CVS Health Ventures

Membership-based, non-insurance healthcare companies helping maintain a steady state of well being.

Preventive Healthcare

Oshi Health is a virtual gastrointestinal (GI) care clinic that connects patients with its network of healthcare professionals. The company provides access to gastroenterologists, registered dieticians, mental health providers, and health coaches to create personalized care plans and help manage GI conditions such as Crohn’s disease, irritable bowel syndrome, inflammatory bowel disease (IBD), gastroesophageal reflux disease, and celiac disease. It also facilitates local labs or at-home tests, provides health monitoring tools to track symptoms, and offers in-person services for patients in need. The company claims its all-in-one mobile app is the first for managing IBD.Oshi Health’s 3 to 6 month whole-person program identifies the root causes of GI symptoms, prescribes medication, and helps members implement changes in diet, sleep, and stress. Members have access to a dedicated health coach and remote monitoring services that allow healthcare providers to make recommendations before symptoms escalate. It charges USD 20 per virtual visit.Key customers and partnershipsThe company partners with employers and health insurance companies to access their employees and members as a covered benefit. Oshi Health is available across several US states.The company’s key partners include 1) Collective Health to provide employers access to GI care through its Partner Collective hub (<a href="https://oshihealth.com/oshi-health-joins-collective-healths-digital-health-hub-to-offer-effective-digestive-health-for-employers/">June 2024</a>), 2) American College of Gastroenterology and the American Gastroenterological Association to develop more rapid and scalable virtual treatment courses for GI practices (<a href="https://sp-edge.com/updates/19353">June 2023</a>), 3) CVS Health-owned insurer Aetna to provide in-network access to specialized treatment (<a href="https://sp-edge.com/updates/17587">April 2023</a>), and 4) Firefly Healthcare to provide Firefly members access to Oshi’s specialty care network (<a href="https://sp-edge.com/updates/9146">March 2022</a>).Funding and financialsThe company’s latest funding round was in <a href="https://sp-edge.com/updates/17653">April 2023</a>, where it raised USD 30 million in a Series B funding round led by Koch Disruptive Technologies. The funds were used to speed up its next stage of expansion, expand its clinical staff across the country, and establish connections with health plans, employers, channel partners, and provider groups.

Strive is a chronic disease management platform that provides primary care providers and nephrologists with solutions designed to slow the progression of kidney disease. Services offered by the company include personalized care plans, home dialysis services, transplant coordination, and a team of care managers. The company claims its value-based care approach has led to significant improvements, including a 20% reduction in the total cost of kidney care, a 42% reduction in hospitalizations, and a 94% overall patient satisfaction rate.Strive uses a machine learning platform, CareMultiplier, to analyze patient data, identify the stage of kidney disease, and predict the probability of disease progression. This enables the company to provide interventions tailored to each patient's needs.Key customers and partnershipsAs of March 2024, the company had provided care for over 100,000 patients across 34 states and had partnered with over 700 nephrology providers.In <a href="https://strivehealth.com/news/humana-and-strive-health-announce-expansion-of-holistic-patient-centered-care-for-people-with-kidney-disease/">March 2024</a>, the company partnered with Humana to provide a value-based care multi-state agreement for members. Furthermore, in <a href="https://sp-edge.com/updates/21341">August 2023</a>, Strive Health partnered with Oak Street Health to provide treatment for patients affected by severe chronic kidney disease (CKD).Funding and financialsIn<a href="https://sp-edge.com/updates/19002"> May 2023</a>, the company raised USD 166 million in a Series C funding round led by NEA and CVS Health Ventures. The funds were used to expand partnerships with payors, health systems, and physicians, as well as to grow and scale the business in new markets.

