Devoted Health, New Medicare Advantage Business, Raises $300 Million [Forbes]
Athena Technology Acquisition Corp. Class A (ATHN)
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Source: Forbes
Medicare Advantage Plan company Devoted Health announced that it raised $300 million in venture capital funding Tuesday. Photo courtesy of Devoted Health As open enrollment for Medicare began Monday, in one of the largest healthcare company fundraises of the year, Medicare Advantage business Devoted Health says it's raised $300 million in a Series B round led by Andreessen Horowitz. “The problem is the fact that the system itself is fundamentally not designed in a patient-centric way,” wrote cofounder Ed Park in a post on LinkedIn Tuesday. “People are stuck ping-ponging among an assortment of well-meaning primary care doctors, specialists, hospitals, and other facilities, resulting in a patient experience that is highly uncoordinated, fragmented, and reactive, compounded by administrative hassles that seem to emerge from every corner.” Devoted’s answer to that problem is to become what it's calling a “payvidor,” a servi
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