Health services organization Cigna on Wednesday launched a corporate venture fund with an infusion of $250 million in capital to be invested in healthcare technology startups and early-stage companies.
Cigna Ventures will focus on “transformative and innovative” healthcare startups specializing in analytics, digital health, retail, care management, and other business opportunities related to value-based care.
The fund will focus on analytics investments that can address the challenges of improving risk assessment, healthcare network optimization, and patient care plan assessment. Cigna Ventures is also looking for companies that work to improve member wellness, customer service and experiences, and therapeutic solutions. Investments in care management will center on care enablement, sites of care, and patient access to care.
“Cigna’s commitment to improving the health, well-being and sense of security of the people we serve is at the front and center of everything we do,” says Tom Richards, senior vice president and global lead, strategy and business development at Cigna. “The venture fund will enable us to drive innovation beyond our existing core business operations, and incubate new ideas, opportunities and relationships that have the potential for long-term business growth and to help our customers.”
“Our partnership with Cigna has been about so much more than capital,” says Sean Duffy, Omada’s co-founder and CEO. “The ability to collaborate with, learn from and integrate deeply with a health services company so dedicated to delivering a 21st century care experience to its customers and clients has enabled us to accelerate innovation, advance our capabilities, and grow our customer base.”
The fund adds to Cigna’s current venture activity that includes collaborations with five venture partners and five direct investments.