Thyme Care is an oncology care management company that provides high-touch, technology-enabled care navigation. Thyme Care guides cancer patients and their caregivers by providing personalized resources, support, and quick access to high-value care.&nbsp;Thyme Care’s platform Thyme Box enables care teams to gather patient context, manage comorbidities, and coordinate care with other providers. The tech-enabled model generates insights that allow doctors to identify at-risk members earlier and facilitate quick access to quality resources and value care.&nbsp;Thyme Care is a healthcare service focused on offering continuous 24/7 support to guide patients in accessing the necessary care and support for their health needs. Thyme Care serves patients by acting as an intermediary between the patients and their healthcare teams, offering support and coordination of care within and outside the hospital. Thyme Care also provided additional support services such as transportation, housing, and financial assistance to reduce barriers to care. In <a href="https://sp-edge.com/updates/29085">May 2024</a>, the company launched a virtual palliative care program for members and caregivers.Key customers and partnershipsAs of May 2024, the company had over 500,000 members across 31 states in the US.&nbsp;In March 2024, Thyme Care launched the Thyme Care Oncology Partners (TCOP), a platform for oncology practices. Over 800 oncologists across 25 states have joined TCOP, collaborating with Thyme Care to design and implement value-based care programs for patients covered by participating risk-bearing entities and government-sponsored programs.

New technologies are opening up mental health services to previously overbooked and underserved populations.

Mental Health Tech

Workit Health is an addiction recovery platform that provides online therapy and medically-assisted treatments for substance and process addiction, accessible via a mobile app. Its coaching and counseling program includes virtual consultations, e-prescriptions and medication, online recovery support groups, psychiatric support, an interactive therapeutic curriculum, and direct messaging with a care team. Additionally, it provides primary care services for co-occurring conditions, unlike its competitors. The company focuses on maintaining engagement rather than maintaining sobriety. This approach allows members to collaborate with healthcare providers on their own care goals.&nbsp;In October 2021 the company raised USD 118 million in a Series C funding round led by Insight Partners, which valued the company at USD 500 million.&nbsp;Key customers and partnershipsAs of September 2024, the company had treated over 20,000 patients and held contracts with over 230 health plans across 10 states. Workit Health works with various health insurance providers, including Aetna, Humana, Cigna, and Blue Cross and various Medicare plans.

Cortica offers various behavioral therapy options for children who face developmental challenges like autism spectrum disorders, pediatric strokes, and behavior disorders. The therapy options include speech therapy, music therapy, neuromodulation therapy, and nutrition counseling. The treatments are available in-person, at home or online, depending on the child's specific needs.The firm leverages data analytics, an in-house scheduling software platform and clinical decision support tools to provide applied behavioral analysis, medical, counseling and developmental services to children diagnosed with autism.In April 2023, the firm acquired two healthcare organizations, which increased Cortica's total integrated autism centers to 23 with 1,600 providers across seven states in the US. Following the acquisitions, the company was expected to serve more than 10,000 neurodivergent children and their families in 2023.Key customers and partnershipsThe company operates a B2B2C business model, partnering with health insurance companies for value-based payment arrangements.&nbsp;In September 2022, Cortica partnered with Point32Health to provide services to Tufts Health Plan commercial members and MassHealth members in Massachusetts. Cortica has also partnered with CVS Health Ventures, which led a USD 40 million funding round for the company in October 2023. This partnership aimed to improve access to Cortica's services for CVS Health members and their dependents.

More important now than ever, telehealth will long outlast the pandemic that drove its growth.

