Health Care Service Corporation

Health Care Service Corporation (HCSC), founded in 1936, is the largest non-investor-owned health insurer in the United States, operating Blue Cross and Blue Shield plans in Illinois, Montana, New Mexico, Oklahoma, and Texas. Serving nearly 14.7 million members, HCSC employs around 23,000 individuals across more than 60 local offices. The company provides a range of health insurance products, including group life, disability, and dental solutions, through its affiliates and subsidiaries. HCSC has a history of being a pioneer in health coverage, offering early access to treatments such as transplants and cancer therapies. It is recognized for promoting value-based care models that enhance collaboration among stakeholders to improve patient experiences. Committed to community well-being, HCSC engages in charitable activities, volunteerism, and partnerships to support the communities where its members and employees live and work.

Kevin Cassidy

President, HCSC National Accounts

Sahil Choudhry

Executive Director

Paras Desai

Executive Director, Corporate Strategy - Platform and Portfolio

Opella Ernest

President of HCSC Markets

James Kadela

Senior Vice President and Controller

Chirag Padalia

Executive Director, People Analytics and Insights

Clarita Santos

Executive Director of corporate and civic Partnerships

Jill Wolowitz

Senior Vice President and Chief Administrative Officer

6 past transactions

Collective Health

Series F in 2021
Collective Health offers a cloud-based platform that transforms how self-insured employers manage health benefits. This integrated system allows companies to administer various health plans through a single portal, providing employees with clear guidance, live concierge support, and digital tools to navigate their healthcare options. By focusing on a smarter alternative to traditional health insurance, Collective Health aims to enhance the value of healthcare investments while improving employee care. The company has experienced significant growth in the employer-sponsored insurance market, currently covering 70,000 employee and dependent lives across 15 employers, including notable clients such as Activision Blizzard, Crossfit, eBay, Palantir, and Red Bull.

ClearDATA

Series E in 2018
ClearDATA Networks, Inc. specializes in healthcare cloud computing and information security solutions, catering to healthcare providers, life sciences organizations, and payers. Founded in 2009 and headquartered in Austin, Texas, with additional offices in San Francisco and Scottsdale, the company offers a multi-cloud platform that automates, protects, and manages healthcare applications and data. Key offerings include ClearDATA Comply, which helps organizations ensure cloud compliance with privacy regulations; ClearDATA Assess, designed for conducting mandatory HIPAA Security Risk Assessments; and ClearDATA Locate Mask, which enables healthcare organizations to utilize sensitive data safely by masking personal information. ClearDATA's HITRUST-certified cloud is recognized for its robust security and compliance solutions, providing a comprehensive Business Associate Agreement (BAA) and enabling clients to improve data management while minimizing privacy risks. The company's services extend to process design, solution architecture, custom development, and security risk assessments, empowering the healthcare sector to enhance service delivery through advanced analytics and scalable IT infrastructure.

MDLive

Venture Round in 2018
Founded in 2006, MDLive is a telehealth provider that offers online and on-demand healthcare services. The company connects patients with board-certified doctors through phone, video, and mobile applications, facilitating access to medical care without the need for in-person visits. Its cloud-based platform allows healthcare professionals and institutions to conduct virtual consultations, helping to ensure safe and efficient patient care while reducing the costs associated with emergency room and urgent care visits for non-emergency issues. MDLive serves a diverse range of clients, including hospitals, employers, payers, and physician practice groups, thereby enhancing the overall healthcare delivery system.

Cogitativo

Series A in 2017
Cogitativo, Inc. is a data-science company based in Berkeley, California, founded in 2014. It specializes in providing machine learning solutions to healthcare organizations, including hospitals, physicians, and payers. Cogitativo's platform enables clients to effectively analyze complex public and proprietary data, thereby enhancing the efficiency of healthcare systems. By using a data curation model, the company helps clients reduce epistemic opacity and address challenging business problems. The team at Cogitativo comprises skilled data scientists and healthcare experts from prestigious academic institutions, offering a unique combination of scientific knowledge and practical insights to improve decision-making in the healthcare sector.

Healthbox

Venture Round in 2014
Healthbox is a private equity firm based in Chicago, Illinois, established in 2010, that specializes in supporting innovation within the healthcare sector. The firm provides consulting and fund management services to organizations, focusing on the development of innovative programs that engage caregivers and assess the commercial viability of internal projects. Healthbox also aids organizations in identifying and sourcing external solutions and investment opportunities. The firm manages multiple venture capital funds, including the Healthbox Opportunity Fund I and the Healthbox Salt Lake City I, which target early-stage investments in healthcare technology, software, and healthcare devices. Through its services and investments, Healthbox aims to foster growth and innovation in the healthcare industry.

MEDecision

Acquisition in 2008
MEDecision offers collaborative healthcare management solutions aimed at enhancing the operations of health plans and care delivery organizations. The company specializes in digital care management services that integrate various modular healthcare management and data analysis tools. By connecting the healthcare ecosystem with essential data and insights, MEDecision enables its clients to foster meaningful consumer engagement and improve experiences. Additionally, these solutions are designed to create operational efficiencies that can lower costs and promote more effective care delivery.
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