Binoy Bhansali, former managing director at Sandbox Industries, provider of fund management services for more than 30 Blue Cross Blue Shield health insurers, has joined US-based healthcare provider Scan Group.
Scan provides healthcare for patients on Medicare Advantage health insurance plans. As vice-president of corporate development, Bhansali will be responsible for identifying opportunities for strategic partnerships, external investments and acquisitions.
Sandbox Industries manages $1.2bn across four funds Blue Cross Blue Shield, and Bhansali sourced more than 1,000 healthcare technology and services companies from seed to growth equity-stage, led diligence efforts for hundreds of them and completed investments in eight companies.
Bhansali was a board observer or director at Insightin, Quilted Health, Ideal Option, Healthify, Prove, ExactCare Pharmacy and SwipeSense in a stint at Sandbox stretching across nearly six years.
Sachin Jain, president and CEO of Scan Group, said: “Binoy has a proven track record of finding and investing in companies that align with our areas of strategic focus, including social determinants of health, telehealth, primary care and pharmacy.
“His expertise will enable us to expand our efforts to support healthy ageing by lowering the cost of care while improving quality of life and health outcomes among the populations we serve.”
Photo of Binoy Bhansali courtesy of LinkedIn.
