Lantern, a specialty care platform, has secured $30 million in funding, which will help it expand across employers and health plans, the company announced on Thursday.
Dallas, Texas-based Lantern directs members of health plans and self-insured employers to the top-performing local providers for surgery, cancer treatment, infusion care or other medical needs. It serves more than 1,000 clients in the U.S.
The $30 million raise was led by Morgan Health, a JPMorgan Chase business unit focused on employer-sponsored healthcare, as well as Echo Health Ventures, a strategic investment platform that invests on behalf of multiple Blues health plans.
Morgan Health chose to invest in Lantern because it’s addressing a major contributor of costs for employers.
“Specialty care is a primary driver of health care costs and contributes to the double-digit price escalation that most employers are experiencing. On top of that, consumers are increasingly frustrated with the lack of tools to navigate their conditions and are looking to their employers to ease this burden,” said Dan Mendelson, CEO of Morgan Health, in a statement. “Lantern’s ability to improve outcomes and lower costs supports a healthier, more engaged workforce – and we’re committed to accelerating their impact.”
According to John Zutter, CEO of Lantern, the company is already profitable, so this raise is “opportunistic.” It will be used to reinvest in three areas: technology, go-to-market and partnerships.
“On the technology front, we see a significant opportunity to incorporate emerging technologies into both our operations and our member and provider experiences,” Zutter told MedCity News. “We already have several use cases deployed that are delivering meaningful value across the business. … We are continuing to see exponential growth across employers and we’re deepening relationships with health plans, building on a strong track record of lowering the cost of specialty care while improving outcomes and experiences.”
He added that the company is seeing a shift in how health plans engage with models like Lantern, with 50% of the company’s new sales for 2026 connected to health plan partners, an increase from about 10% last year.
Looking ahead, Lantern is focused on cost containment for clients, advancing its cancer offering and leveraging emerging technologies, Zutter said.
“We remain focused on ensuring the largest number of members in the U.S. have access to affordable specialty care,” he said. “We believe the best way to advance that mission is through continued investment in our product, and through advancing critical partnership relationships with health plans and other channel partners.”
Other specialty care companies include Carrum Health and Transcarent.
Photo: StockFinland, Getty Images
