Landmark Health Acquisition, Valuation, Funding & Investors

Landmark Health was acquired by Optum for $3.5B in February 2021, a 20.6x multiple on $170M of revenue.

Landmark Health acquisition price

$3.5B

Acquired by Optum · Feb 2021

Landmark Health revenue at acquisition

$170M

Last twelve months · Feb 2021

Landmark Health revenue multiple at acquisition

20.6x

EV/Revenue · Feb 2021

Cumulative funding Landmark Health raised

$61M

across 2 funding rounds

Landmark Health Overview

About Landmark Health

Landmark Health is a provider of in-home primary care for patients with complex chronic conditions. Mobile teams of physicians, nurse practitioners, and social workers conduct regular house calls coordinated with primary care providers. Headquartered in Boston, Massachusetts, following acquisition by UnitedHealth Group in 2020, it serves Medicare Advantage plans in multiple states.


Founded

2013

HQ

United StatesAlbany, NY

Status

Acquired

Customer focus

B2B

Revenue model

Services

Revenue

$170M (Feb 2021)

Valuation

$3.5B (acquired Feb 2021)

Landmark Health Acquisition

Landmark Health was acquired by Optum for $3.5B on 21 February 2021.

The acquisition price implies a 20.6x revenue multiple on $170M of revenue.

Before the acquisition Landmark Health had raised $61M across 2 funding rounds.

Landmark Health is an in-home medical group providing physician-led multidisciplinary care, including medical, behavioral, palliative, and social services to patients with complex chronic conditions directly in their homes. The company partners with existing healthcare networks to improve outcomes and reduce costs outside traditional fee-for-service models. Optum, part of UnitedHealth Group, acquired Landmark Health in a deal reportedly valued at $3.5 billion, announced around February 21, 2021, and still under regulatory review at the time of reporting. The acquisition aligns with Optum's strategy to expand value-based care capabilities, particularly in home-based services amid rising demand driven by COVID-19 and shifts toward care outside traditional settings. UnitedHealth Group emphasized the importance of home-based interventions, noting that roughly 80% of health impacts occur outside clinical environments. This move positions Optum competitively against other payers-turned-providers like Humana, enhancing its population health management through integrated in-home primary care. Landmark operates with over 500 employees and serves as part of Optum's broader home care portfolio, alongside later acquisitions like LHC Group, to deliver coordinated, high-touch care and capitalize on Medicare Advantage risk-based payments.

Landmark Health acquisition details
AcquirerDateTypePriceEV/Revenue
  • Optum
21 Feb 2021Strategic M&A$3.5B20.6x

Landmark Health Funding History

Landmark Health has raised a total of $61M across 2 funding rounds.

Landmark Health's first fundraising round was a $200K seed round in February 2015. The most recent completed round was a $61M undisclosed-stage round in August 2016.

Landmark Health funding rounds

Landmark Health funding rounds
DateStageInvestorsRaisedDeal Summary
Aug 2016Undisclosed stageOxeon Partners$61MLandmark Health was a comprehensive in-home medical care company focused on treating the sickest and frailest patient populations. The company raised a total of $60.9 million across seven rounds of funding from investors including Optum, Town Hall Ventures, General Atlantic, Francisco Partners, and McKesson Ventures. Landmark Health was acquired by Optum for $3.2 billion in cash on February 21, 2021, approximately eight years after its founding.
Feb 2015Seed-$200K-

Who has invested in Landmark Health?

1 investor has backed Landmark Health across its funding rounds, including Oxeon Partners.


Landmark Health Investors

Investors in Landmark Health by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Landmark Health Competitors

Landmark Health competitors include listed companies like Clover Health and Hims, and private ones like Cityblock Health, WeDoctor, Grand Rounds and Devoted Health.

Public and private companies comparable to Landmark Health
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Cityblock HealthUnited StatesNew York City, NYPrivate--$5.7B-
WeDoctorChinaHangzhouPrivate$139M-$7B50.4x
Grand RoundsUnited StatesSan Francisco, CAPrivate--$1.3B-
Devoted HealthUnited StatesBoston, MAPrivate$3.3B-$13B4.0x
Clover HealthUnited StatesUnited StatesPublicly listed$1.9B($84M)$2.4B0.8x
HimsUnited StatesUnited StatesPublicly listed$2.3B$178M$6.5B2.4x

Landmark Health Public Comps

Landmark Health is no longer listed, but its public comps include Clover Health, Alignment Healthcare, Ping An Healthcare, JMDC, GoodRx, Teladoc, Talkspace, Hims, Guiyang Longmaster and Fortis Healthcare.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Clover Health$1.9B($84M)1.1x0.8x(25.8x)34.1x
Alignment Healthcare$3.9B$45M0.4x0.3x31.6x10.0x
Ping An Healthcare$815M$52M0.9x0.9x13.4x16.9x
JMDC$324M$88M5.0x4.6x18.4x17.9x
GoodRx$797M$173M1.8x1.8x8.1x5.5x
Teladoc$2.5B$124M0.6x0.6x11.3x5.0x
Talkspace$229M$6M3.4x3.4x129.3x49.4x
Hims$2.3B$178M3.1x2.4x40.4x23.9x

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Common questions about Landmark Health

When was Landmark Health founded?Landmark Health was founded in 2013.
Where is Landmark Health headquartered?Landmark Health is headquartered in Albany, NY, United States.
Is Landmark Health publicly listed?No, Landmark Health was acquired by Optum in February 2021.
Who acquired Landmark Health?Landmark Health was acquired by Optum in February 2021.
How much was Landmark Health acquired for?Landmark Health was acquired for $3.5B in February 2021, a 20.6x revenue multiple.
How much funding has Landmark Health raised?Landmark Health has raised $61M across 2 funding rounds.
What was Landmark Health's last funding round?Landmark Health's last funding round was a $61M undisclosed-stage round in August 2016.
Who are Landmark Health's investors?Landmark Health's investors include Oxeon Partners.
Which companies are comparable to Landmark Health?Companies comparable to Landmark Health include Cityblock Health, WeDoctor, Grand Rounds, Devoted Health, Clover Health and Hims.

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