Jan 11, 2024 - Business

Harbor Health raises $95 million for primary care in Texas

Illustration of a person wearing scrubs using a blood pressure cuff made of money.

Illustration: Gabriella Turrisi/Axios

Harbor Health, an Austin, Texas-based primary and specialty clinic group, raised $95.5 million in new venture capital funding led by General Catalyst.

Why it matters: That's a lot of dough for a primary care business operating in one state, even if it quadrupled to eight locations last year, which suggests some synergies with General Catalyst's recent announcement that it will acquire a health system (i.e., hospital).

  • Other investors include Alta Partners, 8VC, Health 2047 Capital Partners, Lemhi Ventures, and Martin Ventures.

The bottom line: General Catalyst must be careful if it does plan to integrate the health system with its primary care portfolio companies, given the Federal Trade Commission's recent crackdown on private equity-backed rollups in the health care sector.

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