Devoted Raises $62M to Offer Health Insurance to Your Mom
Think: a new Waltham, MA-based healthcare company that aims to launch Medicare Advantage plans in 2019, with the mission of building a health care solution good enough for Mom. Kind of like the ones built by Clover Health and Bright Health. According to its website, it will utilize world-class technology to enable a simplified experience, and will partner with top providers for better health outcomes.
The startup was cofounded by Todd Park and Ed Park and has recently closed close to $62M in a Series A round led by Venrock. Also, Ed has previously served as the executive vice president and chief operating officer at athenahealth, a provider of network-enabled services and mobile applications for healthcare providers. Same athenahealth that was established by Jonathan S. Bush (the cousin of George W. Bush) and Todd Park.
BTW, according to Venrock’s site, athenahealth, established in 1997, provides the only physician revenue and clinical cycle management offering that integrates web-based practice management and EMR software, continually updated payer knowledge, and back office processing specialists into a single service. Bottom Line: look for it in 2019.