Jan 26, 2017

Where venture capital is flowing in health care

USDA / Flickr Creative Commons

Rob Coppedge, chief executive officer of venture capital firm Echo Health Ventures, spoke to Axios this week about what we're likely to see in health care technology investments. He sees three main targets, regardless of what happens in the new health care reform debate:

  1. Changing where people get their care: This isn't about moving from inpatient to outpatient, which has and continues to occur. This is about finding even easier and more convenient ways to receive care, like at home through telemedicine.
  2. Financing: Technology that helps people pay their bills and understand the extremely byzantine health care system will be in demand as people are expected to shoulder even more health care costs through higher deductibles, copays and coinsurance.
  3. Personalization: Trying to make people happy, or at least comfortable, in their dealings with the health care system.

Echo is jointly owned by Cambia Health Solutions and Blue Cross Blue Shield of North Carolina. (Cambia also is the parent company of a Blue Cross Blue Shield insurer in the Northwest, and the CEOs of Cambia and the North Carolina Blues, Mark Ganz and Brad Wilson, sit on Echo's board.)

So why are two health insurance companies teaming up to invest in startups? New health care companies desperately need scale. "It just takes forever to declare a winner in the health care space," Coppedge said.

Coppedge wouldn't say how much money his firm has to play with, but he said it "compares very favorably to a traditional health care growth equity fund." Echo has 22 health care companies in its portfolio right now.

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U.S. coronavirus updates: Death toll nears 11,000

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Andrew Witherspoon/Axios

Recorded deaths from the novel coronavirus surpassed 10,900 in the U.S. early Tuesday, per Johns Hopkins data. More than 1,000 people in the U.S. have died of coronavirus-related conditions each day since April 1.

Why it matters: U.S. Surgeon General Jerome Adams said on Sunday this week will be "the hardest and saddest week of most Americans' lives" — calling it our "our Pearl Harbor, our 9/11 moment."

Go deeperArrowUpdated 42 mins ago - Health

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11:30 p.m. ET: 1,347,803 — Total deaths: 74,807 — Total recoveries: 277,402Map.
  2. U.S.: Total confirmed cases as of 11:30 p.m. ET: 368,196 — Total deaths: 10,986 — Total recoveries: 19,828Map.
  3. Trump administration latest: President Trump's economic adviser Peter Navarro warned White House colleagues in late January the coronavirus could take over half a million American lives and cost close to $6 trillion, memos obtained by Axios show.
  4. 2020 update: Wisconsin Supreme Court blocks governor's attempt to delay in-person primary voting delayed until June.
  5. States latest: West Coast states send ventilators to New York and other states with more immediate need — Data suggest coronavirus curve may be flattening in New York, Gov. Andrew Cuomo said.
  6. World update: U.K. Prime Minister Boris Johnson moved to intensive care as coronavirus symptoms worsen.
  7. Stocks latest: The S&P 500 closed up 7% on Monday, while the Dow rose more than 1,500 points.
  8. What should I do? Pets, moving and personal health. Answers about the virus from Axios expertsWhat to know about social distancingQ&A: Minimizing your coronavirus risk.
  9. Other resources: CDC on how to avoid the virus, what to do if you get it.

Subscribe to Mike Allen's Axios AM to follow our coronavirus coverage each morning from your inbox.

Docs: Navarro memos warning mass death circulated West Wing in January

Image from a memo to President Trump

In late January, President Trump's economic adviser Peter Navarro warned his White House colleagues the novel coronavirus could take more than half a million American lives and cost close to $6 trillion, according to memos obtained by Axios.

  • By late February, Navarro was even more alarmed, and he warned his colleagues, in another memo, that up to two million Americans could die of the virus.

Driving the news: Navarro's grim estimates are set out in two memos — one dated Jan. 29 and addressed to the National Security Council, the other dated Feb. 23 and addressed to the president. The NSC circulated both memos around the White House and multiple agencies.

Go deeperArrow2 hours ago - Health