Kate Farms, the supplier of a plant-based liquid meal formula used by hospitals and healthcare providers around the country as a nutritional supplement for patients who cannot process solid foods, has raised $23 million in a round of funding. The new money will allow the company to ramp up its production as it looks to meet significant new demand from both consumers and healthcare providers, according to chairman and chief executive, Brett Matthews. Founded by Richard and Michelle Laver, who initially developed the formula for their daughter, Kate, a child whose cerebral palsy meant that she couldn’t eat solid foods or process the tube-feeding formulas available on the market, Kate Farms has grown into a business that serves hospitals around the country. Matthews, whose son suffered from upper respiratory and autoimmune issues, was first introduced to the company as a customer.
With $23 Million For Its Plant-based, Liquid Meals, Kate Farms Pushes Into Consumer And Healthcare
Jonathan Shieber, TechCrunch
Thu, 04/09/2020 - 9:39am
Topics: founded richard michelle laver david roux silver lake john hammergren mckesson gregg engles kristin loomis lazard hhv-6 foundation pete nicholas boston scientific robert zollars president baxter international diamond foods evp cardinal health celeste clark kellogg s global wheels southern santa barbara american society parenteral atlanta gastroenterology associates we but kate farms ubs investments our kate kate farms matthews kate foods nutrition calif enteral u.s million meals consumer plant-based liquid company executive billion chief chairman market improve country solid providers investors process money raised production replacements meet ramp formula dairy founder hospitals people roughly products medical demand including expected capital
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