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A fresh round of funding for Cityblock
Investors must think Cityblock Health’s math works out. After raising $192 million four months ago, the startup, which uses technology to deliver primary care to people covered by Medicaid, has tacked on another $400 million in funding, sources told Erin. That brings the valuation of the company to $5.7 billion. Cityblock’s model is inherently risky: Typically, it gets paid a lump sum to cover patients for a year, and uses a team of health care providers, social workers, and more to try and keep patients healthy and out of the hospital — splitting the savings with insurers if it succeeds, and taking a hit if it fails. Read more in Erin’s story.
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