Medical Home Network Announces Transition to a Public Benefit Corporation to Better Support America's Safety-Net Providers
Investment from Oak HC/FT helps MHN expand its mission to help federally-qualified health centers across the nation transition to value-based care
CHICAGO, Jan. 6, 2025 /PRNewswire/ -- Medical Home Network (MHN), an organization dedicated to helping providers in value-based arrangements deliver better care and outcomes, today announced its transition to a public benefit corporation. This move further enhances MHN's ability to support federally qualified health centers (FQHCs) and other safety-net providers in delivering higher quality, more affordable care. The announcement follows a funding round led by Oak HC/FT, reflecting the firm's belief in MHN's approach to partnering with providers and delivering superior outcomes in the communities they serve. The new funding will be used to support investments in existing provider and strategic partnerships, continued development of MHN's model of care and technology to better support its partners, and expansion into new markets.
As a public benefit corporation, MHN will be able to expand its relationships with safety net providers participating in value-based contracts and continue its mission of transforming care in the safety net and building healthier communities. MHNU Corporation (MHNU), the current tax-exempt sponsor of MHN, will also maintain an ownership interest in the new entity and be represented on its Board.
"MHN has always believed FQHCs are vital to our safety net, and this investment and structure will enable us to deepen our partnerships and invest in them to drive care transformation at the practice level," said Cheryl Lulias, President and CEO of MHN.
"MHN is the leading partner helping providers in underserved communities embrace value-based arrangements and deliver high quality patient care," said Andrew Adams, Co-Founder and Managing Partner at Oak HC/FT. "We are proud to provide the resources to help Cheryl and the MHN team continue their mission as a public benefit corporation and serve as a partner in this next phase of growth."
About Medical Home Network
Medical Home Network (MHN) is a public benefit corporation with a mission to transform care in the safety net and build healthier communities. MHN partners with federally qualified health centers throughout the country to help them build the capabilities to be successful value-based care providers. MHN's model of care and approach consistently delivers leading health outcomes, savings, and quality results in value-based care arrangements. In 2024, Modern Healthcare named MHN one of the Best Places to Work in Healthcare for the fourth year in a row. Learn more at medicalhomenetwork.org and follow MHN on LinkedIn.
Advisors: Baird served as the exclusive financial advisor and King & Spalding served as legal advisor to Medical Home Network for this transaction.
About Oak HC/FT
Oak HC/FT is a venture and growth equity firm specializing in investments in fintech and healthcare. Using partnership as a foundation, Oak HC/FT guides companies and founders at every stage, from seed to growth, to create businesses that make a measurable and lasting impact. Founded in 2014, Oak HC/FT has invested in over 85 portfolio companies and has over $5.3 billion in assets under management. Oak HC/FT is headquartered in Stamford, CT, with an office in San Francisco, CA. Follow Oak HC/FT on LinkedIn and X and learn more at https://www.oakhcft.com/.
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SOURCE Medical Home Network