RICHMOND, Va., June 10, 2021 / PRNewswire / – Today AllyAlign Health (AAH), a Medicare Advantage insurance company that improves the health and well-being of residents of senior housing communities, announced a new investment in the company led by a global venture capital company New Enterprise Associates, Inc. (NEA), with the participation of Oak HC / FT, Town Hall Ventures and the existing investors Heritage Group and Ziegler. The new capital will allow AllyAlign to continue investing in its people, partners and technology to fuel growth and enable more seniors across the country to benefit from AllyAlign’s clinical and technology-based care model.
“Eight years ago we embarked on a bold mission – to transform the care of frail, vulnerable seniors by using a full risk model in collaboration with highly qualified care and senior housing partners,” said Will Saunders, Founder of AllyAlign Health. “We are proud of the impact and improved health outcomes we have had within the senior community to date and welcome the opportunity to expand our offering.”
In conjunction with the new investment, the healthcare industry veteran, Mark price, will take the helm as CEO of AllyAlign Health. Price was formerly president of the Nevada Region for Intermountain Healthcare, with previous senior management positions at DaVita, ChenMed and Bain and Company.
“I am excited to join the talented team at AllyAlign Health and be part of the mission to improve the quality of life for seniors across the country. AllyAlign has developed a senior living community care model that is accessible, comprehensive and compassionate with proven results, “said Mark price, CEO of AllyAlign Health. “I’m also excited that NEA will support us on this journey. NEA brings highly relevant expertise as it has helped build and scale hundreds of transformative healthcare and technology companies over the past 40 years.”
AAH is working to establish a health ecosystem in senior housing that will create better outcomes and experiences for residents, the communities they live in, doctors and other caregivers. Senior living communities, doctors and other caregivers are given the opportunity to be successful in a value-based care model that offers more support and also rewards them for high-quality, evidence-based care. A key component of the AAH model is the establishment of intensive partnerships with senior living communities. AAH adapts its approach to the needs of each community and seeks to honor and reward senior living communities and their employees for their important work.
“AllyAlign was pressure tested during the COVID pandemic; their model had worked well before 2020 but their exceptional services have really worked over the past year, ”said Mohamad Makhzoumi, General Partner and Head of Global Healthcare Investing at NEA. “We have closely followed the evolution of value-based long-term care over the years and are delighted to be working with AllyAlign to expand and scale their services, and we look forward to supporting this next phase of growth that will bring better care to the US American senior population. “
About AllyAlign Health
AllyAlign Health (AAH) began improving the long-term care ecosystem in 2014 by helping leading long-term care (LTC) providers achieve success with value-based care models for their vulnerable elderly populations. Today, AAH Medicare Advantage (MA) manages Institutional Special Needs Plans (I-SNPs), Chronic Care Special Needs Plans (C-SNPs) for dementia, and Dual-Eligible Special Needs Plans (D-SNPs) to help lower healthcare costs and reduce patients to improve quality of life. Founded by Will Saunders in the Richmond, Virginia, innovative turnkey solutions and proprietary technology support health plans in the United States www.allyalign.com or email AAH at firstname.lastname@example.org.
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformative companies across multiple phases, sectors, and regions. With almost $ 24 billion of accumulated tied capital since the company was founded in 1977, NEA has invested in technology and healthcare companies at all stages of a company’s life cycle, from seed to IPO. The company’s long history of investment success includes more than 230 portfolio companies’ initial public offerings and more than 390 mergers and acquisitions. www.nea.com.
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SOURCE AllyAlign Health