Groups Recovery Together Raises $60 in Series C Funding

Groups Recover Together, a provider of medication-assisted treatment for opioid addiction with a portfolio of clinics that operate in 12 states, announced on Wednesday that it has raised $60 million in Series C financing, with venture growth-equity fund Oak HC/FT joining the company’s existing roster of investors.

The funds raised will be used to expand Groups’ network to 17 states by the end of the year and bolster its telehealth infrastructure to complement its brick-and-mortar operations. Groups went fully virtual in providing care during the pandemic and plans to maintain telehealth-based options for patients moving forward, the company said in a release. To support the continued build-out of its virtual operations, Groups announced that it has named Amar Kendale, chief product officer at Teladoc Health, to its board of directors.

Groups also noted in the news release that the company now serves more than 8,000 members nationally, an increase of 45% year-over-year.

“Groups has been incredibly innovative when it comes to supporting their members during this time of increased need, impressively adapting to challenging circumstances,” Nancy Brown, general partner at Oak HC/FT, said in a statement. “Further, their strong commitment to value-based care has allowed Groups to drive better outcomes for traditionally underserved populations where OUD prevalence is highest. We look forward to helping them expand access to this highly effective treatment model and in doing so, save more lives.”