Outcome Health Valued at $5 Billion on Initial Fundraising of $500 Million

Outcome Health, a Chicago-based health-care technology company, said it had raised $500 million in its first round of funding, valuing the company at more than $5 billion.

The unusually large initial funding round — chief executive Rishi Shah joked it was his “seed” round — will let Outcome make its own investments in promising health-care startups that complement its technology. And it will help Outcome expand its network, which gives doctors and patients information they use during office visits to make treatment decisions.