NASHVILLE, Tenn., Feb. 26, 2026 /PRNewswire/ — Honest Health today announced a $140 million capital raise, led by NewSpring Healthcare, a sector-focused strategy of NewSpring dedicated to partnering with innovative healthcare companies. The investment reflects growing demand for Honest Health’s health system-focused approach and its track record of helping organizations execute successfully in value-based payment models.

Honest Health partners with health systems and providers to succeed in value-based, risk models through technology-enabled care coordination, quality improvement, and actionable insights. The raise is supported by K2 HealthVentures and a strong syndicate of Honest Health’s existing investors and institutional partners, including Rubicon Founders, Oak HC/FT, Welsh, Carson, Anderson & Stowe (WCAS), and Durable Capital Partners.

Proceeds from the investment will support continued growth, including expansion into new markets and partnerships with health systems, provider organizations, and payers.

NewSpring Healthcare brings sector-specific knowledge and executive operating experience to help healthcare services companies achieve their vision. The team works closely with founders and CEOs to navigate growth, identify inflection points, and guide critical financial and operational decisions.

“Value-based care continues to reshape the healthcare landscape, creating significant demand for partners that can support execution at scale,” said Mike Kaplan, NewSpring Partner and board member of Honest Health. “Honest Health has demonstrated a strong ability to help health systems navigate this transition, and we see substantial opportunity to expand the company’s reach. With our deep healthcare operating experience, we’re excited to partner with Honest Health to support continued adoption of value-based care and the company’s next phase of growth.”

“Health systems and providers face growing demands to improve outcomes and manage costs, accelerating the need for value-based care models anchored in strong clinical leadership, proven processes, and scalable infrastructure,” said Rob Bessler, M.D., chief executive officer of Honest Health.

Honest Health is led by an experienced management team with deep clinical and operational expertise. CEO Rob Bessler, M.D., is a physician leader and entrepreneur who founded Sound Physicians and built it into a multibillion-dollar organization with significant impact across 42 states. Honest Health was founded in 2021 by Adam Boehler, Abe Sutton, and Matt Kim of Rubicon Founders, a healthcare investment firm. Adam Boehler was the former director of the Center for Medicare and Medicaid Innovation, a role which Abe Sutton currently leads.

“Honest Health was created with the conviction that real transformation in healthcare only happens when providers have the tools, accountability and support to focus on value over volume,” said Matt Kim, partner at Rubicon Founders. “In a short period of time, the company has demonstrated that belief in action, delivering measurable improvements in patient outcomes, strengthening operational performance and building a more sustainable path forward for providers. We’re proud of what the team has built and excited to continue building alongside them and NewSpring as Honest Health enters its next phase of growth.”

Supported by NewSpring Healthcare and participating investors, Honest Health is well positioned to broaden its national footprint and deliver measurable performance in increasingly complex risk environments.

Leerink Partners served as exclusive financial advisor, and Ropes & Gray served as legal counsel to Honest Health in connection with the transaction.

About Honest Health

Honest Health is a physician-led, value-based care enablement organization that partners with health systems and providers to drive improved patient outcomes while reducing costs. Honest supports clinicians by offering actionable insights, operational expertise, and shared accountability in care models that prioritize quality and value. For more information, visit honesthealth.com.

About NewSpring

For more than 25 years, NewSpring Capital has worked alongside founders and management teams in the lower-middle market, providing capital, operational support, and strategic guidance to help businesses scale. With over $3.5 billion in assets under management and more than 250 investments completed, we bring operational experience and investment expertise to build market-leading companies across sectors such as technology, healthcare, business services, consumer, and industrials. Through five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt, we tailor our approach to each company’s stage and goals, always with a focus on sustainable growth. As specialists in the lower-middle market, we support growth that leads to more predictable outcomes. At NewSpring, we are as invested in your outcome as you are. For more information, visit newspringcapital.com.

About Rubicon Founders

Rubicon Founders is an entrepreneurial healthcare investment firm focused on building and growing transformational companies that create enduring value by transforming the way people receive care. Rubicon Founders brings together a core team of investment, operating, and technology professionals who work to put patients and doctors first.

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