JPMorgan unit backs Centivo's $75 million financing raise to reduce out-of-pocket costs

From Investing.com: 2024-09-24 12:58:17

Centivo secures $75 million in financing from Cone Health Ventures and JPMorgan Chase’s Morgan Health division. The company aims to reduce out-of-pocket costs for healthcare services. They plan to use the capital to improve technology, expand partnerships, and grow their network. Investors include big names like B Capital and F-Prime Capital.

Out-of-pocket costs were cut by 71% in 2023, saving employers 15% or more. Centivo CEO Ashok Subramanian states the goal is to provide cost-transparent care through strategic health system partnerships. JPMorgan Chase Vice-Chairman Peter Scher emphasizes the importance of enhancing employee health offerings without increasing premium costs. Trinity Capital and JPMorgan Chase provided the debt facility for the raise.



Read more at Investing.com: JPMorgan unit backs Centivo’s $75 million equity and debt raise By Reuters