Telehealth

Maven Clinic is a specialized telemedicine provider, offering an end-to-end solution covering fertility, pregnancy, parenting, and pediatrics. The company provides a global health and family care platform that offers 24/7 virtual care and support in <a href="https://www.mavenclinic.com/about">175 countries</a>. The company achieved unicorn status in <a href="https://fortune.com/2021/08/17/maven-clinic-fundraise-series-d-unicorn-women-family-health/">August 2021</a>.&nbsp;In <a href="https://www.prnewswire.com/news-releases/maven-clinic-accelerates-growth-in-the-united-kingdom-with-acquisition-of-naytal-301776700.html#:~:text=LONDON%2C%20March%2021%2C%202023%20%2F,United%20Kingdom%20and%20throughout%20Europe.">March 2023</a>, Maven Clinic acquired fertility and maternity care provider Naytal for an undisclosed sum. The acquisition of London-based Naytal was carried out to support Maven’s geographical expansion into the UK and Europe. Post-acquisition, Naytal's founder and CEO joined Maven as the company’s regional vice president for global growth and partnerships. Additionally, several of Naytal’s UK-based women‘s healthcare providers were onboarded to Maven’s network of providers.In <a href="https://sp-edge.com/updates/28585">April 2024</a>, the company launched the Trying-To-Conceive (TTC) health coaching program for those who may find it difficult to get pregnant and choose not to utilize in vitro fertilization. The TTC health coaching program provided personalized support, education, and referrals to obstetric patients. As part of this expansion, Maven also added a range of specialist types to its reproductive urology provider network. Additionally, Maven expanded access to provider types for male fertility care with the aim of supporting male fertility with a comprehensive care team.As of <a href="https://sp-edge.com/updates/34545">October 2024</a>, the company was valued at USD 1.7 billion.Key customers and partnershipsThe company claimed that, as of <a href="https://www.mavenclinic.com/about">July 2024</a>, it covered 15 million lives.&nbsp;More recently, in <a href="https://sp-edge.com/updates/26640">February 2024</a>, Maven expanded its collaboration with telecommunications giant AT&amp;T to provide wider family-building and fertility support services to AT&amp;T employees.In <a href="https://www.businesswire.com/news/home/20240125435878/en/WellTheory-Launches-Autoimmune-Care-to-Maven-Clinic-Workforce">January 2024</a>, Maven Clinic partnered with WellTheory, a virtual care platform for autoimmune diseases. The partnership provided Maven Clinic employees with free access to WellTheory's platform.In <a href="https://www.fiercehealthcare.com/digital-health/maven-clinic-amazon-join-forces-offer-reproductive-care-amazon-employees#:~:text=Maven%20Clinic%20and%20Amazon%20are,than%201%20million%20eligible%20employees.">August 2023</a>, the company partnered with Amazon to provide access to Maven's healthcare services to Amazon's employees. Through the partnership, Amazon employees in 50 countries outside of the US and Canada were able to access all of Maven's specialists through its platform at no cost, as part of Amazon's family-building and support program. The partnership covered consultations with gynecologists, fertility doctors, adoption coaches, obstetricians, mental health providers, nutritionists, and other specialists who provide care across 35 languages. Employees also gained access to “Care Advocates,” who would virtually assist Amazon employees with navigating care in their regions.

