Diana Health – a network of modern women’s health practices that partner with hospitals to reimagine the way women’s healthcare is delivered – recently announced that it has closed $34 million in Series B financing led by Norwest Venture Partners. The company’s existing investors .406 Ventures, LRVHealth and AlleyCorp joined the round, bringing the total raised to $46 million.
Diana Health will use the funding round to bring its individualized and comprehensive care model to new communities across the U.S. and expand its digital platform and program offerings.
The U.S. has been facing a maternal health crisis. Despite spending $111 billion on maternity care annually, mortality rates in the U.S. are two times those of other developed countries, and the patient experience is inadequate. Along with access to labor and delivery (L&D) services is waning.
Over 400 hospitals have closed their L&D units between 2016-2020. Putting even more pressure on an already-strained system, a growing shortage of obstetricians and gynecologists is expected to reach 22,000 by 2050, according to the American College of Obstetricians and Gynecologists.
Diana Health offers an evidence-based care model that directly addresses these challenges. And Diana Health partners with hospital and health system leadership to restructure their women’s health programs with a clinical redesign of labor and delivery.
This model delivers a tech-driven holistic care experience for women and families, deploying integrated care teams of Certified Nurse Midwives, OB/GYNs, and mental health and wellness providers. And Diana Health’s approach helps hospitals improve health outcomes, lowering cesarean section and neonatal intensive care unit admissions rates while also addressing the operational and financial challenges hospitals grapple with daily.
Diana Health currently operates three sites in Tennessee in partnership with HCA TriStar StoneCrest Medical Center, HCA TriStar NorthCrest Medical Center and Cookeville Regional Medical Center. And the company will open three new sites in Florida in the next six months.
KEY QUOTES:
“We know that women want individualized, comprehensive care that puts them in the driver’s seat of their own health and improves outcomes. It is also how most providers want to practice. Health systems that partner with Diana Health are redesigning their existing practice structure and their workforce to align with these principles. This sets their programs up for growth and sustainability, earning the loyalty of patients by delivering better care.”
- Kate Condliffe, co-founder and CEO of Diana Health
“Diana Health has developed a solution that aligns interests across stakeholders, delivering value for women, payers, providers and health systems. Its unique approach restructures the core healthcare delivery model, giving hospitals a competitive advantage that earns patient loyalty through better experiences and outcomes, and helps lower costs and risks attributed to inadequate care and unnecessary medical procedures. The team at Diana Health has made tremendous progress to date. We look forward to bringing their solution to more communities as Diana Health expands nationwide and provides greater high-quality access to maternal and gynecological care.”
- Irem Rami, principal at Norwest Venture Partners and board member at Diana Health
