Mosaic and Cambia Join Forces to Create a New Model for Strategic Health Care Investment
DURHAM, N.C. & PORTLAND, Ore. (November 15, 2016) – Mosaic Health Solutions and Cambia Health Solutions, Inc. today announced the creation of Echo Health Ventures, a new health care investment company focused on investing in great companies and transforming health care for consumers.
Echo Health Ventures combines the complementary strengths of Mosaic’s and Cambia’s existing investment programs and will continue its growth through capital deployment that supports transformative, consumer-centric health care companies.
The parent companies governing boards have tapped Rob Coppedge to lead the combined strategic investment company as its Chief Executive Officer. Coppedge brings over 20 years of health care venture funding experience and most recently served as President of Cambia’s strategic investment division.
“The next great health care companies will personalize health care, reduce costs and focus on the consumer – not the enterprise,” said Rob Coppedge. “By leveraging the strength of Cambia and Mosaic, we are able to bring significant value to our portfolio companies. Whether they are early stage startups or well established growth companies, Echo will uniquely support getting their innovations to scale faster and more successfully across the multi-trillion dollar health care market.”
The Echo Health Ventures board will include Mark Ganz, President and CEO of Cambia Health Solutions, and Brad Wilson, President and CEO of Blue Cross and Blue Shield of North Carolina.
“The time is right for increased collaboration to drive real change in health care as fast- changing market dynamics demand innovation,” said Brad Wilson. “Cambia and Mosaic’s relentless focus on disrupting the current model to put consumers first makes them a game-changer for the entire industry.”
“Our two organizations are aligned by our values and commitment to create a seamless health care experience for consumers,” said Mark Ganz. “Together, we will find forward- thinking companies, and build upon our existing investment portfolios, to accelerate innovation and deliver health care solutions for people and their families.”
“Both Cambia and Mosaic hold the same long-term views, that creating transformation in health care is not just about good ideas but investing for the long term,” said Maureen O’Connor, President of Mosaic Health Solutions. O’Connor will retire at the end of the year.
Echo Health Ventures builds on the success of Mosaic and Cambia’s strategic investment division to demonstrate an unmatched value proposition for stakeholders across the entire health care ecosystem, including:
- Unmatched investment sourcing and industry relationships across the US
- Access to deep industry knowledge and resources from two leading health solutions companies with demonstrated experience in providing products and services to millions of Americans
- National scale and access to human capital, supporting a greater speed-to- market for critical innovations in the health care industry
- Long-term commitment and stage-agnostic approach to investing focused on consumer needs and health care of the future
- Specialized support for entrepreneurs and innovative companies as they develop the next paradigm for our health care system
- Active cultivation of strategic distribution partnerships among portfolio companies when appropriate
- Echo Health Ventures operates nationwide with offices in Durham, N.C., Portland, Ore. and Seattle.
About Echo Health Ventures
Echo Health Ventures LLC invests to build and grow tomorrow’s great health care companies. We invest across every stage and work with our portfolio companies to challenge and transform the health care system. As a strategic collaboration between Cambia Health Solutions and Mosaic Health Solutions, we work closely with our Parents to catalyze the development of our portfolio companies’ and accelerate their innovations to scale nationally. Echo Health Ventures operates nationwide with offices in Durham, N.C., Portland, Ore. and Seattle. Follow us on Twitter @healthecho.
About Mosaic Health Solutions
Mosaic Health Solutions, LLC, headquartered in Durham, North Carolina, is accelerating health care transformation. By deploying strategic investments of financial and intellectual capital, Mosaic partners with investors and other stakeholders to drive growth for innovative companies across the health care ecosystem.
About Cambia Health Solutions
Cambia Health Solutions, headquartered in Portland, Oregon, is dedicated to transforming health care. We put people at the heart of everything we do as we work to make the health care system more economically-sustainable and efficient for people
and their families. Our company reaches more than 70 million Americans nationwide, including more than two million people in the Pacific Northwest who are enrolled in our regional health plans. To learn more about us, visit CambiaHealth.com or Twitter.com/cambia.