Quartet Health eyes expansion with $60M Series D

by Katie Fustich
June 17, 2019
Quartet
image via shutterstock

Since it was founded in 2014, Quartet Health has helped thousands of Medicaid patients with its mental health-focused care platform. Now, the company has announced a new $60 million Series D funding round to double down on those efforts.

“We are committed to building a healthcare system in which every person with a mental health condition gets the care they need,” said Quartet CEO David Wennberg in a statement.

The funding comes courtesy of Centene, a multi-billion-dollar health insurance firm headquartered in St. Louis, MO.

Centene operates a range of offshoots, such as Fidelis Care, which insures nearly two million people here in New York City. Many of Centene’s customers are also Medicaid recipients, and therefore eligible for Quartet’s services.

We are committed to building a healthcare system in which every person with a mental health condition gets the care they need.”

Quartet currently operates a central platform used by physicians, mental healthcare professionals and insurance payers to coordinate patient care. The Quartet platform enables these providers to access and upload patient notes and data in a single, organized space.

The idea behind this method is that more thorough and centralized patient data will help improve patient outcomes, while also reducing costs.

Quartet plans to use its Series D funding round to open up its platform to additional user groups: social workers, case managers and other clinically adjacent professionals.

These individuals are often involved in many patient’s health journeys, making it important to bring them on the same page as those performing more traditional healthcare functions.

“In all we do, the patient is our north star,” Wennberg said. “Centene’s partnership enables us to continue to support the experience of individuals in need of mental health care services, including Medicaid beneficiaries and their team of care providers.”

Centene’s investment in Quartet Health brings the latter company’s total funding raised to $152 million.

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