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Life Health > Health Insurance > Life Insurance Strategies

Buoy Health, RecoveryOne and Zipari Attract Funding: Health Tech Deals

By Allison Bell

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Two companies have announced about $54.5 million in health tech financing deals this week.

Cigna Ventures, a Cigna Corp. venture capital arm, is investing $20 million in Buoy Health and $12 million in RecoveryOne.

(Related: 4 Insurtech Trends to Watch in 2020)

An investor group led by Vertical Venture Partners has invested $22.5 million in a third health tech company, Zipari.

Cigna’s Deals

Cigna is the Bloomfield, Connecticut-based health insurance giant that just acquired Express Scripts, and has a large international health insurance operation.

Cigna says it’s hoping its Cigna Ventures unit investments will help improve the way that health care gets delivered.

Buoy Health is a Boston-based company with a system that can analyze a user’s symptoms and tell the user what kind of care to get. The system can also follow up and verify whether the user has received the recommended care.

RecoveryOne is a Columbus, Ohio-based company that can help connect people with bone, joint, nerve or muscle problems with evidenced-based musculoskeletal care programs.

Vertical Venture Partners Deal

Vertical Venture Partners is a venture capital firm based in Palo Alto, California.

Zipari, the firm’s latest investment target, is a health insurance customer service support tech company based in Brooklyn, in New York.

A health insurer can use Zipari tools to integrate information from many different sources, including sales systems and broker tools, as well as information from customer relationship management systems.

Vertical Venture Partners says the new Zipari investor group includes Health Velocity Capital, a company that invests in health tech startups on behalf of many different types of health care organizations, and the investment arms of two major health insurers, CareFirst BlueCross BlueShield and Horizon Healthcare Services Inc.

— Read Life Quality Tracker Firm Raises $12 Million, on ThinkAdvisor.

— Connect with ThinkAdvisor Life/Health on Facebook, LinkedIn and Twitter.

Allison Bell

Think_Allison

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NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.