NEW YORK--(BUSINESS WIRE)--Diana Health, the healthcare provider redesigning maternity and women’s health in partnership with leading health systems, today announced $11 million in Series A financing and a collaboration with TriStar StoneCrest Medical Center, part of HCA Healthcare, one of the largest hospital systems in the U.S. The funding, co-led by LRVHealth and .406 Ventures, with participation from existing investor AlleyCorp, will be used to launch Diana Health’s first locations in 2022, expand the company’s technology platform and position it for rapid growth in 2023 and beyond.
Diana Health works directly with hospital leadership to reimagine their women’s health programs by bringing together a tech-enabled, individualized care experience with a clinical redesign of labor and delivery. Using its evidence-based care model, Diana Health works with health systems to enhance the care experience for both patients and clinicians while improving outcomes and controlling costs. The company will open its first physical location and launch its first end-to-end maternal care program with TriStar StoneCrest in Smyrna, TN in the coming weeks.
“The care we receive as women, particularly during pregnancy and birth, has the potential to impact population health across generations while building lifelong connections between a family and their healthcare provider,” said Kate Condliffe, Co-Founder and CEO of Diana Health. “Traditional care models can make it challenging for providers to embrace this opportunity. That’s why we are completely restructuring care programs to provide engaging, whole health support that will drive meaningful change in the lives of women and families.”
There is a growing movement in the United States to improve maternal health. Pregnancy related death has more than doubled over the past 25 years and more women die from childbirth in the US than in any other developed country. Sixty thousand women annually experience severe complications during pregnancy and birth that, according to the US Centers for Disease Control, “result in significant short- or long-term consequences to a woman’s health.” And to compound these challenges, the United States is experiencing a severe OB/GYN shortage, which The American College of Obstetrics and Gynecology (ACOG) predicts will leave the U.S. short 22,000 OB/GYNs by 2050.
Diana Health helps health systems transform their care programs and build trusting relationships with women and families using integrated care teams, an engaging digital platform and an evidence-based and patient-centered care program. This gives an advantage to systems who are looking for comprehensive prenatal and postpartum care solutions that are good for women and good for providers.
Louis Caputo, the Chief Executive Officer of TriStar StoneCrest, said, “Diana Health’s unique program offers operational assistance through their dedicated specialists for labor and delivery. By working together to support our maternity colleagues and our patients, we enhance outcomes for both mother and baby, offer more personalized delivery options and provide healthier tomorrows to every mother and baby. Diana Health does this through a new model of care that elevates quality and helps us to become the destination for women looking for a modern, individualized care experience in our community.”
“We have been looking for an elegant solution in the women’s health space for over seven years,” said Payal Divakaran, Partner at .406 Ventures. “What excites us about Diana Health is that not only will their care model dramatically improve outcomes and fill gaps in the patient experience, but also that their end-to-end approach is the first win-win solution for patients, providers, health systems and payers alike. They are well-positioned to rapidly scale and to set a new standard of care for maternity care.”
“The status quo for maternal care in the U.S. needs to change and the way care is delivered needs to be reinvented,” said Ellen Herlacher, Principal at LRVHealth. “Kate and her team have conceived a formula that will drive much needed change and positive impact on women’s health. Diana Health’s care model design, delivered through partnerships with leading health systems, is thoughtful, effective, and appealing to healthcare consumers.”
With the completion of this funding, Payal Divakaran and Ellen Herlacher have both joined Diana Health’s Board of Directors.
Condliffe said, “At Diana Health, we are setting a new standard of care for women’s health - one that inspires, supports, and empowers all women to live healthier, more fulfilling lives. We are thrilled to be working with some of the country's leading health system executives and healthcare investors to bring this vision to life.”
About Diana Health
Diana Health is a modern women’s health provider that works in partnership with leading health systems to redesign their maternity and women’s health service lines. Through its network of modern women’s health practices, Diana delivers an individualized, wellness focused care program that puts women at the center of decision making and empowers them with the information and support they need to achieve their health and wellness goals. We are restructuring the traditional approach to care and aligning incentives across stakeholders with integrated care teams, smart technology and a designed care experience that is good for patients and good for providers. Whether you are having a baby, or at any life stage, we are on a mission to empower, inspire and support the women we serve to live happier, healthier, more fulfilling lives. For more information, visit www.HeyDianaHealth.com.
About .406 Ventures
.406 Ventures is a Boston-based early-stage venture capital firm investing in healthcare and enterprise technology companies founded by visionary entrepreneurs. The firm was founded in 2005 and has over $1B under management across four core and two opportunity funds. The firm leads, or co-leads, Series A rounds in market-changing companies. .406 Ventures’ healthcare theses focus on systems, technologies, and services that improve clinical delivery, with investments in companies such as AbleTo, Equip, Heartbeat Health, Iora Health, Nomad Health, Redox and WelbeHealth. Learn more at 406ventures.com.
About LRV Health
LRVHealth is the “Inside Healthcare” venture capital platform. LRVHealth’s investors include leading provider, payer, and vendor organizations, comprising a network that touches one in three healthcare consumers across the U.S. Together, this network collaborates to identify, invest in, and adopt innovative solutions to the industry’s most pressing needs. Founded in 2000 by an experienced team of healthcare investors, operators, and advisors, the LRVHealth team provides early-stage capital, operating experience, and industry insight to build the next generation of great healthcare companies. For more information, visit www.LRVHealth.com.
