Centivo, a Buffalo, NY-based healthcare company dedicated to making high-quality healthcare more affordable for employers and their employees, secured $75M in equity and debt financing.
The round included participation from new strategic investors Cone Health Ventures and MemorialCare Innovation Fund, as well as existing financial investors including B Capital, Cox Enterprises, F-Prime Capital, Ingleside Investors, and Morgan Health (a division of JPMorgan Chase). Debt facilities are provided by Trinity Capital and ongoing banking partner, JPMorgan Chase.
The company intends to expand its business reach.
Led by CEO Ashok Subramanian, Centivo provides a health plan designed specifically to curb the inefficiency and waste that exist in today’s employer-sponsored health plans. The company is working to proactively help employers manage these costs through its three-part solution:
- An advanced primary care centered model, anchored by Centivo Care, the organization’s in-house virtual primary care practice.
- Direct contracts with accountable care organizations (ACOs) in 18 major markets committed to enhanced access and high-value care.
- A tech-enabled member engagement and plan administration platform.
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.
FinSMEs
24/09/2024