Diana Health Raises $55 Million Series C to Transform Women's Health in Partnership with Hospitals and Appoints Dr. Neel Shah to its Board of Directors

HealthQuest Capital leads the round as the modern women's health network expands to nine locations, including its new sites in Chattanooga, Tenn., and Jacksonville, Fla.

NEW YORK, Sept. 11, 2025 /PRNewswire/ -- Diana Health, which works with hospitals to create category-defining women's health programs rooted in collaboration and whole-person care, today announced a $55 million Series C led by HealthQuest Capital and joined by previous investors Norwest Venture Partners, .406 Ventures, LRVHealth and AlleyCorp. The financing will enable Diana Health to scale its physical footprint, deepen its integrated clinical programming and enhance its digital platform. These elements work together to deliver safer births, stronger postpartum care, and a more connected experience for women and families across the lifespan. 

As part of the round, Diana Health is thrilled to welcome Witney McKiernan, principal at HealthQuest Capital, and Dr. Neel Shah, MD, MPP, FACOG, a physician and health innovator widely known for his leadership in women's health including as chief medical officer of Maven Clinic, to its Board of Directors.

Diana Health operates nine locations in Tennessee, Florida and Texas, including a new Jacksonville, Fla., site opening in November. The company pairs Certified Nurse‑Midwives (CNMs) with OB-GYNs and mental health and wellness professionals, allowing providers to spend more time with families, catch issues early and reserve complex medical interventions for when they are truly needed. Diana Health's approach is based on the midwifery model of care and uses purpose-built technology and clear, consistent practices to improve clinical outcomes, enhance patients' experiences and strengthen hospital performance.

"We know that women achieve better outcomes—and get the experience they want—when care is holistic and centered on their voices," said Kate Condliffe, Diana Health co-founder and CEO. "This is also the way most clinicians want to practice. By partnering with Diana Health, health systems are redesigning their models and teams around these values, creating programs that are built to last and earning patient trust through higher-quality care."

Addressing an Urgent Maternal Health Crisis

The U.S. is facing a maternal health crisis, with mortality rates double those of other developed countries despite spending $111 billion on maternity care annually. Complicating matters is access to labor and delivery (L&D) services, as more than 500 hospitals—both rural and urban—have closed their L&D units over the past decade, and a growing shortage of obstetricians and gynecologists is expected to reach 22,000 by 2050. Providers also face a challenging reimbursement landscape and a patient population seeking individualized care that many practices are often not set up to support.

Diana Health's mission is to combat these pressures, offering its obstetrical patients longer appointment times, proactive birth planning and robust whole-health support during pregnancy and beyond—including nutritional counseling, classes, and mental health services. Diana Health currently cares for over 80,000 women on an annualized basis with services available across the lifespan, including sexual health, pre-conception and pregnancy, gynecological conditions like PCOS and endometriosis, wellness and nutrition, and (peri-)menopause. With this new funding, Diana Health will continue to expand its service offering.

"When midwives are at the center of care, families are healthier and communities thrive," said Dr. Shah. "As a physician, I've seen how this approach not only improves safety and outcomes, but also strengthens the trust that patients place in their local hospitals. Diana Health is showing that by elevating the midwifery model, health systems can deliver care that is evidence-driven, deeply relational, and aligned with what women truly want and need."

By engaging with Diana Health's services, families describe feeling known and informed, and hospital partners are seeing fewer unnecessary procedures and a steadier, sustainable service close to home.

"Diana Health combines compassionate, team-based care with operating discipline," said HealthQuest Capital's McKiernan. "They are delivering fundamental services leading to fewer unnecessary interventions, strong patient satisfaction and programs that can sustain themselves for community hospitals. That balance of quality and durability is why we are investing in the next stage of growth."

A Proven Blueprint for Strengthening OB-GYN Services and Restoring Patient Loyalty 

Diana Health helps health systems address the numerous challenges they face by co-designing and operating women's programs with hospitals, either within existing labor and delivery units or reopening previously closed OB-GYN clinics. The company builds and supports care teams, delivers the clinical program, and drives patient and provider loyalty through better experiences and outcomes.

Diana Health's model features:

• Team-based care with CNMs working alongside OB-GYNs and integrated mental health and wellness services
• Evidence-based protocols that reserve interventions for when they are needed and a care program that focuses on a woman's whole health
• Practical digital tools for education, virtual visits and care planning
• A focus on quality aligned with national priorities, including reducing unnecessary C-sections, strengthening maternal safety and improving the patient experience

To learn more about partnering with Diana Health, visit heydianahealth.com/hospital-partners/ or contact [email protected].

About Diana Health

Diana Health is a network of modern women's health practices working in partnership with hospitals to reimagine the way maternity and women's healthcare is delivered. With personalized, wellness‑focused care programs, Diana Health puts women at the center of decision‑making and empowers them with the information and support they need to achieve their health and wellness goals.

Diana Health goes beyond the traditional approach to healthcare through smart technology, collaborative teams, and a thoughtfully designed experience that is beneficial for both women and clinicians. The company has raised $101 million in capital and is backed by leading investors including HealthQuest Capital, Norwest Venture Partners, .406 Ventures, LRVHealth and AlleyCorp. For more information, visit heydianahealth.com.

About HealthQuest Capital

HealthQuest Capital is a private asset firm that provides capital to transformative healthcare companies. HealthQuest Capital focuses on commercial prospects that drive enhanced patient outcomes and elevate the efficiency of healthcare delivery. With approximately $2 billion in capital under management, the firm focuses on fostering innovation across the healthcare spectrum, including medical technologies, diagnostics, digital health, and innovative services. The HealthQuest Capital team combines decades of investing experience with domain expertise in the various aspects of the healthcare industry. For more information, visit www.healthquestcapital.com.

SOURCE Diana Health