Devoted Health Revenue, Valuation, Funding & Investors

WeDoctor is a Hangzhou-based digital healthcare company that grew out of the hospital appointment booking site Guahao.com, founded in 2010 by Jerry Liao. It was renamed WeDoctor in 2015 and operates an internet healthcare platform linking hospitals, doctors, patients, pharmacies and insurers. Services include online appointment booking, remote consultation, prescriptions and AI-assisted care, and it set up the Wuzhen Internet Hospital in 2015, described as China's first internet hospital. In its recent Hong Kong listing filings the company describes itself as a provider of AI healthcare solutions built around a contracted-population, capitated-payment model for local health communities. Investors have included Tencent, Fosun, Hillhouse Capital, Goldman Sachs, AIA Group, NWS Holdings and Sequoia Capital China, and it raised a US$500 million pre-IPO round in 2018 and about US$400 million in a further pre-IPO round around the turn of 2021.

Cityblock Health is a New York value-based healthcare provider for Medicaid, dual-eligible and lower-income Medicare members, founded in 2017 by Toyin Ajayi, Iyah Romm and Bay Gross as a spin-out of Alphabet's Sidewalk Labs. It delivers primary care, behavioral health, urgent care and social support through community health workers, clinicians and its Commons care-coordination platform, and is paid by health plans on risk contracts. It serves almost 200,000 members across several states and states annualized revenue of $2.2 billion, up 77 percent year over year. Backers include General Catalyst, Kinnevik, Tiger Global, SoftBank, Maverick, Redpoint and Thrive Capital. A $400 million round in September 2021 was reported at a $5.7 billion valuation, and in August 2026 it raised a $116 million Series E and agreed to acquire the rural Medicare Advantage provider Homeward Health in an all-stock deal.

Grand Rounds, now operating as Included Health, is a San Francisco-based healthcare navigation company providing virtual and in-person care coordination. It offers advocacy services for urgent care, primary care, behavioral health, and specialties, serving over 10 million members. Rebranded in 2022, it partners with employers and insurers to reduce costs through expert physician matching and claims optimization.

Molina Healthcare Inc provides medical insurance plans through Medicaid, the individual exchanges, and Medicare. The company operates in four reportable segments consisting of: 1) Medicaid; 2) Medicare; 3) Marketplace; and 4) Other. It manages health benefit risks for more than 5 million people, with more than 85% of those members coming through contracts with state governments for their Medicaid programs. Medicaid contracts in four states-California, New York, Texas, and Washington-account for over half of its enrollees.

Oscar Health Inc is a healthcare technology company built around a full stack technology platform and a relentless focus on serving its members. It offers Individual & Family plans and health technology solutions that power the healthcare industry. Oscar operates as one segment to sell insurance to individuals, families and employees through the federal and state-run healthcare exchanges formed in conjunction with the Patient Protection and Affordable Care Act (ACA) and leverages its technology platform to provide services via its Oscar offering.

Max Healthcare Institute Ltd is a health care service provider. The company's facilities include third-party healthcare providers with whom the company has entered long-term service contracts for providing clinical, radiology, and pathology services. Its hospitals provide the full range of services through its Outpatient, Day Care, Emergency Room, and In-Patient departments to accommodate medical specialties such as orthopedics, internal medicine, general surgery, cardiac sciences, oncology, neurosciences, and obstetrics, as well as diagnostics. The group derives revenue from India.

Ro is a New York City-based telehealth company that combines online physician consultations, its own pharmacy, laboratory testing and in-home care, with patients paying without insurance. Zachariah Reitano, Saman Rahmanian and Rob Schutz founded it in October 2017 as Roman, an erectile dysfunction service, and it has since added services for women's health, weight management and fertility. Its prescriptions include GLP-1 obesity medicines, and it works with Eli Lilly (Zepbound vials through LillyDirect, December 2024) and Novo Nordisk (the Wegovy pill, January 2026). Sacra estimates revenue of $360 million in 2023 and $598 million in 2024, up 66 percent. Ro earns revenue from telehealth visits and from prescriptions and products fulfilled through its pharmacy network. It has raised about $1 billion of primary capital, most recently $150 million in February 2022 at a $7 billion valuation led by ShawSpring Partners. Acquisitions include Workpath (December 2020), Modern Fertility (2021, more than $225 million) and Kit (2021).

Hims & Hers, launched in 2017, is a telehealth platform that connects patients and healthcare providers to offer treatment options for specialties like erectile dysfunction, hair loss, skin care, mental health, and weight loss. Its offerings include generic, branded, and compounded prescription drugs as well as over-the-counter medicines, cosmetics, and supplements. The platform, which has more than 2 million subscribers, is available in all 50 states and certain European markets like the UK. It includes provider networks, electronic medical records, cloud pharmacy fulfillment, and personalization capabilities. Hims does not take insurance and only accepts payments directly from customers.

