“In November 2019, we celebrated the third anniversary of our founding, and with that milestone, continue to see the meaningful impact our portfolio companies are having on healthcare transformation,” Echo Health Ventures chief executive Rob Coppedge, told Global Corporate Venturing.
The unit was formed in November 2016 through the merger between health services provider Cambia Health and Mosaic Health Solutions, health insurance provider Blue Cross and Blue Shield of North Carolina (BCNC)’s corporate venturing arm.
“In the first half of 2019, Echo invested in five new companies, with solutions ranging from coordinated care management and population health to precision health and telegenomics,” Coppedge said, referring to Strive Health, Aledade, Cityblock Health, Dispatch Health and Genome Medical.
“In December, we announced two new investments, Eleanor Health and Quartet Health, each completed in the second half of 2019. Each of these companies is focused on improving access to, and the quality of, behavioural healthcare for those in need.”
The unit has also been deepened strategic relationships between its portfolio and both parent firms. Coppedge mentioned addiction recovery support platform Eleanor Health and behavioural health technology provider Quartet Health as examples.
“In the latter part of 2019, BCNC continued its tight partnership and co-development efforts with Eleanor Health, as the company begins operation in North Carolina to expand its comprehensive substance abuse treatment services,” Coppedge said. “These proof points set the stage for Echo’s October 2019 investment.
“Quartet Health also announced a partnership with Cambia Health Solutions to help improve the lives of people with mental health conditions. Cambia’s regional health plans and Quartet will work with healthcare providers to help patients with mental health conditions get the right care at the right time. Quartet previously had launched an innovative mental health collaboration with BCNC in January 2019.”
