ModifyHealth Secures $10 Million Series B Investment to Fuel Growing Demand for Its Medically Tailored Meals and Food as Medicine Platform
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 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.