Pillsbury Advises Thyme Care in $95 Million Capital Raise

New investor Concord Health Partners joined existing investors CVS Health Ventures, Town Hall Ventures, a16z Bio + Health, AlleyCorp, Echo Health Ventures, Frist Cressey Ventures and Foresite Capital in funding the $55 million Series C equity financing and Banc of California will support with an additional $40 million in debt financing.

Thyme Care collaborates with payers and providers to transform the experience and outcomes for individuals living with cancer. Thyme Care partners with health plans, employers and risk-bearing providers to assume accountability for enhanced care quality, improved health outcomes and reduced total cost of care. Thyme Care’s approach combines a technology-enabled Care Team and seamless integration with more than 800 oncologists in Thyme Care Oncology Partners, creating a hybrid collaborative care model that guides and supports the entire patient journey. Thyme Care empowers oncologists nationwide through purpose-built tech, advanced data analytics and virtual patient engagement, driving better care and outcomes in value-based arrangements.

Thyme Care expects to use the funds to grow and scale the business by expanding into new markets, investing in its existing oncology, primary care and health plan partnerships and deepening its clinical value-based care model.

To learn more about the transaction, click here.

The Pillsbury deal team was led by partner and Emerging Companies & Venture Capital practice co-leader Ron Fleming and included senior associate Taylor O’Toole and associates Sarah Konnerth and Hongxi Wang, with support from partner Jessica Lutrin and senior counsel Allen Briskin. The debt transaction team was led by Finance and Restructuring partner Thomas Gump.