Devoted Health, a start-up selling health insurance to seniors, is worth $1.8 billion [CNBC]
Athena Technology Acquisition Corp. Class A (ATHN)
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Source: CNBC
Source: HHS.gov Todd Park The team behind Castlight Health and Athenahealth , both public companies in health-tech, are onto their next billion-dollar venture. Devoted Health, a health insurance start-up targeting seniors, is now valued at $1.8 billion, people familiar with the matter told CNBC, after raising $300 million in fresh capital earlier this week. The sources asked not to be named because the valuation wasn't disclosed. Todd and Ed Park, brothers and serial health-tech entrepreneurs, founded Devoted last year, jumping into the market for Medicare Advantage (MA) plans, which provide coverage for people over age 65. It's a lucrative opportunity for business, because baby boomers are aging into Medicare, and people who use MA receive benefits through private health plans but with big government payouts to the insurers — about $10,000 on average per member. show chapters if we can keep people healthier, it'
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