Abridge is a Pittsburgh-based startup that develops GenAI tools for medical documentation. The company's core product is an AI-powered platform that converts patient-clinician conversations into structured clinical notes in real time. The technology integrates seamlessly with electronic health record systems, allowing clinicians to review and verify the AI-generated notes before finalizing them. Abridge's solution aims to reduce the administrative burden on healthcare providers, potentially saving them <a href="https://www.abridge.com/">70 hours per month</a> on documentation tasks. The platform supports <a href="https://www.abridge.com/">over 14 languages</a> and more than <a href="https://www.abridge.com/">50 medical specialties</a>.&nbsp;The company's technology is built on a proprietary data set derived from over 1.5 million medical encounters, and it employs advanced natural language processing and machine learning techniques to ensure accuracy and efficiency in clinical documentation.Key customers and partnershipsAs of <a href="https://www.fiercehealthcare.com/ai-and-machine-learning/abridge-clinches-150m-build-out-generative-ai-medical-documentation#:~:text=Around%205%2C000%20doctors%20currently%20use,Rao%2C%20a%20cardiologist%2C%20noted.">February 2024</a>, the company’s solution was being used by around 5,000 clinicians.Most recently in <a href="https://sp-edge.com/updates/34809">October 2024</a>, the company partnered with Wolters Kluwer Health to integrate UpToDate, a clinical decision support solution, into its platform. Through the partnership, Abridge's AI-generated clinical notes would include links to relevant evidence-based recommendations from UpToDate, providing clinicians with immediate access to the latest clinical information at the point of care.&nbsp;In <a href="https://www.reidhealth.org/press-releases/reid-health-chooses-abridge-generative-ai-solution-to-increase-access-to-care">August 2024</a>, Abridge partnered with Reid Health, a rural healthcare system, to implement AI-powered solutions across Reid's network. Through the partnership, Abridge's AI technology was integrated with Epic's workflow, automating clinical documentation in real-time. The partnership aimed to reduce clinicians' administrative burden, allowing Reid Health to focus more on patient care.In <a href="https://www.abridge.com/press-release/abridge-mayo-epic">July 2024</a>, the company partnered with health IT giant Epic and healthcare system Mayo Clinic to create a GenAI documentation platform. The partnership aimed to integrate Abridge's AI transcription and documentation tools into Epic's EHR workflow for Mayo Clinic's nurses. The GenAI tool utilized Abridge's technology to automatically transcribe and summarize conversations between nurses and patients while leveraging Epic's expertise in EHR integration and Mayo Clinic's knowledge of nursing practices.In <a href="https://www.abridge.com/press-release/uvm-health-network-announcement">June 2024</a>, Abridge partnered with The University of Vermont Health Network to improve clinician well-being. Through the partnership, Abridge's AI-powered platform was deployed across the university’s health network to generate clinical notes from patient-clinician conversations in real-time. The company noted that the enterprise-wide rollout would initially cover primary care and later expand to specialties like cardiology and endocrinology.In <a href="https://www.abridge.com/press-release/abridge-sutter-health">March 2024</a>, Abridge partnered with not-for-profit health system Sutter Health, to implement Abridge’s AI platform for clinical documentation across Sutter's network in California.

Simplifying healthcare administration with intuitive tech tools

Hospital Management

Abridge is a pioneering healthcare technology company that has developed an AI-powered platform to transform medical conversations into structured clinical notes in real-time. The company's proprietary technology leverages machine learning and natural language processing to accurately transcribe and summarize patient-clinician interactions, extracting key medical information and mapping it to relevant codes and ontologies.
Abridge's core offering is an enterprise-grade documentation solution that seamlessly integrates with electronic health record (EHR) systems like Epic. During a medical encounter, the platform records the conversation and generates a draft clinical note, capturing details such as the patient's medical history, diagnoses, treatments, and follow-up instructions. This automated process significantly reduces the administrative burden on healthcare providers, saving them an average of two hours per day on documentation tasks.
The company's technology has been extensively trained on a proprietary dataset derived from over 1.5 million medical encounters, enabling it to perform accurately across a wide range of specialties and support multiple languages. Abridge's platform includes a "Linked Evidence" feature that maps AI-generated summaries to the corresponding sections in the source transcript, allowing providers to quickly verify the accuracy of the information.
Since its founding in 2018, Abridge has rapidly gained traction among healthcare providers and systems. As of March 2024, the company's solutions were being used by around 5,000 doctors across various health systems.
In February 2024, Abridge announced a strategic partnership with Epic, enabling seamless integration of its generative AI for clinical documentation into Epic's EHR workflow. This collaboration has facilitated rapid deployments across multiple healthcare systems, with full implementation often achieved within two weeks.
Key customers and partnerships
Abridge has established notable partnerships with several leading healthcare organizations and technology companies, including:
- Sutter Health
- Yale New Haven Health System
- UCI Health
- Emory healthcare
- The University of Kansas Health System and UPMC
- Epic
- Nvidia

