Cambia Creates New Investment Vehicle with North Carolina Company
Cambia Health Solutions is creating a new investment company with Durham, North Carolina-based Mosaic Health Solutions LLC.
Rob Coppedge, who currently leads Cambia’s investment strategy, will become chief executive officer of the newly created Echo Health Ventures.
Cambia will roll its outside investment arm, former known as Cambia Direct Health Solutions, into Echo. It will retain its wholly owned companies, including HealthSparq, in house, Coppedge said. He will continue to be part of the senior management team at Cambia.
“The success of Echo will be dependent on our ability to bring (together) capital and connections with the two health solutions businesses,” he said. “These two parent companies are putting their investment arms together such that we can have national scale and reach.”
Coppedge said the two parent companies have co-invested together previously.
“As we’ve been talking over the course of time with them, it was clear this might be a good opportunity,” Coppedge said. “We’re always looking for value and that’s the investment strategy they’re employing at Echo. As we encounter those opportunities, we will move quickly.”
Cambia is the parent company of Regence BlueCross BlueShield of Oregon and Mosaic is a subsidiary of Blue Cross and Blue Shield of North Carolina.