Health services provider Cambia Health and corporate venturing unit Mosaic Health Solutions combined yesterday to launch a US-based strategic investment vehicle called Echo Health Ventures.
Echo Health will operate nationwide, from offices in North Carolina, Oregon and Washington State, investing across all stages of the healthcare ecosystem as well as managing the portfolios of its parent companies.
Where appropriate, the firm will also nurture strategic distribution partnerships among its portfolio companies. Mosaic is the investment arm of US-based health insurance provider Blue Cross and Blue Shield of North Carolina.
Rob Coppedge, who has more than 20 years of experience in healthcare venture funding and served as president of Cambia’s strategic investment division, has been named chief executive of Echo Health.
Coppedge said: “The next great healthcare companies will personalise healthcare, reduce costs and focus on the consumer – not the enterprise.
“By leveraging the strength of Cambia and Mosaic, we are able to bring significant value to our portfolio companies. Whether they are early stage startups or well-established growth companies, Echo will uniquely support getting their innovations to scale faster and more successfully across the multi-trillion dollar health care market.”
Mark Ganz, president and chief executive of Cambia, and Brad Wilson, president and chief executive of Blue Cross and Blue Shield of North Carolina, have also joined Echo’s board of directors.