Thyme Care, a healthcare company focused on cancer care, has raised more than $125 million in Series E funding. Morgan Health led the funding round, with support from healthcare companies Humana and CVS Health Ventures.
The round also included institutional investors such as AlleyCorp, HealthQuest Capital, Foresite Capital, Concord Health Partners, Frist Cressey Ventures, Town Hall Ventures, and a16z Bio + Health. The new funding will support Thyme Care as it continues to improve and expand its cancer care services.
“People living with cancer have traditionally been left to coordinate care themselves and pay more along the way. Thyme Care is changing that experience and making it possible to improve cancer care while lowering costs,” said Dan Mendelson, chief executive officer of Morgan Health. “We’re continuing to invest in Thyme Care because we’re confident they can continue to deliver value to patients and payers – as they make the next wave of cancer care innovation easier to access and navigate.”
Along with the Series E funding, Thyme Care is creating a new parent company called Thyme Companies. The company will build and support new independent businesses focused on solving major problems in cancer care.
Thyme Companies is working on areas such as making lower-cost biosimilar medicines more widely available and improving enrollment in clinical trials. Slow trial enrollment can prevent patients from getting access to useful treatments and can delay the development of new medicines. The first new business is expected to launch later this year.
“When we founded Thyme Care, our vision was never limited to one part of cancer care. We wanted to create a better oncology care system,” says Shah. “Thyme Care showed it could be done, and as we’ve grown alongside patients, providers and health plans, we’ve gained a deep perspective on the challenges that get in the way of better care. Thyme Companies is the next step in this journey, enabling us to build new solutions fully informed by what we’ve learned, while continuing to invest in the core business that made it possible.”
Thyme Care brings patients, doctors, and health plans together to improve cancer care while helping reduce healthcare costs. Its goal is to make sure everyone involved in a patient’s care works toward better health outcomes.
The company uses dedicated care teams and technology to support patients throughout their cancer treatment. It also works with existing healthcare systems to identify gaps in care, provide support between appointments, and help doctors make better treatment decisions while keeping costs in mind.
