After his digital health startup Livongo sold to Teladoc for $18.5 billion, Glen Tullman has found his next venture. He’s leading a health navigation startup called Transcarent, which sets itself apart from its peers by striking risk-based agreements with employers.
The San Francisco based company raised a $40 million series A round in October, led by General Catalyst Managing Partner Hemant Taneja and 7wireVentures Managing Partner Lee Shapiro. Both were also previous investors in Livongo, and Tullman is still a managing partner at 7wire.
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“We started Transcarent to make it easier for people to stay healthy and enable employers to empower their employees and their families with unbiased information, trusted guidance, and access to a broader range of choices, which will lead to higher quality and more affordable care,” Tullman said in a news release.
Similar to other navigation services, employees can talk to a health guide, or set up a video chat with a physician, nurse, or pharmacist. They can request second opinions, a medication review, virtual physical therapy and surgery management services. While employees still have the choice of their usual health network, they will also be able to share in the savings from their decisions, Tullman said.
Transcarent also acquired BridgeHealth, a Denver-based company that works with self-insured plans to contract at pre-negotiated, bundled rates with surgeons and Centers of Excellence. BridgeHealth has more than 1 million covered members, and contracts with more than 160 surgery centers and Centers of Excellence.
Since the deal with Teladoc closed, other former Livongo executives have also moved into new roles. Former CEO Zane Burke joined the board of directors for Bardavon Health Innovations, and former President Jennifer Schneider joined Cityblock Health’s board.
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Meanwhile, consolidation among digital health companies continues to ramp up as they seek to encompass a wider range of health services. Grand Rounds, which also offers patient navigation services and second opinions, recently struck a merger with Doctor on Demand, allowing it to integrate its platform with virtual primary care services.
Photo credit: Glen Tullman, Livongo
