A faith-based chronic care management company based in Murfreesboro and led by state Sen. Shane Reeves, TwelveStone Health Partners, has received $12 million in funding to expand its network of infusion centers in the Southeast.
The growth capital comes from the health care division of Stamford, Connecticut-based Siena Lending Group. Further terms of the transaction were not disclosed.
TwelveStone provides post-acute and chronic health care management, including specialty pharmacy, infusion therapy and nutrition services. The company received $3.35 million from Claritas Capital in 2017 — subsequently appointing two of the firm’s partners to the board — to expand into Chattanooga.
They now have five infusion centers in Mufreesboro, Chattanooga, Knoxville, Mt. Juliet and Canton, Georgia. A location in Spring Hill is scheduled to open in the next month, according to a press release.
“The success of our hub and spoke model, anchored by our infusion centers and the tremendously positive patient feedback has motivated the expansion to new markets caring for patients with chronic, complex and rare disease,” Reeves said in the release. “Siena Healthcare is a tremendous partner, and we are grateful for capital infusion that will support our expansion.”
Quorum, SSM end talks on Missouri hospital transaction
Quorum Health is no longer in talks with St. Louis-based SSM Health to buy a hospital in Missouri, according to a report from the News Tribune.
SSM Health COO Steve Smoot sent a letter to board members on Monday that said the parties mutually agreed to end negotiations, and that SSM now intends to expand services at the St. Mary’s Hospital in Jefferson City.
The leaders of Quorum and SSM signed a letter of intent to explore the acquisition last November, a deal that would mark the Brentwood-based company’s first major move following its Chapter 11 reorganization.