Cerebral is a US-based telemedicine provider offering mental health care for anxiety, depression, and ADHD. Headquartered in San Francisco, it connects patients with licensed therapists and prescribers via app for medication management and therapy sessions. The platform serves all 50 states with insurance billing for Aetna and Cigna. Cerebral uses evidence-based protocols like CBT and follows APA guidelines. Launched in 2020, it expanded to couples counseling.

Doctolib is a healthcare technology company that runs an online platform on which patients book appointments with doctors, dentists, nurses and other practitioners, and sells practice-management software to those practitioners. Its subscription product covers agenda and patient management, electronic patient records, video consultation, secure messaging and tools for hospitals and clinics, while patients use the service free of charge. The company earns most of its revenue from monthly subscriptions paid by healthcare professionals and from software sold to health facilities. Doctolib was founded in 2013 by Stanislas Niox-Chateau and partners and is headquartered in Paris. It operates in France, Germany and Italy and entered the United Kingdom through an acquisition. It has grown partly through acquisitions of booking, communication and artificial intelligence businesses, and it develops clinical assistant tools based on language models.

Sword Health is a digital health company that delivers physical therapy and related care through an AI-guided platform combined with licensed clinicians. It was founded in Portugal in 2015 by Virgilio Bento and Marcio Colunas and operates in the United States, Ireland and Portugal. Its programs cover musculoskeletal pain, women's health, cardiometabolic risk and mental health, and are sold to employers and health plans, which pay for their members to use the service. The company said it works with more than 1,000 enterprise clients and has raised more than 300 million dollars from investors including Khosla Ventures, General Catalyst, Transformation Capital and Founders Fund. It raised 40 million dollars at a 4 billion dollar valuation in June 2025 and bought Surgery Hero in 2025 and Kaia Health in 2026. In August 2026 it announced an agreement to acquire Headspace.

Noom is a digital health platform combining psychology, AI, and human coaching for wellness goals including weight management, diabetes prevention, and stress reduction. New York City-headquartered, it secured grants from the National Institutes of Health and became the first mobile app certified by the Centers for Disease Control for diabetes prevention. Noom serves millions via app-based programs with behavioral tracking and virtual coaching sessions. Recognized by Inc and Fortune for workplace culture, it operates globally with personalized nutrition and habit-building modules.

Bethesda-headquartered Aledade is a healthcare technology company that enables independent primary care practices to form and operate Accountable Care Organizations. The platform delivers practice transformation tools, revenue cycle management, and analytics to improve patient outcomes and reduce costs. Aledade supports over 1,300 physicians across 15 states, achieving Medicare savings exceeding $1 billion since 2014. The company offers upfront capital and ongoing coaching to physician partners in rural and urban areas.

Grow Therapy is a New York-headquartered online platform connecting clients with licensed mental health providers across all 50 U.S. states. It handles credentialing, billing, and insurance claims for in-network therapists, integrating with Aetna, Cigna, Medicare, Medicaid, and UnitedHealthcare among 100-plus payers. The service delivers matched referrals, business tools, peer communities, and continuing education events to independent practitioners. Supporting thousands of therapists serving over 1 million clients, Grow Therapy raised $178 million from investors including Sequoia Capital and Goldman Sachs Alternatives.

Shanghai-headquartered Ping An Good Doctor is a leading online healthcare platform and wholly-owned subsidiary of Ping An Insurance Group. Launched in August 2014 with RMB 350 million registered capital, it operates three core networks encompassing doctors, pharmaceuticals, and health information. The platform supports online consultations, multi-segment doctor-patient management, drug O2O services, electronic health records, chronic disease management, and pediatric health services. Ping An Good Doctor integrates physician resources amid China's healthcare reforms and develops vertical applications for children's health and chronic conditions. Its ecosystem positions it as a comprehensive provider of one-stop health management solutions in the mobile internet era, with services accessible via http://www.jk.cn/.

Garner Health is a New York-headquartered healthcare technology company delivering bundled payment solutions to employers. The platform facilitates direct access to high-quality physicians at reduced costs, improving employee care experiences nationwide. Garner partners with self-insured employers to manage medical spend through transparent pricing models for procedures like orthopedics, cardiology, and radiology. Launched in 2018, it processes claims across multiple states, emphasizing compliance and data analytics for healthcare savings.

Apollo HealthCo, operating as Apollo 24/7, is a digital healthcare platform and subsidiary of India's Apollo Hospitals Enterprise. It offers doctor consultations, medicine home delivery, diagnostics, chronic-condition management, and insurance, reaching more than 33 million users since its February 2020 launch. Through its Keimed wholesale pharmaceutical distribution arm, the platform also supplies pharmacies across more than 1,100 cities in 27 Indian states.

Somatus is a McLean-headquartered value-based care provider for kidney disease patients. It integrates clinical services, technology, and nephrology partnerships with health plans to promote home dialysis and transplants. Founded in 2017, the company serves over 100,000 patients through 100 clinics nationwide.