McKesson Ventures Invests in Home Care, Adds ClearCare to Portfolio

Sigue a La Raza en Facebook

Funding advances vision of a connected healthcare system,
prioritizing the role of home care

SAN FRANCISCO–(BUSINESS WIRE)–ClearCare, the leader in software solutions for private duty home care
agencies, today announced it has secured strategic funding from McKesson
Ventures, the venture capital arm of McKesson Corporation.

With this investment, ClearCare will accelerate new integrations into
its platform, including telemedicine services, remote monitoring and
diagnostics, and the ability to provide medical supplies and medications
to all partners across the United States. The funding will also be
allocated toward strengthening ClearCare’s cloud-based web and mobile
software technology while capitalizing on a growing market demand for
healthcare solutions that are proven to save money and shift
point-of-care to the home.

“With the rapidly aging baby boomer generation entering retirement
years, improving the quality of home care is more important than ever,”
said Geoffrey Nudd, CEO at ClearCare. “We’re excited to be the bridge
connecting home care to the larger healthcare system. With McKesson’s
investment, our organizations can work together to achieve that vision.”

ClearCare boasts the largest home care network in the nation, serving
four of the top five national home care enterprises. The agencies
powered by ClearCare have the largest number of caregivers (250,000) and
seniors (150,000) under care. Today, ClearCare’s network of partners
provides more than 150 million hours of care annually, growing by
roughly three million hours of care every month. In addition to its
network growth, ClearCare is currently working with Harvard on a
three-year study to improve measurability of care outcomes.

“Given the shift toward value-based payments, it is more important than
ever to cost-effectively support and monitor patients the 360 days they
are outside the provider’s office. We see a significant growth
opportunity in finally connecting consumer-sponsored at-home care with
the traditional healthcare delivery system for better patient
coordination,” said Tom Rodgers, SVP and managing director, McKesson
Ventures. “We see ClearCare as the strongest and most broadly utilized
platform on the market – for customers small or large – to enable
high-quality services in the home and track clinical data on each
individual’s health status.”

The latest round of strategic funding follows an $11 million funding
round in 2014, led by Bessemer Venture Partners (BVP), with
participation from Cambia Health Solutions and existing investors
Voyager Capital, Qualcomm Ventures and Harbor Pacific Capital. Prior to
this strategic investment by McKesson Ventures, ClearCare raised $15.5
million.

About ClearCare

ClearCare Online is a cloud-based home care software platform supporting
private-duty home care companies for efficient, cost-effective aging at
home. ClearCare’s web and mobile platform helps home care agencies
operate efficiently, scale services and improve the quality and
documentation of care on behalf of their patients. For more information,
please visit www.clearcareonline.com.

About McKesson Ventures

McKesson Ventures is the venture capital arm of McKesson Corporation
specializing in early and growth stage companies. McKesson Ventures
targets companies that both catalyze and benefit from the key changes
taking place in the U.S. health care landscape. McKesson Corporation,
currently ranked 11th on the FORTUNE 500, is a health care services and
information technology company dedicated to making the business of
health care run better. We work with payers, hospitals, physician
offices, pharmacies, pharmaceutical companies, and others across the
spectrum of care to build healthier organizations that help deliver
better care to patients in every setting. Visit www.mckessonventures.com
to learn more.

Contacts

For ClearCare
Tyler Hoffman, 415-891-4907
tyler@methodcommunications.com
or
McKesson
Ventures
Kristin Hunter, 415-983-8974
Kristin.Hunter@McKesson.com