Redefining hospital care with the comfort of home

Hospital-at-Home

CareBridge is a value-based healthcare company founded in 2018 that provides services to Medicaid and dually eligible patients with physical, intellectual, and developmental disabilities who receive home and community-based services (HCBS). The company offers solutions including 24/7 clinical support, decision support, data aggregation, and electronic visit verification. CareBridge's 24/7 clinical support solution involves deploying tablets to high-risk individuals' homes, allowing patients, family members, and caregivers to contact CareBridge's interdisciplinary clinical team of physicians, nurses, pharmacists, and social workers via video visits at any time. The company also conducts regular assessments to ensure patients have the necessary resources and support to maximize their independence and safety at home. CareBridge's decision support product provides health plan care managers with recommendations on HCBS types and levels to help members achieve greater independence while managing costs. The company's electronic visit verification solution is compliant with the 21st Century Cures Act. As of June 2023, CareBridge served 84,000 HCBS members across 12 states and Washington, DC The company's interventions have been shown to reduce emergency room visits, hospitalizations, and total costs while improving clinical quality and independence. CareBridge takes financial risk for the total cost and quality of care for patients, aiming to ensure individuals receive appropriate services at home to prevent unnecessary hospitalizations and ER visits.
Key customers and partnerships
CareBridge partners with managed Medicaid and DSNP plans, including four of the nation's five largest managed Medicaid plans: Optum Ventures, CVS Ventures, Anthem Inc., and HLM Venture Partners (on behalf of Centene Corp.). These organizations collectively serve nearly 60% of all Americans receiving home and community-based services. CareBridge had expanded its services to approximately 115,000 patients across 13 states and the District of Columbia. The company collaborates with home care and home health companies that utilize CareBridge's electronic visit verification and session-data tools.

Thyme Care is a healthcare company that provides oncology care management services. The company offers a patient- and provider-integrated oncology solution, partnering with health plans to facilitate whole-person care for their members. Thyme Care seeks to revolutionize cancer care by providing personalized and holistic support to patients. The company envisions a future where every cancer patient can access high-quality, individualized care that meets their unique needs and circumstances.

Hopscotch Primary Care is a healthcare company that aims to transform healthcare for rural communities across the country.

Wayspring is a value-based healthcare organization that provides medical, behavioral health, and social support services to people with complex needs. With a focus on people living with substance use disorder, Wayspring utilizes a comprehensive and longitudinal model that incorporates targeted member outreach, strategic provider partnerships, community-based peer support, and delivery of clinical services. Through this unique approach, Wayspring produces increased adherence to evidence-based medicine, decreased healthcare waste, and improved health outcomes.

Abridge is a medical conversation AI startup that offers an audio-based system to record and summarize medical conversations. It was created for everyone, with a mission to help better understand their health conversations, whether at home or in the hospital.

Vytyl Health Management delivers quality mental health care to adolescents and transitional-age youth. The organization firmly believes that connection forms the basis for healing. They recognize the significant challenges ahead but remain steadfast in their conviction that through collaborative efforts, barriers can be overcome, meaningful bonds can be formed, and vital assistance can be extended to those in greatest need.

WellBe Senior Medical committed to providing personal, Complete Care at home or patients are, WellBe Senior Medical care team works together with patients, caregivers, and physicians to nurture all aspects of health.

Waymark is a company dedicated to improving access and quality of care for people receiving Medicaid.

Amalgam Rx is the leader in bringing providers, life sciences, and digital solutions together. For more than 15 years, our team has been reimagining care delivery and creating lasting change across the chronic care ecosystem. Working in partnership with many of the world’s leading life sciences companies, Amalgam Rx has built an innovative platform for rapidly developing and scaling digital solutions — delivered through a wide variety of business models. Our proven end-to-end methodology enables the entire life cycle from R&D to commercialization. Amalgam’s solutions have generated more than 5 billion RWE data points utilized by patients and providers on three continents. For more information on how Amalgam Rx’s regulated, clinically validated technologies bring patients and providers closer together, reduce costs for payers, and unlock sustained value for partners, visit amalgamrx.com.

Cortica is an Israeli company founded in 2007 with leading AI technology for visual perception. Its unique self-learning technology, backed by more than 200 patents, allows Cortica to develop multiple products that can read and understand images on a human level­–thereby significantly exceeding the capabilities of the major tech companies.   Cortica is the first AI company capable of human-level image understanding. Even the most advanced technology has never been able to understand the visual world as well as people do - until now. By leveraging proprietary brain research to create unsupervised AI, Cortica has developed the most effective computer vision system.   This technology, based upon the mammal cortex is utilized to build products impacting many industries. The company’s mission is to lead the emerging AI market with a strong focus on computer vision and establish its ''universal visual index of the world'' as the global standard­­–enabling machines to read and understand images. Cortica's vision is to embed its capabilities in all next-generation platforms where understanding images is a critical task. This includes autonomous vehicles, smart city applications, security cameras, drones, media, robotics, and medical image analysis. Cortica's headquarters and R&D center are based in Israel employing over 80 leading AI researchers and veterans of elite Israeli military intelligence units.

