Participated · Series C · Jan 2022

Transcarent operates a unified health-and-care platform that connects members to Everyday Care, Pharmacy Care, Surgery Care, Weight Health, end-to-end Cancer Care, and behavioral health services. The company emphasizes a mobile-first, personalized experience with an on-demand care team and a connected ecosystem of in-person and virtual care. Transcarent offers at-risk pricing models and transparent impact reporting to align incentives around better outcomes and lower costs. Since January 2022 the company has launched comprehensive Weight Health, Cancer, Behavioral Health and Pharmacy Care experiences and expanded its Surgery Centers of Excellence program. In 2023 Transcarent completed the acquisition and integration of the 98point6 AI-powered virtual care platform and affiliated Transcarent Clinic. It also launched a National Independent Provider Ecosystem with 12 leading health systems. Today more than 4.3 million people have access to Transcarent through their employer or health plan, and the company plans to accelerate its AI capabilities, support commercial growth, and pursue strategic growth opportunities. Transcarent provides a new, different health and care experience that combines software, data science, Health Guides, and live support to give employees of self-insured employers unbiased information, trusted guidance, and access to high-value care. Its platform covers routine and complex needs including urgent care, lower-cost medications, behavioral health evaluations and support, surgeries, at-home care, cancer care, and expert second opinions. Members get 24/7 access to digital and live guidance and direct access to high-value providers; most members receive no bills and are not responsible for co-pays or co-insurance under Transcarent's fully at-risk model. The company pays providers up-front and partners with employers without any up-front or per-employee-per-month (PEPM) fees. Transcarent has pursued growth through acquisitions and partnerships, including the acquisition and integration of BridgeHealth (a surgical and value-based care provider serving over one million members) and a go-to-market selection by Walmart to simplify employer access to Walmart services and low-cost pharmaceuticals. Leadership and investor commentary indicate plans to scale the model nationally and continue building a world-class team. Transcarent is a health and care experience company that provides a personalized, 24/7 consumer-directed platform for employees of self-insured employers and their families. The company connects members with personal Health Guides or physicians and offers expert second opinions, medication review and management, virtual physical therapy, and appropriate site-of-care surgery solutions. It emphasizes unbiased information, trusted guidance, and access to high-value care to reduce friction, complexity, and cost in the healthcare journey. Officially launched in March 2021 and led by CEO Glen Tullman, Transcarent incorporated BridgeHealth’s surgical Center of Excellence capabilities and currently serves over 1 million members through more than 160 centers. Reported operating results include 21% of patients receiving a change/correction in diagnosis, 40% of patients avoiding unnecessary surgeries or procedures, average member connection to a physician in 60 seconds, and surgery solutions delivering 25–50% average net savings per procedure; BridgeHealth’s network reported 80% lower complications and an NPS of 90. The company plans to use new funding to rapidly expand its risk-based offering for self-insured employers.

Participated · Series B · May 2020

Higi makes free-to-use Smart Health Stations deployed in retail pharmacies and grocery stores that let consumers self-measure blood pressure, pulse, weight and BMI. The stations deliver a breadth of digital content focused on condition prevention and management and provide personalized recommendations for nearby health services. The company says more than 10,000 kiosks have been used by 62 million people and are located within five miles of 73% of the U.S. population. Higi has integrated third-party digital health offerings on its stations, including a deal earlier in the year to bring Livongo’s chronic-care program to hundreds of kiosks. The new funding will be used to expand the reach and content offerings of Higi’s kiosks. Higi plans to incorporate Babylon Health’s symptom-checking and remote-care technology into its station experience to broaden access to digital-first healthcare services. higi operates a nationwide network of over 11,000 FDA-cleared self-screening health stations found at pharmacy retailers and community locations, enabling consumers to measure, track and act on biometric data. The platform offers integrations with more than 80 third-party devices and applications and can connect consumer data into population health workflows, including EHRs, for real-time use by care teams. higi reports that its stations are located within five miles of 78% of the U.S. population and that an estimated 47 million people have used higi to conduct over 271 million biometric tests. The company provides consumer-centric, data-driven engagement solutions for providers, payers, retailers and self-insured employers and positions retailers as a new front door to health and wellness. higi plans to use new capital to expand access points, broaden consumer engagement, and deliver deeper data-driven solutions to support prevention, early intervention and value-based outcomes. Financially, the company announced a $21.3 million Series C to accelerate growth and continue building its population health offerings. higi operates the largest FDA-cleared self-screening health station network in the U.S., with nearly 11,000 stations located in food, drug and mass-market retailers. The company links those stations to an online community platform and integrations with over 80 connected health devices, wearables, and apps. To date more than 36 million unique users have used a higi station for nearly 200 million biometric screenings, and over 4.5 million people have signed up for a higi account. higi collects and secures ambient health and lifestyle data with explicit user consent and HIPAA-compliant tools, and provides engagement and workflow integration capabilities to payers, providers, retailers, and brands. The company plans to use recent strategic moves to accelerate the creation of tools to transform population health activities through data collection and workflow integration. higi also acquired EveryMove to extend its consumer health engagement and incentive capabilities. higi operates a retail and omni-channel community health engagement platform centered on a network of health stations, a mobile app and a web portal. The platform is accessible via nearly 10,000 retail locations, web and mobile, and is both FDA cleared and HIPAA compliant. higi offers multiple screening and tracking modalities, incentives and rewards and enables consumers to collect and, when they opt in, share health and activity data with trusted partners. The company partners with more than 40 retail banners and collaborates with healthcare organizations including health plans, hospitals and pharmaceutical companies. higi plans to use the new funding to further innovate its platform and expand services and programs for retail partners and healthcare organizations that support wellness, coordinated care and chronic disease management initiatives. The company is led by CEO Jeff Bennett with William Wrigley, Jr. as Chairman.

Participated · Equity · Oct 2019

AVIA is a Chicago-based partner for digital health insights, strategic guidance, and consulting services that helps health systems navigate healthcare digitization. Members of the AVIA Innovator Network access market intelligence, collaborative initiatives, and consulting to accelerate digital transformation. The company supports clients with digital roadmaps, board- and executive-level strategy work, and the AVIA Connect platform to link participants. AVIA focuses on building next-generation digital front doors, virtual health, Medicaid transformation, automation to unlock workforce capacity, and addressing consumerism, population health, and risk-based arrangements. It serves more than 50 healthcare organizations nationwide and counts 12 member-owner health systems. AVIA recently raised $22 million to expand its services, topical coverage, and markets. AVIA is a consulting firm that connects large hospital systems with startups to accelerate adoption of new technologies and address strategic business issues. The company screens potential partners and builds road maps to shorten procurement and contracting timelines. AVIA has grown its membership to 22 health systems whose networks operate more than 350 hospitals. In two-and-a-half years AVIA expanded headcount from 10 to 36 employees and plans to double headcount in the next year. Financially, AVIA raised a $7.2 million Series C in 2016 and had previously raised $6 million two years earlier. The firm is based in Chicago and sells strategic advisory services to its hospital members.