Wayspring Receives Minority Investment From CVS Health Ventures

Wayspring, a Nashville, TN-based value-based care company focused on substance use disorder (SUD) populations, announced a capital raise led by CVS Health Ventures.

The amount of the deal was not disclosed.

Existing investors including Valtruis (portfolio company of Welsh, Carson, Anderson & Stowe), HLM Venture Partners, and .406 Ventures all participated in the funding round.

The company intends to use the funds to expand the reach of the SUD Home program within current states and into select new markets.

Led by Carter Paine, CEO, Wayspring is a value-based healthcare organization that provides medical, behavioral health, and social support services to people with complex needs. With a focus on people living with substance use disorder, it utilizes a comprehensive and longitudinal model that incorporates targeted member outreach, strategic provider partnerships, community-based peer support, and delivery of clinical services. Through this approach, the company produces increased adherence to evidence-based medicine, decreased healthcare waste, and improved health outcomes.