Key Takeaways
- • Thyme Care closed a $125 million Series E funding round led by Morgan Health, valuing the Nashville-based oncology care company at over $2 billion, with participation from major payers including Humana and CVS Health Ventures.
- • The company established Thyme Companies, a new parent entity designed to build a portfolio of independent oncology businesses focused on accelerating biosimilar adoption and increasing clinical trial enrollment, with the first business launching later in 2026.
- • Thyme Care's services reach 10.5 million people across all 50 states, providing cancer patients with care navigation, clinical support, and access to provider networks while partnering with health plans, employers, and risk-bearing providers to reduce costs.
- • Leadership restructuring positions Co-Founder Robin Shah as executive chairman of Thyme Companies overseeing strategy and new business development, while CEO Dr. Brad Diephuis and Co-Founder Dr. Bobby Green continue leading Thyme Care's core operations.
- • The funding will scale Thyme Care's value-based care business—which is already profitable and growing—while supporting expansion into additional segments of the oncology patient journey beyond current service offerings.
Summary
Thyme Care, a Nashville-based oncology care company founded in 2020, announced the completion of a $125 million Series E financing round that values the company at over $2 billion. The round was led by Morgan Health and included participation from a consortium of prominent healthcare investors: Humana, CVS Health Ventures, AlleyCorp, HealthQuest Capital, Foresite Capital, Concord Health Partners, Frist Cressey Ventures, Town Hall Ventures, and a16z Bio + Health. The capital infusion reflects investor confidence in Thyme Care's model of partnering with health plans, employers, and risk-bearing providers to deliver integrated cancer care services.
Thyme Care operates a platform offering care navigation services, technology-enabled data insights, and therapeutic interventions for cancer patients. The company provides patients with guidance on diagnosis understanding, oncologist selection, and clinical care coordination between appointments, while delivering access to coordinated teams of providers, nurses, and resource specialists. Currently, Thyme Care's services are available to 10.5 million people across all 50 states, positioning it as a significant player in the value-based oncology space.
Concurrent with the Series E close, Thyme Care announced the creation of Thyme Companies, a new parent holding company structured to build a portfolio of independent oncology businesses. This portfolio strategy targets two primary objectives: accelerating the adoption of lower-cost biosimilar therapies and expanding clinical trial enrollment. The first business under the Thyme Companies umbrella is expected to launch before year-end 2026. To lead this expansion, Co-Founder Robin Shah will assume the role of executive chairman of Thyme Companies, focusing on strategy and new business development, while Dr. Brad Diephuis continues as CEO of Thyme Care and Co-Founder Dr. Bobby Green remains president and chief medical officer.
According to Dr. Diephuis, the Series E capital will simultaneously scale Thyme Care's existing value-based care business—already profitable and growing—while funding expansion into adjacent segments of the oncology care continuum. He emphasized that the company's immediate priorities include delivering sustained value to current members and partners while accelerating market penetration in the commercial insurance segment. Morgan Health's CEO Dan Mendelson noted in a statement that the investment reflects confidence in Thyme Care's ability to improve cancer outcomes while reducing costs for patients and payers, positioning the company within a competitive landscape that includes other cancer care support providers such as OncoveryCare and Maia Oncology.
Thyme Care operates a platform offering care navigation services, technology-enabled data insights, and therapeutic interventions for cancer patients. The company provides patients with guidance on diagnosis understanding, oncologist selection, and clinical care coordination between appointments, while delivering access to coordinated teams of providers, nurses, and resource specialists. Currently, Thyme Care's services are available to 10.5 million people across all 50 states, positioning it as a significant player in the value-based oncology space.
Concurrent with the Series E close, Thyme Care announced the creation of Thyme Companies, a new parent holding company structured to build a portfolio of independent oncology businesses. This portfolio strategy targets two primary objectives: accelerating the adoption of lower-cost biosimilar therapies and expanding clinical trial enrollment. The first business under the Thyme Companies umbrella is expected to launch before year-end 2026. To lead this expansion, Co-Founder Robin Shah will assume the role of executive chairman of Thyme Companies, focusing on strategy and new business development, while Dr. Brad Diephuis continues as CEO of Thyme Care and Co-Founder Dr. Bobby Green remains president and chief medical officer.
According to Dr. Diephuis, the Series E capital will simultaneously scale Thyme Care's existing value-based care business—already profitable and growing—while funding expansion into adjacent segments of the oncology care continuum. He emphasized that the company's immediate priorities include delivering sustained value to current members and partners while accelerating market penetration in the commercial insurance segment. Morgan Health's CEO Dan Mendelson noted in a statement that the investment reflects confidence in Thyme Care's ability to improve cancer outcomes while reducing costs for patients and payers, positioning the company within a competitive landscape that includes other cancer care support providers such as OncoveryCare and Maia Oncology.
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