Centivo Raises $75 Million to Fix America’s Broken Healthcare Model
The Company is Doubling Down on its Mission of Building a Radically Affordable Healthcare Solution That is Beneficial to Employers and Employees Alike
Healthcare costs in the
"We are thrilled to have this level of financial support toward the continued growth of our radically affordable healthcare solution in America”, said Ashok Subramanian, CEO and Co-Founder of Centivo. "Our next step is to expand the number of Americans who can finally have a health plan that they can afford to use and to make more heroes out of those employers who are restoring healthcare affordability in their workplaces."
In 2023 alone, Centivo’s health plans achieved a 71 percent reduction in member out-of-pocket costs compared to the plans they replaced. This occurred while also typically saving employers
The company serves Americans in all 50 states and across a diverse array of industries, including automotive, retail, transportation, manufacturing, financial services, school districts, and more. To learn more about Centivo, visit www.centivo.com.
About Centivo:
Centivo’s mission is to bring affordable, high-quality healthcare to the millions of workers who struggle to pay their medical bills. Centivo’s innovative health plan is designed specifically to curb the inefficiency and waste that exist in today’s employer-sponsored health plans. In partnership with leading local health systems, Centivo’s primary care-centered health plan offers employers a replacement to traditional health insurance carriers, lowering the total cost of care by 30 percent or more while delivering tangible value to employers, employees, and its partner health systems. To learn more about Centivo, please visit: https://centivo.com/.
About Cone Health Ventures:
Cone Health Ventures identifies entrepreneurial companies with solutions that address the greatest needs and top strategic aims of Cone Health. By creating partnership agreements to align the interests of all parties, Cone Health Ventures accelerates commercialization into the broader healthcare market to create value for the companies, Cone Health, and our patients.
About MemorialCare Innovation Fund:
MemorialCare Innovation Fund (MCIF) brings strategic investment funding to accelerate the development of companies in the healthcare information technology, healthcare services, and medical device sectors that can advance high-quality, effective healthcare.
About Trinity Capital Inc.:
Trinity Capital Inc. (Nasdaq: TRIN), an internally managed business development company, is a leading provider of diversified financial solutions to growth-stage companies with institutional equity investors. Trinity Capital's investment objective is to generate current income and, to a lesser extent, capital appreciation through investments, including term loans and equipment financings and equity-related investments.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240924454675/en/
SolComms
Bruno Solari
centivo@solcomms.co
Source: Centivo