Deal marks fourth investment from Pharos Fund IV, focused on value-based care
Pharos Capital Group, LLC (“Pharos”), a middle-market private equity firm based in Dallas and Nashville, announced today it has made a significant investment in Renal Care 360° (or the “Company”), a comprehensive nephrology practice and chronic care management company founded by accomplished renal care entrepreneur Joe Cashia. Renal Care 360° partners with health systems, physician groups and local communities to provide enhanced community healthcare management services with a primary focus on patients in underserved, rural communities.
Pharos’s investment, along with additional equity investment from the Company’s founding shareholders, will be used to support continued growth of the Company’s RC360° Connected Care Program, geographic expansion through acquisitions, and development of value-based care programs. Terms of the transaction were not disclosed.
Renal Care 360° has developed a unique model centered on early detection of unidentified chronic conditions using proprietary data analytics. Once medical conditions are identified, the Company offers early interventions through its affiliated physician practices with personalized education, real-time engagement, local and virtual clinic options, and dedicated care coordination to slow disease progression and improve outcomes for chronic kidney disease (“CKD”), end stage kidney disease (“ESKD”), and other co-morbidities. Renal Care 360° is also raising awareness and improving education of kidney disease in areas most impacted by inequities in access to care, enabling its health system and physician group partners to proactively engage and care for their patients.
Jim Phillips, a Partner at Pharos, said, “With the nationwide push to reform kidney care through deeper engagement of the population’s most vulnerable CKD and ESKD patients, we have observed Renal Care 360°’s use of machine learning to early-identify and intervene with comprehensive, compassionate care to be a uniquely impactful model. Their specialized approach helps to slow disease progression, prevent unnecessary hospital admissions, enable physician and health system partners to continuously engage with their patients, and dramatically improve patient experiences and outcomes. We are thrilled to be partnering with a management team whose longstanding dedication to kidney care, physician practice management, home health, and population health is only rivaled by their passion to meaningfully improve and prolong the lives of many thousands of patients who may otherwise slip through the cracks.”
Renal Care 360° founder Joe Cashia will continue to lead the Company as Chairman and CEO. Mr. Cashia is a 35-plus-year veteran of the healthcare industry with deep experience across the continuum of kidney care who has partnered with physicians and hospitals across the country and has created, acquired, and managed more than 1,000 healthcare centers. Previously serving as CEO of National Renal Alliance, Vivere Health, and Ascend Health Care Services and in various Board roles, Mr. Cashia has extensive experience in scaling complex healthcare service organizations with a deep appreciation for the importance of partnering with physician leaders and clinicians to drive value-based care initiatives and improve patient outcomes.
Mr. Cashia noted, “We are pleased to bring in such an experienced, healthcare-focused partner to help Renal Care 360° rapidly expand its care model to touch the lives of as many patients as possible. Pharos’s dedication to bridging inequities in care, demonstrated by their proven track record guiding value-based healthcare organizations, will be invaluable as we grow our clinic footprint, scale chronic care management infrastructure to meet the overwhelming market need, and work with health systems and payors to align incentives around optimization of patient outcomes to generate transformational cost savings to the system.”
This marks the fourth investment from Pharos’s latest flagship fund, Pharos Capital Partners IV, L.P., investing alongside its parallel fund, Pharos Capital Partners IV-A, L.P., a licensed Rural Business Investment Company. The funds will continue Pharos’s mission of lowering costs, improving outcomes, and expanding access to care, particularly within underserved rural communities.
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