Pediatric care startup Bluebird Kids Health raised a $31.5 million Series A, as it prepares to open more clinics later this year, CEO Chris Johnson tells Axios exclusively.
Why it matters: In the U.S., 1 in 10 children do not have a primary care doctor.
Zoom in: F-Prime and .406 Ventures co-led the fundraise, which represents the company's first outside capital.
- Boston-based Bluebird Kids works primarily with Medicaid populations, providing physical, mental and social care.
By the numbers: Bluebird Kids has three clinics in Florida, serving more than 20,000 pediatric patients, Johnson says.
- The company is generating between $10 million and $20 million in revenue.
What's next: Bluebird Kids plans to open more clinics this year in Jacksonville and Broward County, Florida.
- "Longer-term, we will look at our other states that have really great demographic trends, in places like Texas, Georgia and the Carolinas," he says.
- Johnson says the company can "probably can get to sustainability and profitability" on this round of fundraising.
- Future fundraising will partly depend on how quickly Bluebird Kids is looking to scale, he adds
Zoom out: From 2008 to 2022, U.S. hospitals closed nearly 30% of pediatric inpatient units, compared with only 4.4% of adult inpatient units.
- There is a very large underserved opportunity to bring value-based care to pediatrics and really address the lack of access to high-quality pediatric care," says Brett Cook, partner at F-Prime.
- Nearly half (47.4%) of total Medicaid and CHIP program enrollees are children.
Reality check: The fate of the Medicaid program is cloudy, as U.S. House Republicans weigh far-reaching changes to cover tax cuts in a reconciliation package.
Yes, but: Key GOP players and President Trump himself this week made new promises not to make deep Medicaid cuts.
%201.png)
