最有看点的互联网金融门户

最有看点的互联网金融门户
传统金融的互联网化国际资讯基于互联网平台的金融业务

医保改革过后 美国健康保险公司更加看好数字健康投资

传统金融的互联网化国际资讯基于互联网平台的金融业务

医保改革过后 美国健康保险公司更加看好数字健康投资

随着新医疗保健法带来的变化继续重塑健康保险行业,美国市场的健康保险公司正在投资和收购私人公司。

《平价医疗法案》通过后,美国健康保险市场受到一系列新动态的影响,包括适用人数的增加、健康交流的推出以及对预防医学的新重视。 尽管目前的健康监管形势变幻莫测,但以价值为基础的医药转型并未发生变化,保险公司仍在寻找更多的途径来管理其覆盖人群的健康状况,区分其产品,并使用其他方法获得新的数据。

为了这一目的,一些较大的健康保险公司已经开始在私人市场寻找投资或收购机会。 我们采用“CB Insights商业社交图”,通过美国健康保险市场份额来绘制美国最大的几家保险公司的私人市场活动。

由于近期行业内的大量合并,我们的调查包含了在2014年底拥有自主品牌(不论目前的所有权)的健康保险公司的活动。 合并的例子包括现在属于Anthem的WellPoint,以及仍在审查中的Anthem 和Cigna的额合并。 我们的分析包括如下公司:

  • Aetna
  • Anthem
  • BlueCross BlueShield Venture Partners
  • Centene
  • CIGNA
  • Health Care Service Corporation
  • Highmark
  • Humana
  • Humana Ventures
  • Kaiser Permanente
  • Kaiser Permanente Ventures
  • UnitedHealth Group
  • Optum
  • WellCare Health Plans
  • WellPoint

注:作为BlueCross BlueShield网络(及其子公司)一部分,且拥有足够市场份额的公司(即Anthem,Highmark医疗保健服务公司等)在此分析中单独考虑。 此外,BlueCross的集中创业公司BlueCross BlueShield Venture Partners也被纳入了此次分析。

关键信息

本次股权参与了2012年第一季度至2017年第一季度的141笔交易(投资和收购)。 蓝十字蓝盾风险投资公司(Blue Cross Blue Shield Ventures)活动最多,仅有42笔交易。

在所有投资者的141笔交易中,有63笔是关于数字健康的。 蓝十字在这个领域也是最活跃的,在此期间投资了19家独特的数字医疗公司,包括higi,Oncology Analytics和Hello Health。

Humana收购的公司数量最多,达到七家,重点是老年护理,包括Arcadian Management Services,American Eldecare和SeniorBridge Family。 该公司自2015年以来没有进行任何收购。

奥马达健康是这一时期唯一一家拥有多家顶级投资者(包括Kaiser Permanente Ventures和Humana Ventures)的健康保险公司的公司。 其他公司有多家保险公司的投资者,但这些投资是2012年前,且投资者并没有继续追加投资(如BlueCross与Healthbox Global Partners)。

医疗补助领域的几家公司被收购或接受投资,包括Simply Healthcare计划(Aetna),Amerigroup(WellPoint)和Benestream(Bluecross BlueShield Venture Partners)

大部分投资发生在A股和B股阶段,分别为18项和20项交易,其中包括对Audax Health,Solera Health和Contessa Health的交易。

Health insurers in the US market are investing and acquiring private companies as changes from new healthcare legislation continue to reshape their sector.

After the passage of the Affordable Care Act legislation, the US health insurance market was shaken up by a number of new dynamics, including the growth in numbers of covered people, the introduction of health exchanges, and the new emphasis on preventive medicine. Even though the current health regulatory landscape has been in flux, the shift to value-based medicine has not changed and insurers are still looking for more ways to manage the health of their covered population, differentiate their offerings, and get new datasets, among other efforts.

To do this, some of the larger health insurance companies have looked to private markets for investments or acquisitions. We used CB Insights Business Social Graph to map out the private market activity of the largest insurers by US health insurance market share.

Due to large amounts of recent consolidation in the industry, we included the activity of health insurers which had an independent brand at the end of 2014 regardless of current ownership. Some examples of consolidation include WellPoint, which is now owned by Anthem, as well as the Anthem/Cigna merger which is still under scrutiny. Our analysis includes:

  • Aetna
  • Anthem
  • BlueCross BlueShield Venture Partners
  • Centene
  • CIGNA
  • Health Care Service Corporation
  • Highmark
  • Humana
  • Humana Ventures
  • Kaiser Permanente
  • Kaiser Permanente Ventures
  • UnitedHealth Group
  • Optum
  • WellCare Health Plans
  • WellPoint

Notes: Corporations that are part of the Bluecross BlueShield network (as well as their subsidiaries) were considered for this analysis individually for those with large enough market share (ie. Anthem, Highmark Health Care Service Corporations, etc.). In addition, BlueCross’ centralized venture firm, BlueCross BlueShield Venture Partners was included in this analysis.

To see all the deals with these insurers, CB Insights clients can log in and check out this?deal search?on our platform.

Note: Investments are noted by green lines. Acquisitions by orange lines.

Key takeaways

This cohort was involved in a total of 141 transactions (investments and acquisitions) between Q1’12 and Q1’17. Blue Cross Blue Shield Ventures had the most activity with 42 deals alone.

Of the total 141 transactions across all the investors, 63 of them were in digital health. Blue Cross was also the most active in this space, with investments in 19 unique digital health companies during this time including?higi,?Oncology Analytics, and?Hello Health.

Humana had the most acquisitions with 7 and an emphasis on elderly care, including Arcadian Management Services, American Eldecare, and SeniorBridge Family. The company hasn’t made any acquisitions since 2015 however.

Omada Health was the only company during this time period to have multiple investors among top health insurers (Kaiser Permanente Ventures and Humana Ventures). Other companies have multiple insurers investors but those investments were pre-2012 and those investors did not follow-on (such as BlueCross with Healthbox Global Partners).

There were several companies in the Medicaid space that were acquired or received investment, including?Simply Healthcare Plans?(Aetna), Amerigroup (WellPoint), and Benestream0 (Bluecross BlueShield Venture Partners)

Most of the investments occurred at the Series A and B stage, which took 18 and 20 deals, respectively, including deals into Audax Health, Solera Health, and Contessa Health.


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cynthia-lian | 未央团队未央编辑团队

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