Cityblock Health to Acquire Homeward Health and Raised $116 Million to Expand into Rural Care

Ropes & Gray advised Cityblock Health in a definitive agreement to acquire Homeward Health in an all-stock transaction to expand its value-based, technology-enabled care model into rural US healthcare markets. The combined organization will serve nearly 250,000 people and target government-funded healthcare populations across urban and rural communities. The transaction was announced on August 20 and financial terms were not disclosed.

Along with the deal, Cityblock announced a $116 million Series E funding round led by General Catalyst.

The acquisition will combine Cityblock’s AI-powered data and care-orchestration platform with Homeward’s rural provider network and care delivery model. The combined capabilities will support expansion across Medicaid, dual-eligible and rural Medicare Advantage populations.

The Ropes & Gray team was led by health care partner Drew Clary and included health care partner Brett Friedman, health care counsel Lauren Biggs, health care associates Sharon Mavares, Emma Coreno and David Quattrochio, and employment, executive compensation & benefits associate Patrick Maher.