NaviHealth, a US-based post-acute care benefit manager, has raised an undisclosed amount from strategic investors BlueCross BlueShield and Ascension Health Alliance’s corporate venturing units.
The $295m BlueCross BlueShield Venture Partners (BCBS Ventures), managed by venture capital firm Sandbox Industries, and Ascension Health Ventures (AHV), which has three venture funds under management, joined healthcare peers Universal American and Select Medical Corporation and VC firm Welsh Carson Anderson and Stowe as principal investors in NaviHealth.
Ryan Schuler, managing director of AHV, whose limited partners include Ascension Health Alliance, Catholic Health East, Catholic Health Initiatives, Decatur Memorial Hospital, Dignity Health, Mercy and Intermountain Healthcare, said: “As health systems are increasingly pressured to drive coordination of care, reduce hospital re-admissions, and move toward a value-based system, NaviHealth’s services will become more in demand.”
Anna Haghgooie, managing director of Sandbox Industries, founded in 2003, added: “NaviHealth’s innovative approach and technology delivers enhanced quality of care and reduces post-acute care costs – benefitting both our plans and members.”