Thyme Care, a company focused on improving cancer care navigation, has raised $125 million in a Series E funding round, led by Morgan Health and supported by investors like Humana and CVS Health Ventures. This funding has nearly doubled its valuation from the previous year, now exceeding $2 billion.
The company, which serves over 10.5 million people and manages more than $7 billion in oncology spending, is transitioning to a new parent company called Thyme Companies, aimed at addressing gaps in cancer care delivery and affordability. Robin Shah, co-founder of Thyme Care, will serve as executive chairman of Thyme Companies, while Brad Diephuis takes over as CEO.
The new entity plans to focus on making cancer drugs more affordable, particularly through the adoption of biosimilars, and improving access to clinical trials. Thyme Care is now profitable and has the financial capacity to pursue acquisitions and talent recruitment to further its mission.
Although there are no immediate plans for an IPO, the company is open to exploring public and private investment opportunities to accelerate its growth in addressing oncology challenges