What You Ought to Know:
– Echo Well being Ventures, a healthcare strategic enterprise capital and development fairness funding agency, at the moment introduced it’s establishing a neighborhood presence in Tennessee led by Echo Well being Advisors Principal Hayley Hovious, who joined the corporate in March following seven years as president of the Nashville Well being Care Council.
– Echo Well being Ventures CEO Rob Coppedge expects the brand new location to drive innovation by creating connections between its portfolio firms, Echo Innovation Alliance members representing 4 Blues well being plans, and well being providers firms headquartered within the space.
Why Nashville?
Echo CEO Rob Coppedge, a Tennessee native, sees its Nashville presence as a serious milestone in the direction of the corporate’s mission to drive innovation to enhance well being outcomes, main the best way towards higher well being for the communities served by 4 Blues well being plans that type the Echo Innovation Alliance. The alliance contains Cambia Well being Options and Mosaic Well being Options, which partnered to create Echo Well being Ventures in 2016; USAble Company, an entirely owned subsidiary of Arkansas Blue Cross and Blue Defend, which joined the alliance in 2021; and BlueCross BlueShield of Tennessee, which grew to become an alliance member earlier this yr. Collectively, the 4 enterprises cowl greater than 10 million members and various geographies in seven states.
Echo Funding Portfolio
With the addition of its Tennessee location, Echo now operates in six states together with Oregon, North Carolina, Arkansas, Washington and Massachusetts. Echo’s rising funding portfolio contains greater than 25 healthcare know-how and providers firms, together with a current funding in Nashville-based Embold Well being, a physician-led well being care analytics firm. Echo continues to be a sought-after strategic investor due to its platform and engagement mannequin.
“Echo invests to construct nice well being care firms driving change that aligns with the priorities of its allied well being plans – bettering affordability, accessibility, the member expertise and outcomes,” stated Hovious. “I sit up for being a part of a staff accelerating and scaling adoption of cutting-edge well being care applied sciences and providers on a nationwide scale.”