Eleanor Health Company Profile

Background

Overview

Eleanor Health is an outpatient addiction treatment provider dedicated to transforming the quality, delivery, and accessibility of substance use disorder (SUD) care. Established in 2019, the company operates across multiple states, offering comprehensive, whole-person care that addresses the physical, mental, and psychosocial aspects of addiction. Their mission is to help individuals with addiction live fulfilling lives by providing evidence-based treatment and support.

Mission and Vision

Eleanor Health's mission is to help people with addiction live an amazing life by transforming the quality, delivery, and accessibility of addiction treatment. Their vision is to provide comprehensive, whole-person care that addresses the unique complexities of individuals and populations with substance use disorders and mental health needs.

Primary Area of Focus

The company focuses on delivering outpatient addiction treatment services, including medication-assisted treatment (MAT), psychiatry, therapy, and peer recovery coaching. Their approach is rooted in a harm-reduction clinical model, aiming to meet individuals where they are in their recovery journey and provide personalized care.

Industry Significance

Eleanor Health plays a pivotal role in the healthcare industry by addressing the growing need for accessible and effective addiction treatment services. Their innovative, value-based care model aligns incentives around reductions in total cost of care and improvements in key quality metrics, setting a new standard for addiction treatment.

Key Strategic Focus

Core Objectives

• Expansion of Services: Eleanor Health aims to broaden its reach by entering new markets and forming strategic partnerships to enhance service delivery.

• Innovation in Care Delivery: The company focuses on developing and implementing innovative care models that improve patient outcomes and reduce healthcare costs.

• Integration of Technology: Leveraging technology to enhance care coordination, patient engagement, and operational efficiency is a key strategic focus.

Specific Areas of Specialization

• Whole-Person Care: Addressing the comprehensive needs of individuals with substance use disorders, including physical health, mental health, and social support.

• Value-Based Care Models: Implementing payment structures that incentivize improved health outcomes and cost reductions.

Key Technologies Utilized

• Telehealth Platforms: Facilitating virtual therapy sessions and remote monitoring to increase accessibility.

• Data Analytics Tools: Utilizing data-driven insights to personalize treatment plans and measure outcomes.

Primary Markets or Conditions Targeted

• Geographic Markets: Services are available in Louisiana, Massachusetts, New Jersey, North Carolina, Ohio, Texas, and Washington.

• Target Conditions: Substance use disorders, including opioid and alcohol use disorders, and co-occurring mental health conditions.

Financials and Funding

Funding History

Eleanor Health has successfully raised a total of $115.1 million across multiple funding rounds:

• Series A (July 2019): $12 million led by Mosaic Health Solutions.

• Venture Round (February 2020): $3.1 million from undisclosed investors.

• Debt Financing (February 2020): Amount undisclosed.

• Series B (May 2021): $20 million led by Warburg Pincus.

• Series C (April 2022): $50 million led by General Catalyst.

• Series D (February 2024): $30 million led by General Catalyst.

Notable Investors

• General Catalyst: A venture capital firm investing in early-stage and growth equity companies.

• Warburg Pincus: A global private equity firm investing in growth companies across various sectors.

• Town Hall Ventures: Focuses on healthcare companies serving vulnerable populations.

• Northpond Ventures: Invests in life sciences, technology, and healthcare sectors.

• Rethink Impact: A venture capital firm investing in tech-forward organizations with female and non-binary leaders.

Intended Utilization of Capital

The funds are allocated towards:

• Scaling Care Models: Expanding the whole-person care model to new regions.

• Technology Development: Enhancing proprietary care delivery and analytics platforms.

• Strategic Partnerships: Forming new risk-based, population health partnerships.

Pipeline Development

Key Pipeline Candidates

Eleanor Health's pipeline includes:

• Expansion into New Markets: Plans to enter additional states, including Texas.

• Partnerships with Payers: Establishing contracts with national and local payers to broaden service reach.

Stages of Clinical Trials or Product Development

The company is in the implementation and scaling phase of its care models, focusing on:

• Service Expansion: Launching new clinics and virtual services in targeted regions.

• Technology Integration: Developing and deploying telehealth platforms and data analytics tools.

Target Conditions

The primary focus remains on:

• Substance Use Disorders: Including opioid and alcohol use disorders.

• Co-occurring Mental Health Conditions: Addressing issues such as depression and anxiety.

Relevant Timelines for Anticipated Milestones

• End of 2022: Manage more than 60,000 members under innovative partnership models.

Technological Platform and Innovation

Proprietary Technologies

• Telehealth Platforms: Enabling virtual therapy sessions and remote monitoring.

• Data Analytics Tools: Personalizing treatment plans and measuring outcomes.

Significant Scientific Methods

• Harm Reduction Model: Focusing on reducing the negative social and physical consequences associated with various human behaviors.

• Value-Based Care Models: Aligning incentives around reductions in total cost of care and improvements in key quality metrics.

Leadership Team

William McKinney – CEO

William McKinney serves as the Chief Executive Officer of Eleanor Health. Prior to joining Eleanor Health, he held leadership positions at Sevita, a provider of health services for individuals with complex needs. Under his leadership, Eleanor Health has focused on scaling its whole-person care model and expanding into new markets.

Nzinga Harrison, MD – Chief Medical Officer

Dr. Nzinga Harrison is the Chief Medical Officer and Co-Founder of Eleanor Health. She is a national physician with expertise in addiction medicine and has been instrumental in designing the company's treatment protocols and care models.

Srishti Mirchandani – VP of Growth Operations

Srishti Mirchandani serves as the Vice President of Growth Operations and Co-Founder of Eleanor Health. She has played a key role in the company's expansion strategies and operational growth.

Leadership Changes

In late 2022, Eleanor Health underwent a leadership transition with the appointment of William McKinney as CEO, succeeding co-founder Corbin Petro. This change was part of the company's strategic efforts to scale its operations and expand its service offerings.

Competitor Profile

Market Insights and Dynamics

The addiction treatment and mental health services market is experiencing significant growth due to increasing awareness and demand for accessible care. The market is characterized by a shift towards value-based care models and the integration of technology to enhance service delivery.

Competitor Analysis

• Cityblock Health: Focuses on providing integrated primary care, behavioral health, and social services to underserved communities through tech-enabled personalized services.

• Spring Health: Offers virtual mental health services, including therapy and coaching, with a focus on personalized care plans.

Strategic Collaborations and Partnerships

Eleanor Health has formed strategic partnerships to enhance its service offerings:

• Spring Health Partnership: In October 2024, Eleanor Health partnered with Spring Health to expand access to substance use disorder treatment for Spring Health's patients.

Operational Insights

Eleanor Health differentiates itself through its whole-person care model, addressing not only substance use disorders but also mental health and social support dimensions in their patient populations.