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.

Eric Feldstein

Senior Vice President and Chief Financial Officer

Maurice Smith

President and Chief Executive Officer

Paula Steiner

President and Chief Executive Officer

James Walsh

Senior Vice President, Finance

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 is the trusted managed cloud provider, designed for today’s healthcare security needs. More than 350,000 healthcare professionals trust the ClearDATA HIPAA-compliant cloud to safeguard their patient data and power their critical applications. ClearDATA protects sensitive healthcare data using compliance and security safeguards, purpose-built DevOps automation, and healthcare expertise — all backed by managed cloud services. This ensures healthcare organizations, and the technology providers that support them, are adhering to the highest standards in privacy, security and compliance in the cloud.

MDLIVE

Venture Round in 2018
Founded in 2006, MDLIVE, formerly MDLiveCare, is a telehealth provider of online and on-demand healthcare delivery services and software that benefit patients, hospitals, employers, payers, physician practice groups, and accountable care organizations.

Cogitativo

Series A in 2017
Cogitativo, Inc. is a Data-Science-as-a-Service company based in Berkeley, California, established in 2014. It specializes in providing machine learning solutions to healthcare organizations, enabling them to derive insights from both public and proprietary data sources. By addressing the complexities of data, Cogitativo assists hospitals, physicians, and payers in making informed decisions to enhance the healthcare system in the United States. The company's team of data scientists, drawn from leading academic institutions, collaborates with healthcare experts to deliver valuable insights and solutions, thereby reducing epistemic opacity in healthcare data analysis.

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 provides collaborative health care management solutions.