Thyme Care Raises $125 Million at $2 Billion Valuation, Forms New Oncology Parent
Updated
Updated · CNBC · Sep 2
Thyme Care Raises $125 Million at $2 Billion Valuation, Forms New Oncology Parent
2 articles · Updated · CNBC · Sep 2
Summary
$125 million in Series E funding pushed Thyme Care's valuation above $2 billion as the cancer-navigation startup created a new parent, Thyme Companies.
Morgan Health led the round with Humana and CVS Health Ventures joining, giving Thyme a platform to build additional businesses around gaps in cancer care delivery, access and payment.
Thyme Care said it is profitable and cash-flow positive after revenue topped $125 million last year, with services reaching 10.5 million people nationwide and managing more than $7 billion in oncology spend.
Thyme Companies will first target cancer drug affordability and clinical-trial navigation, with its first new business expected later this year and acquisitions also under consideration.