CVS Health Ventures Leads $25M Investment in Knownwell's Obesity Care Model

Knownwell, a weight-inclusive primary care and metabolic health company, has secured $25 million in a funding round led by CVS Health Ventures. The investment aims to scale the company's comprehensive obesity care model, which combines in-person and virtual services across multiple states.

Expansion and Outcomes

Over the past 18 months, Knownwell has expanded its hybrid care offering from Massachusetts to Georgia, Illinois, and Texas, while also launching virtual care for patients in all 50 states. The company reports impressive outcomes, including a 90+ net promoter score, 91% one-year patient retention, and 93% one-year sustained weight loss.

Brooke Boyarsky Pratt, Knownwell's co-founder and CEO, stated, "We spent the last 18 months proving that demand for knownwell's unique services exists across the country and our best-in-class outcomes can hold steady, or even improve, as we significantly grow our patient population."

Innovative Approach to Obesity Care

Knownwell's model goes beyond traditional weight management or GLP-1 prescriptions, offering a comprehensive approach that includes nutrition counseling and behavioral health services. The company's care model, designed by Dr. Angela Fitch, co-founder and chief medical officer, aims to address the complex needs of patients living with obesity.

Alyssa Reisner, partner and executive director at CVS Health Ventures, emphasized the potential impact of Knownwell's approach: "The ability to deliver comprehensive and longitudinal care at scale is exactly what payers and health systems need to address one of the most pressing drivers of high costs and poor outcomes in healthcare today."

Strategic Partnerships and Future Plans

Knownwell has attracted notable partnerships and investors in the healthcare industry. The company was recently added as a care provider option through Eli Lilly's LillyDirect channel to prescribe medications. Additionally, Geoff Price, co-founder of Oak Street Health, has joined as an investor and independent board member.

With the new funding, Knownwell plans to expand its multidisciplinary care team, add additional physical clinics, enhance its AI and broader technology, and expand its clinical trials. Boyarsky Pratt noted, "With the pace of innovation in obesity medicine accelerating rapidly, knownwell is positioned at the forefront with this new funding, setting the standard for what comprehensive, evidence-based metabolic care can and should be."