Thyme Care, a nationally recognized oncology company, has secured over $125 million in Series E financing to expand its value-based cancer care model and launch new ventures. Morgan Health led the round with participation from Humana, CVS Health Ventures, and a range of institutional investors. The investment highlights growing confidence in Thyme Care's ability to improve patient outcomes while reducing the overall cost of cancer treatment.
Investor Coalition Reflects Broad Industry Support
The financing brings together strategic partners from across the cancer care ecosystem, including national payers, community oncology groups, health systems, and employer-sponsored health leaders. Participating investors include AlleyCorp, HealthQuest Capital, Foresite Capital, Concord Health Partners, Frist Cressey Ventures, Town Hall Ventures, and a16z Bio + Health. Their combined support signals favorable outlook on Thyme Care's care model and its capacity to address broader challenges in oncology.
Executive Confidence in Value-Based Cancer Care
Dan Mendelson, chief executive officer of Morgan Health, said people living with cancer have traditionally been left to coordinate care themselves and often pay more along the way. He noted that Thyme Care is changing that experience by improving cancer care while lowering costs. Mendelson added that Morgan Health continues to invest in the company because of its ability to deliver value to patients and payers.
National Scale and Measurable Cost Reductions
Thyme Care services now reach more than 10.5 million people across all 50 states, and the company manages over $7 billion in oncology spend. Its patient-centered model delivers validated reductions in total cost of care of between 5 and 10 percent. The company is profitable and generates meaningful positive free cash flow, supported by strong financial discipline.
Thyme Companies to Target Persistent Oncology Barriers
Alongside the Series E round, Thyme Care is establishing Thyme Companies, a newly formed parent entity designed to build a portfolio of independent oncology businesses. These businesses will focus on persistent barriers to better cancer care, with active development areas including accelerated adoption of lower-cost biosimilars and improved clinical trial accrual. The first of these new businesses is expected to launch later this year.
Biosimilars and Clinical Trial Access
Among the first areas of focus for Thyme Companies is accelerating the adoption of lower-cost biosimilars, which can reduce treatment expenses without compromising quality. Another priority is improving clinical trial accrual, where slow enrollment limits patient access to beneficial therapies and delays drug development. These initiatives are grounded in data, enabled by technology, and built on trusted partnerships.
Leadership Team Positioned for Expansion
Co-founder Robin Shah will serve as executive chairman of Thyme Companies, leading strategy and development of new businesses while working closely with co-founder Bobby Green, M.D. Thyme Care will continue under CEO Brad Diephuis, M.D., with Dr. Green as president and chief medical officer. The company remains the anchor of the Thyme Companies family, with its name, partnerships, and member experience unchanged.
Vision for a Broader Oncology System
Shah said the founding vision was never limited to one part of cancer care but aimed to create a better oncology care system. He noted that Thyme Care demonstrated the model could work, and growth alongside patients, providers, and health plans revealed deeper challenges. Thyme Companies represents the next step by building new solutions informed by these insights while continuing to invest in the core business.
The Series E funding and the formation of Thyme Companies position the organization to deepen its impact across oncology. With strategic investors, national scale, and a profitable operating foundation, Thyme Care is poised to accelerate its next phase of growth. The expansion reflects a broader effort to make cancer care more accessible, coordinated, and affordable for patients nationwide.