(Updated at 1:39 p.m. ET)
A new venture capital firm co-led by former CMS Administrator Andy Slavitt will seek to invest in healthcare technology and service companies that deliver innovative care to low-income, high-needs populations.
New venture capital firm to focus on companies serving poor, high-needs patients
Andy Slavitt
Town Hall Ventures will focus on building companies that provide higher-quality and lower-cost care for poor, underserved communities, particularly involving Medicare, Medicaid, risk-based care, complex care and the social determinants of health. Its leaders see a big opportunity to improve care for the 120 million people in Medicare and Medicaid through innovations such as better models for delivering care at home or in other comfortable and low-cost settings.
"We are completely underinvested in primary care, mental health, care for pregnant moms, the frail elderly and people with chronic conditions, particularly people of color," Slavitt said. "There are mission-driven entrepreneurs out there aiming to address these challenges, but investors tend not to see them. Instead, they tend to see bright shiny objects like wearable devices."
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