Cortica provides diagnoses for autism, ADHD, developmental delays, and developmental differences. They offer in-home, in-clinic, and telehealth services. Their services include gene sequencing, metabolic testing, electroencephalography, nutrition evaluation, medication management, ABA therapy, parent coaching, speech-language therapy, occupational therapy, physical therapy, music therapy, and more.

Strive Health is a built-for-purpose company working with innovative payers and providers to transform kidney care. Strive Health significantly improves patient outcomes and experience with a high-touch, technology-enabled clinical model that cares for chronic kidney disease patients across their entire healthcare journey, from primary care-level engagement through dialysis. Strive was launched out of Oxeon’s Venture Studio and is backed by New Enterprise Associates, Town Hall Ventures, Echo Health Ventures, and Ascension Ventures.

Thrive Health Tech is a healthcare-focused mobile company.

Oshi Health is a virtual-first gastroenterology (GI) clinic that diagnoses, treats and remotely monitors digestive (GI) conditions. Patients work with Oshi Health's integrated care team of gastroenterologists and GI-specialized nurse practitioners, registered dietitians, behavioral psychologists and health coaches to determine the root causes of their symptoms and use a personalized care plan that includes medication, dietary interventions and gut-brain behavioral therapy to get symptoms under control.

Carbon Health is a tech-enabled healthcare company that delivers virtual care experience. It offers primary care services through a mobile application that enables users to follow up on a treatment plan, manage prescriptions, and see lab reports all through one app. Carbon Health has created a coronavirus assessment tool and also set up covid-19 testing in California. The company was founded in 2015 and is headquartered in San Francisco, California.

Maven Clinic operates an on-demand digital care clinic that assists mothers and families during conception, throughout pregnancy, and postpartum. It offers video appointments and private messaging with its proprietary women's and family health practitioner network, as well as a family benefits platform.  Maven Clinic offers its services for IVF and egg-freezing tracks, pregnancy, postpartum, partner, adoption, surrogacy, and loss tracks, and career coaching and support, and customized manager training for HR. It serves individuals, employers, and healthcare professionals.  It was founded in 2014 by Katherine Ryder and is headquartered in New York City.

Redesign Health is a company that powers innovation in healthcare by developing technologies, tools, and insights that lower the barriers to change across the industry.  Since 2018, exceptional founders have built over two dozen companies at Redesign Health, impacting more than ten million lives across many aspects of the healthcare ecosystem including cancer care, teleradiology, COVID-19 testing, metabolic health, and more.

CareBridge exists to improve the lives of individuals who live with physical, intellectual, or developmental disabilities and receive home and community-based services. Founded in 2018 by Brad Smith and headquartered in Nashville, Tennessee, CareBridge focuses on providing 24/7 clinical support to patients, their family members, and their paid caregivers while helping to ensure that members receive the services, equipment, and support they need to live at home and remain independent. CareBridge exclusively serves patients on Medicaid or patients dually eligible for Medicare and Medicaid.

Workit Health is the industry-leading provider of clinically proven telemedicine treatment for substance use disorder, offering online therapy, medication-assisted treatment, psychiatric support, and primary care via the Workit Health mobile app. Workit brings the gold standard of substance use treatment into the privacy of people’s homes at the moment they’re ready for help, allowing people to find long-term freedom from drugs and alcohol with minimal disruption to their daily life.

CVS Health Ventures is a dedicated corporate venture capital fund that invests in and partners with high-potential, early-stage companies that strive to make health care more accessible, affordable, and better.

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