Quartet Health rakes in $60M round, brings its total fundraise to $153M

The integrated behavioral and primary care platform said that it will be focusing its upcoming efforts on serving the Medicaid population.
By Dave Muoio
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Quartet Health, a startup focused on behavioral health and primary care, has brought in another $60 million in funding, bringing its total raise to $153 million. The Series D round was headlined by Centene Corporation, with support from returning backers F-Prime Capital Partners, GV, Oak HC/FT and Polaris Partners.

WHAT THEY DO

Quartet’s integrated platform links providers, payers and services together in its aim to more effectively deliver mental and primary care. Physicians, for instance, receive access to data that can help them identify patients with undetected mental health conditions, and through the intelligent platform can quickly refer them to a mental health specialist. Providers within the company’s platform can also share treatment plans or other relevant information to collaborate on the care of their patients, while patients have access to personalized support from Quartet’s customer service team.

WHAT IT’S FOR

The latest round will support Quartet’s ongoing expansion, the company wrote, with a particular focus on Medicaid beneficiaries who are in need of behavioral health services.

THE LARGER TREND

Quartet’s previous funding round came at the top of 2018, when it announced the appointment of three new executives to its board and a collaboration with Horizon BCBS of New Jersey. More recently, it launched a new initiative with BCBS of North Carolina.

However, the company raised some eyebrows during the latter half of 2018 due to the departure of a few key executives and a slew of scathing Glassdoor reviews.

ON THE RECORD

“We are committed to building a health care system in which every person with a mental health condition gets the care they need,” Dr. David Wennberg, CEO of Quartet, said in a statement. “In all we do, the patient is our north star. 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.”