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Bluestone Physician Services receives strategic investment from Blue Cross Blue Shield companies

Bluestone Physician Services Announces Investment from the Blue Venture Fund


Bluestone Physician Services ("Bluestone" or the "Company"), a portfolio company of WindRose Health Investors, LLC ("WindRose"), announced today that it has received a strategic investment from the Blue Venture Fund ("BVF"), a unique collaboration among Blue Cross and Blue Shield (BCBS) companies, Blue Cross Blue Shield Association (BCBSA), and Sandbox. WindRose and the Bluestone executive leadership team are partnering with BVF as they provide unique insights, strategy, and networks to support companies such as Bluestone that are innovating the delivery of healthcare.

Bluestone provides an integrated care delivery model to more than 22,000 high-risk, chronically ill patients residing in senior living, community, and other home-based settings. The Company deploys its multi-dimensional care model focused on the home through primary care, care coordination, and behavioral health services to complex geriatric and disabled patients in Minnesota, Wisconsin, Florida, and Virginia.

Todd Stivland, MD, Bluestone's Founder and Chief Executive Officer, commented, "We are excited to have the support of BVF as Bluestone continues to innovate care delivery for high-risk patient populations in the residential setting. BVF recognizes the importance of our integrated care model and their deep payor relationships and knowledge of value-based care will be extremely valuable as we scale our business to serve more patients."

Andrew Boyd, Vice President of the Blue Venture Fund added, "We are thrilled to support the Bluestone team as their care model, outcomes, and growth strategy squarely align with our focus areas at BVF and where we add value as a partner. We believe Bluestone is innovating the delivery of care management to an extremely fragile population and is well positioned to succeed as the shift to value-based care continues to accelerate."

About Bluestone Physician Services Established in 2006, Bluestone Physician Services provides on-site care and care coordination services to high-risk, geriatric and disabled patients in senior living, community and home-based settings in Minnesota, Wisconsin, Florida, and Virginia. Bluestone's highly specialized teams deliver focused and comprehensive care to patients where they live. Regularly scheduled visits and close collaboration with patients, families and community staff lead to better care for those with chronic conditions, including dementia. To learn more, visit www.bluestonemd.com.

About the Blue Venture Fund The Blue Venture Fund is a unique collaboration among BCBS companies, BCBSA, and Sandbox to which thirty-five BCBS companies have committed over $890 million across four funds. The Blue Venture Fund invests in promising emerging companies of strategic relevance to Blue Cross and/or Blue Shield companies and provides the portfolio with access to BCBS companies to deploy innovation at scale. Sandbox is an independent company that provides healthcare-related investment management exclusively for the Blue Venture Fund. For more information, visit www.blueventurefund.com.

About WindRose WindRose Health Investors, LLC ("WindRose") makes equity investments in companies that operate within the services sectors of the healthcare industry. The firm focuses on companies with profitable business models and a demonstrated ability to deliver cost-effective solutions. WindRose manages over $1.2 billion in investments and is currently investing out of its fifth fund. WindRose is based in New York City and invests in companies throughout the United States. For more information, please email WindRose at info@windrose.com.

SOURCE WindRose Health Investors, LLC