Two Blue Cross and Blue Shield plans and WellPoint announced they bought stakes in Bloom Health, a health benefit consulting company and online market for health plans.
Blues plans buy into online market Bloom Health
Terms of the deal, under which each Blues plan holds an equal stake in the Minneapolis company, were not disclosed. Combined, the insurers hold a majority stake with Bloom Health founders as the remaining investors, a WellPoint spokeswoman said by e-mail. The other Blues plans investors are: Blue Cross and Blue Shield of Michigan and Health Care Service Corp., which operates Blues plans in Illinois, New Mexico, Oklahoma and Texas.
Bloom Health said in a regulatory filing the company sold $7.5 million in securities to three investors last December. Previously, the Blue Cross and Blue Shield Venture Partners and Sandbox Industries, a Chicago venture capital company, poured $5 million into Bloom Health. BCBS Ventures and Sandbox share one executive, Paul Brown.
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