Upward Health Announces Significant Growth Equity Investment Led by Heritage Group

PROVIDENCE, R.I.--(BUSINESS WIRE)--Upward Health, a leading home-based medical group that specializes in high-risk, high-need populations, today announced that it raised a significant equity financing led by Heritage Group, with participation from existing investors including Noro-Moseley Partners, the Blue Venture Fund and Windham Ventures.

Upward Health is a risk-bearing medical group delivering 24/7 in-home care that integrates physical and behavioral health with interventions that address challenges impacting health, such as food, housing, transportation and social isolation. The company partners with health plans, taking on risk and guaranteeing outcomes in both cost and quality across their most complex and high-cost populations.

“We are excited to partner with investors that are aligned with our vision of providing exceptional care for the highest cost, highest-need populations across the country,” said Glen Moller, CEO of Upward Health. “Our ability to engage these populations, form relationships of trust and provide high-quality, whole person healthcare, enables Upward to lower the total cost of care and improve quality measures for our plan partners.”

Upward Health partners with plans to identify members requiring in-home support to better manage multiple chronic conditions. The company pairs these members with care specialists who form trusted relationships and coordinate all aspects of the members’ care. The care specialist also enables Facilitated Virtual Care™ visits with Upward Health providers and works to support and strengthen any existing member relationships with primary care physicians.

“Upward Health’s innovative model enables its care teams to significantly improve the lives of its patients by providing access to the highest quality care in the comfort of their own homes, while also serving as valuable partners to its health plan customers,” said Lauren Brueggen, Partner at Heritage Group. “Heritage Group seeks to invest in solution-oriented businesses that improve the healthcare ecosystem, and we are thrilled to partner with the Upward team to support the company’s continued growth and national expansion.”

About Upward Health

Upward Health is an in-home multidisciplinary provider that partners with health plans and other risk-bearing entities to address the unique needs of high-risk, high-need patients. Using a unique, holistic, and community-based approach, Upward Health facilitates and delivers care that improves outcomes and the quality of life for every patient. To learn more, please visit: www.upwardhealth.com.

About Heritage Group

Heritage Group is a Nashville, Tenn.-based, healthcare-focused investment firm with more than 35 years of experience financing and operating healthcare companies at all stages. Heritage seeks to make majority and minority investments, ranging from $20 to $40 million per portfolio company, in high-growth healthcare services and healthcare technology businesses that address the challenges of the U.S. healthcare system. The firm's limited partners include some of the leading healthcare organizations in the nation, including large provider systems, payers and healthcare service providers. For more information, visit www.heritagegroupusa.com.