Axios Pro Exclusive Content

Morgan Health joins Embold round

Erin Brodwin
Mar 16, 2022
Illustration of a hand tapping an app icon with a medical cross
Illustration: Annelise Capossela/Axios

Morgan Health, the health care business of JPMorgan Chase, joined a $23 million funding round for Embold Health, a health care navigation company designed to help assess provider quality.

Why it matters: The investment is Morgan Health’s second bet on a health care startup following its $50 million backing of primary care company Vera Whole Health last August.

Details: This time around, rather than investing alone, Morgan Health is joining a larger Series B led by Echo Health Ventures — contributing $5 million alongside other backers including Chrysalis Ventures and Whistler Capital Parters.

Be smart: JPMorgan unveiled Morgan Health following the demise of Haven, its once highly-regarded — but ultimately dysfunctional — venture with Amazon and Berkshire Hathaway.

  • Led by the famed surgeon and author Atul Gawande, Haven was an attempt to cut skyrocketing health care costs and boost access to quality care.
  • Similarly, Morgan Health is focused on increasing access to value-based forms of health care for those with employer-sponsored health insurance.
  • Morgan's backing of Vera and Embold — along with a research partnership with Kaiser Permanente — is intended to help achieve those goals.
  • “We are committed to concepts of accountable care,” says Dan Mendelson, CEO of Morgan Health. “Health care navigation is an input that allows consumers to have more control.”

What’s next: Morgan Health has “300 companies in the pipeline" that it may back in the future, Mendelson tells Erin. “Ultimately, we want to make care more accessible to our employees.”

Go deeper