Healthworx Q4 2019 Update: Investment in Zipari and Socially Determined; Support of CareFirst’s Entry into Medicaid
Baltimore and Washington, D.C. —Healthworx, the corporate development and innovation arm of CareFirst BlueCross BlueShield (CareFirst), is pleased to announce its participation in the funding rounds of two innovative healthcare companies, Zipari and Socially Determined.
The investment in Zipari’s Series B capital raise is aligned with CareFirst’s mission and strategy to increase engagement with its members, anticipate their needs and deliver high quality service using Zipari’s full suite of enterprise customer experience and engagement products. Healthworx’ investment in the Series A capital raise of Socially Determined, a DC-based healthcare technology and analytics company focused on using data to identify and analyze the social determinants of health needs of individuals and communities, also aligns with CareFirst’s mission to improve the overall health, and increase the accessibility, affordability, safety and quality of health care throughout its service area. Both investments will allow CareFirst to collaborate and innovate with both companies to achieve better access to needed services and a more engaging customer experience for CareFirst members.
In addition to these investments, Healthworx played a pivotal role in two recently announced managed Medicaid acquisitions in Maryland and Washington, D.C. These acquisitions were among the first steps in a larger strategic effort to serve government program populations.
“These initiatives align with our strategy of supporting innovative organizations that are committed to positively evolving and transforming our healthcare landscape,” said Ricardo R. Johnson, Vice President of Healthworx. “Through these acquisitions and investments, CareFirst can positively impact the healthcare journeys of millions of its members, especially those in vulnerable populations, making it a simpler and more complete experience across all of its markets.”
Healthworx will continue to focus on innovation-driven investments and strategic partnerships throughout 2020. Areas of focus for Healthworx this year include:
- behavioral health access;
- pharmacy model disruption;
- senior services;
- social isolation; and,
- tools to help providers responsibly participate in value-based payment arrangements.
We encourage entrepreneurs and executives that are interested in investments and partnerships with Healthworx to contact InquiriesHealthworx@carefirst.com.
About Healthworx
Founded in 2017, Healthworx is the corporate venture, corporate development and commercialization arm of CareFirst BlueCross BlueShield. Healthworx enables CareFirst to work with pioneering healthcare companies to bring breakthrough technologies to its members and communities. Through these strategic investments and partnerships, Healthworx furthers CareFirst’s mission to improve healthcare quality, increase access to care and reduce costs for its stakeholders.
About CareFirst BlueCross BlueShield
In its 82nd year of service, CareFirst, an independent licensee of the Blue Cross and Blue Shield Association, is a not-for-profit health care company which, through its affiliates and subsidiaries, offers a comprehensive portfolio of health insurance products and administrative services to 3.2 million individuals and groups in Maryland, the District of Columbia and Northern Virginia. In 2018, CareFirst invested $38 million to improve overall health, and increase the accessibility, affordability, safety and quality of health care throughout its market areas. To learn more about CareFirst BlueCross BlueShield, visit our website at www.carefirst.com or follow us on Facebook, Twitter, LinkedIn or Instagram.