Cricket Health
The business, the turning points, and the decisions behind them.
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Sections to complete：02
01 / WHAT IT BUILT
What the company did
Cricket Health was a San Francisco-based provider of value-based kidney care, co-founded and led by Arvind Rajan (formerly Managing Director and Vice President of New Markets at LinkedIn, overseeing growth and operations in Asia Pacific and Japan). It was a technology-enabled specialty care provider for patients with chronic kidney disease (CKD) and end-stage kidney disease (ESKD), combining predictive analytics with an industry-leading patient engagement and data platform. Its approach delivered personalized, virtual, multidisciplinary care - by phone or online - to keep members with kidney disease healthy at home and out of clinics and hospitals whenever possible. Backed by Valtruis, Oak HC/FT, Cigna Ventures, Blue Shield of California, and K2 HealthVentures, it raised $83.5 million in a Series B round led by Valtruis. On March 21, 2022 Cricket Health announced a definitive agreement for a three-way merger with InterWell Health and Fresenius Health Partners to create the nation's premier value-based kidney care provider; the deal closed on August 24, 2022, creating a new company operating under the InterWell Health brand, valued at $2.4 billion with more than $6 billion of medical costs under management and over 100,000 covered lives.
02 / FAILURE REASONS
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03 / EVENT HISTORY
Events in the structured record
- $83.5M Series B
Cricket Health raised $83.5 million in a Series B round led by Valtruis, with strategic investment from Blue Shield of California and participation from Oak HC/FT, Cigna Ventures, and K2 HealthVentures.
- Three-way merger
On March 21, 2022 Cricket Health announced a definitive agreement to merge with InterWell Health and Fresenius Health Partners; the merger completed on August 24, 2022, creating a $2.4 billion company operating under the InterWell Health brand.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
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Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Raised approximately $111 million in total, including an $83.5 million Series B in 2021 led by Valtruis.
- 02
In March 2022 it announced a three-way merger with InterWell Health and Fresenius Health Partners, completed on August 24, 2022, valuing the new InterWell Health at $2.4 billion.
- 03
No audited loss figure was publicly disclosed.