ConcertoCare plays at the intersection of value-based care and in-home care, aligning the company with two popular health care trends. And that placement fueled its recent $105 million Series B funding.

Why it matters: Despite the investor frenzy behind both trends, it's early days for both and very much TBD which models will stick.

• Wells Fargo Strategic Capital, which led the January round, believes ConcertoCare's approach gives it an edge in maximizing access to home care and navigating that uncertain future.
• ConcertoCare’s model “allows it to be agnostic to who the payer is,” whether that’s MA, Medicare, a CMS value-based care program, or dual-eligibles, Julian Harris, CEO of ConcertoCare, tells Sarah.
• ConcertoCare’s three businesses engage with patients differently but focus on value-based care to older, complex patients and adults with unmet social needs in the home.
• Public companies in these sectors continue to see massive volatility.

Between the lines: While the compression of public market multiples hasn’t fully flushed through the private markets, Robert Rein of WFSC says ConcertoCare’s breadth of offerings is appealing because it puts it in a position to reallocate efforts and resources as needed.

• “We don’t know at this stage of the investment which of the three divisions, if not all three, will resonate most,” adds WFSC managing director Rodney Altman.

The three businesses:

1. ConcertoCare Partners provides additional wrap-around at-home care services for those that have PCPs.
2. In-home Primary Care Provider provides in-home primary care in-person and virtually for those without PCPs.
3. ConcertoPACE (Program of All-Inclusive Care for the Elderly) is an alternative to nursing programs, providing care to individuals that wish to remain in the home.

Catch up fast: ConcertoCare's $105 million Series B round brought its total funding to date to ~$150 million, according to Crunchbase.

• Obvious Ventures, Vast Ventures, The Schusterman Family Foundation, SteelSky Ventures, Pennington Partners, and returning investor Deerfield Management joined WFSC.
• ConcertoCare simultaneously acquired Crown Health, a home-based primary care practice serving the Pacific Northwest.

The bottom line: The home and fee-for-value are dominating the thinking behind which investors are placing their bets, but everyone is taking a slightly different approach. Only time will tell who the winners and losers are.