From left: Thyme Care Co-founder and Chief Medical Officer Bobby Green, Thyme Companies Executive Chairman Robin Shah, and Thyme Care CEO Brad Diephuis.
Courtesy: Thyme Care
Despite significant strides in oncology, the field dedicated to cancer’s study, prevention, diagnosis, and treatment, it remains one of the most complex and emotionally taxing medical journeys for patients. Addressing this critical gap, Thyme Care, a virtual navigation platform for cancer patients launched in 2020, has established itself as a key player in improving the fragmented landscape of cancer care. Its dedication to this mission has earned it the No. 18 spot on the 2026 CNBC Disruptor 50 list.
In a significant move to further its expansion and impact, Thyme Care has successfully closed a Series E funding round, securing $125 million at a valuation exceeding $2 billion. The round was spearheaded by Morgan Health, with substantial contributions from strategic healthcare investors Humana and CVS Health Ventures. This substantial influx of capital, which roughly doubles the company’s valuation from its Series D round less than a year ago, underscores strong investor confidence in Thyme Care’s model. Additional backing came from prominent firms including AlleyCorp, HealthQuest Capital, and a16z Bio + Health.
This new capital infusion is enabling Thyme Care to evolve into a new parent company, Thyme Companies. This strategic restructuring aims to foster the development of additional ventures specifically designed to tackle the persistent disconnections in how cancer care is delivered, accessed, and financed.
Robin Shah, a co-founder of Thyme Care alongside Bobby Green, will transition to serve as the Executive Chairman of the new parent entity, Thyme Companies. Shah indicated that the current market conditions and the company’s growth trajectory made this an opportune moment to embark on this ambitious expansion.
“When Bobby and I first envisioned this venture six years ago, our core objective was to address the pervasive ‘white spaces’ – the overlooked aspects of oncology care,” Shah explained. “We aimed to improve the ‘care in between,’ focusing on the critical needs and questions that arise for patients outside of their scheduled medical appointments.”
Thyme Care has demonstrably grown into this vital role. The company’s comprehensive services are now accessible to over 10.5 million individuals across all 50 U.S. states. Furthermore, Thyme Care actively manages an impressive $7 billion in oncology spend, with its revenue surging past $125 million last year, marking a fivefold increase from the preceding year. This rapid growth highlights the increasing demand for its patient-centric solutions.
In July, Robin Shah transitioned from his role as CEO of Thyme Care to Brad Diephuis, who previously held the positions of President and Chief Operating Officer. Shah expressed his confidence in Diephuis’s leadership, citing him as a pivotal force behind Thyme Care’s business success. This executive shift allows Shah to dedicate his focus to Thyme Companies, serving as a platform for incubating new initiatives and establishing independent companies aimed at solving complex oncology challenges.
Under the new corporate umbrella, one of Thyme Companies’ immediate priorities will be to address the critical issue of cancer drug affordability. The company plans to accelerate the adoption of biosimilars – clinically equivalent alternatives to originator biologic drugs, akin to generics for small-molecule drugs. Shah noted that the anticipated cost savings from cancer-focused biosimilars have not yet fully materialized for patients. Thyme Companies will engage collaboratively with health plans and providers to identify and implement significant cost-reduction strategies.
Another key area of focus for Thyme Companies will be enhancing access to and navigation within the clinical trial ecosystem. Shah highlighted that current enrollment challenges are not only limiting patient access to potentially life-saving experimental treatments but also impeding the pace of drug development. The company aims to streamline this process, thereby benefiting both patients and the pharmaceutical industry.
The initial launch of these new ventures under Thyme Companies is anticipated later this year, signaling a proactive approach to expanding its impact beyond its core navigation services.
Shah also shared that Thyme Care has achieved profitability and is generating positive free cash flow. “This strong financial footing provides us with a robust balance sheet to pursue strategic investments that were not feasible even three years ago,” he stated.
Looking ahead, Shah indicated that acquisitions of complementary businesses that can further bolster efforts to solve oncology challenges, as well as the recruitment of top-tier talent, are both on the table. This flexible approach underscores the company’s commitment to rapid innovation and problem-solving.
While Shah maintained that there is no “near-term viewpoint” on an Initial Public Offering (IPO), he emphasized the company’s continuous evaluation of public and private investment opportunities. “Our objective is to move with greater agility,” Shah commented. “We believe this is a problem that impacts individuals across the nation, and indeed, globally.”
“We are cultivating a team dedicated to a long-term commitment to solving complex healthcare problems with an intense focus on oncology,” Shah concluded.
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