Echo Health Ventures, the US-based corporate venturing vehicle backed by healthcare provider Cambia Health Solutions, has launched an investment collaboration with health insurance provider Arkansas Blue Cross Blue Shield.
The initiative, dubbed Echo Innovation Alliance, will involve Echo Health and Arkansas Blue Cross Blue Shield’s USAble Corporation subsidiary partnering on investments in developers of transformative healthcare technology, services and digital health products.
Echo Health Ventures was founded in 2016 to combine corporate venturing activity for Cambia and Mosiac Health Solutions, an investment firm managed by health insurer Blue Cross and Blue Shield of North Carolina Foundation.
USable focuses on deal-making to drive the creation of ancillary insurance products for its parent organisations in addition to better technology for its healthcare provider ecosystem, including electronic data exchange and clearing-house platforms.
Rob Coppedge, CEO of Echo Health Ventures, said: “At a time like this, when the need for innovation in healthcare is so urgent, we are excited to launch the Echo Innovation Alliance, a new model of highly strategic venture investment, in collaboration with such respected, progressive healthcare leaders.
“The Echo Innovation Alliance further validates Echo’s unique model and will accelerate our work with leading entrepreneurs and management teams to scale their innovations nationally.”