Cigna invests millions in startups

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Company brief

Global health insurance provider Cigna has announced its intention to invest US$250 million in startups working in various corners of the healthcare sector.

Specifically, Cigna is looking to invest in the areas of analytics, digital health, retail, care management and other value-based segments. Through investment in analytics, the company hopes to tackle challenges posed by risk assessment, healthcare network optimisation and patient care plan assessments. It is also hoping to invest in startups focusing on wellness, customer service and experience, and therapeutic solutions. Care management investments, it is hoped, will allow for innovation in the areas of care enablement, sites of care and patient accessibility.

“Cigna’s commitment to improving the health, wellbeing and sense of security of the people we serve is at the front and centre of everything we do,” commented Tom Richards, Senior Vice-President and Global Lead for Strategy and Business Development at Cigna. “The venture fund will enable us to drive innovation beyond our existing core business operations, and incubate new ideas, opportunities, and relationships that have the potential for long-term business growth and to help our customers.”

Among the startups in which Cigna has announced investment are Omada Health, a company using digital solutions to support therapeutic approaches.