for a healthier lifestyle exists. It's the 'how to' that remains a challenge. Our program is designed to make the 'how to' simple, achievable, and sustainable. We're excited to partner with VTC Ventures and look forward to impacting lives together."

"Partnering with high-growth, high-impact companies that deliver enduring value to the healthcare industry and, ultimately, better health outcomes for patients are central to our values," said James Ramey, JD, Managing Director at VTC Ventures. "ModifyHealth's team has delivered rapid growth nationally, and we look forward to supporting the company's mission with this investment." As part of the VTC Ventures investment, Carilion Clinic – a non-profit healthcare system serving one million people in Virginia's Blue Ridge and Southwest Virginia – will explore using the ModifyHealth platform in patient care. "The VTC Ventures investment aligns with Carilion's commitment to including lifestyle medicine as a foundation of healthy outcomes," said Michael Jeremiah, MD, FAAFP, Chair of Family & Community Medicine and Senior Medical Director of Population Health at Carilion. "Our clinical team is excited about the potential of this platform to support our patients and value-based care initiatives in the communities we serve."

About ModifyHealth

ModifyHealth changes lives by making food as medicine simple, effective, and enjoyable for providers and patients. Along with home-delivered Low FODMAP, gluten-free, Mediterranean, plant-based, and low-sodium meals, ModifyHealth provides dietitian support, remote patient monitoring, and education to ensure sustained benefits. ModifyHealth's turnkey programs improve outcomes and cost for chronic conditions such as diabetes, heart disease, kidney disease, irritable bowel syndrome (IBS) and related issues where dietary management is a recommended treatment. ModifyHealth partners with providers, payors, employers, and patients to make adopting healthier diets and lifestyles a reality. For more information, please visit modifyhealth.com.

About VTC Ventures
Managed by Middleland Capital, VTC Ventures is a private investment fund focused on life science and food/agriculture technology opportunities across the Commonwealth of Virginia and opportunities outside Virginia with a connection to Virginia Tech and/or Carilion Clinic. VTC Ventures aims to partner with exceptional management teams to commercialize innovative technologies, accelerate growth, and build long-term value. For more information, please visit www.vtcventures.com.

Media Contact: Ryan Moskowitz
Chief Brand Officer, ModifyHealth
[email protected]

SOURCE ModifyHealth