June 28, 2024
Dear members of the healthcare community,
The Board of Directors and the leadership team of Hopscotch Primary Care (“Hopscotch” or the “Company”) celebrate several key milestones this month. Hopscotch continues to execute on its mission to transform healthcare in rural communities through exceptional primary care. The Company now serves over 15,000 people across 10 clinics in our initial market of Western NC. Since its founding in 2021, the Hopscotch team of primary care providers has been the backbone of our success. We have executed a number of partnerships with national payers to drive long-term value creation.
New Capital
We are excited to announce the Company has closed a $50 million Series C raise, welcoming new investors aMoon Fund, Citi Impact Fund and Alumni Ventures with participation from existing investors 8VC, CVS Health Ventures, K2 HealthVentures and Town Hall Ventures. “At aMoon, our investments are driven by our mission to accelerate cure and help people live longer, happier lives. To that end, we are excited to support Hopscotch in their efforts to provide better access to care in underserved, rural communities,” said Dr. Yair Schindel, Managing Partner at aMoon Fund, of their participation in the round. Dr. Schindel will join Hopscotch’s Board of Directors and bring unique skills and experience working alongside seasoned value-based care investors and operators with firsthand experience building and scaling best-in-class healthcare companies, including Oak Street Health, The Aspen Group and Oxeon.
Leadership Transition
We are deeply grateful for Kristin Myers’ leadership as Chief Executive Officer. Her passion for rural health and advancing new care models that create better provider and patient relationships has been core to her leadership. After three years as the founding CEO, she has made the decision to step down. She will remain in an advisory role to the company. With her transition, Andrew James will continue in his role as Chief Financial Officer and lead the Company on an interim basis as we evaluate candidates for Kristin’s successor. Dr. Rath Chau, the Company’s Chief Medical Officer, continues to leverage his prior Oak Street experience and deliver clinical excellence across all clinics.
Hopscotch also welcomes new leadership to the team – David Thurlow as Chief Operating Officer and Dave Miller as Market President. They both bring a wealth of experience in value-based care and operational excellence at companies of scale. Their combined experiences at Community Medical Services, Enlivant, DaVita Kidney Care, ChenMed, Panoramic Health, Bain & Company and the US Navy position Hopscotch well for this next phase of growth.
The Opportunity Ahead
With fresh capital and a growing team, we are expanding access to high-quality care in rural communities where the population is vast (35% of U.S. residents living outside large metros) and severely underserved with poor outcomes (25% more likely to die from five leading causes of death than urban counterparts).
Hopscotch already is delivering a differentiated patient experience and quality outcomes, with an average 88 Net Promoter Score and 4.5 Star rating across initial clinics in their first year.
While we are proud of our success to date, our greatest potential and impact lies ahead. These significant milestones are just the beginning for the next phase of growth and opportunity ahead.
Thank you to the entire Hopscotch Primary Care team, past and current, for your passion, dedication and commitment to the amazing care you deliver to patients every day.
Sincerely,
Hopscotch Board of Directors and Leadership