Investment supports ModifyHealth's continued growth and capability expansion to change lives by making food as medicine simple, effective, and enjoyable.
ATLANTA, January 10, 2023 /PRNewswire/ --
ModifyHealth™ a nationwide food as medicine platform and provider of medically tailored meals announced the closing of a $10 million Series B funding led by RC Capital (RCC) with participation from existing investor Nashville Capital Network (NCN). The partnership with RCC 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.
Working directly with patients and partnering with payors, employers, and healthcare systems, ModifyHealth's turnkey 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.
Research repeatedly demonstrates that the nutritional content, quality, and quantity of food we consume has a significant impact on our health and wellness. While most intuitively know this to be true, obesity and diet-related chronic conditions continue to rise, accounting for nearly 75% of all health care dollars spent in the US.
For many, the "want to" for a healthier lifestyle and improved quality of life is there. It's the "how to" that's lacking. Being told to adopt a healthy diet is common. Data shows the ability to do so without help and support are rare. ModifyHealth's turnkey FIT™ program includes medically tailored meals, dietitian coaching, and ongoing support that make adopting a healthier diet simple, achievable, and sustainable.
"RCC invested in our last company EndoChoice, which built a leading platform within the GI space. We're excited to partner with them again and look forward to putting this new capital to work to support more patients," says GB Pratt, Founder & CEO of ModifyHealth. "Diet and lifestyle play a vital role in the management of chronic health conditions and we're just scratching the surface on the impact we can make. RCC is a great fit for ModifyHealth and their strategic support, healthcare expertise, and shared vision will help us deliver outcomes more rapidly and broadly."
"RC Capital partners with founders and management teams of high-growth companies like ModifyHealth that deliver enduring value to the healthcare industry, and ultimately, better health outcomes for patients," says Rik Vandevenne, Managing Partner at RC Capital who will also join the company's Board of Directors. "ModifyHealth's team has delivered rapid growth on a national scale, and we look forward to supporting the company's market leadership and next chapter of growth.
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.
RC Capital (RCC) is a healthcare-focused growth equity firm endeavoring to partner with high–potential healthcare companies and healthcare executives. We are dedicated to investing on the right side of healthcare, building companies that enable clinicians to improve the delivery of care and advance the experiences and outcomes for patients everywhere. We seek to be a business partner first and a capital provider second, leveraging a network of deep healthcare relationships assembled over our 28–year operating history. For more information, please visit rccapital.com.
Nashville Capital Network (NCN) is a partnership of more than 100 professional investors, most of whom have been founders and executives of highly successful companies. By leveraging the experience and expertise of the individuals within its partnership, NCN is able to identify, develop, and support promising, high growth companies. For more information on NCN, please visit nashvillecapital.com.
Chief Brand Officer, ModifyHealth