Anthem, K Health Create Digital Health Venture
Anthem, along with digital health startup K Health and Blackstone Growth, have launched a joint venture designed to help create innovative, digital-first healthcare solutions.
The new initiative, called Hydrogen Health, is also backed by an investment from Anthem, Inc. “and is an important step in seeking to help increase access to healthcare services and make healthcare more affordable for millions of people in the U.S.,” officials said in an April 14 announcement.
Specifics are somewhat unclear, but the press release noted that Hydrogen Health will seek to lower healthcare costs by leveraging K Heath’s artificial intelligence (AI) technology to bring digital-first healthcare to the employer and consumer markets. K Health is a digital health company that has created an AI-driven primary care solution enabling users to see how doctors diagnose and treat similar people with similar symptoms.
Hydrogen Health, officials say, will seek to develop new tech-driven solutions for direct-to-consumer, direct-to-employer, and direct-to-insurers markets; and give users access to the spectrum of care – digital, virtual, and in-person. These solutions could be integrated across different types of health coverage to achieve more affordable, high-quality care, they add.
Allon Bloch, CEO and co-founder of K Health, said in a statement, “K Health has proven that we can give people access to really high-quality medicine remotely. This partnership with Anthem and Blackstone will help get K Health’s solutions into the hands of those who need them most, expanding upon our existing base of 4 million users and reducing costs in the healthcare system to make it work for all.”
Amy Mulderry, senior vice president and chief development officer at Anthem added, “Our stakeholders expect us to find innovative solutions to increase access to high-quality care, enhance the healthcare experience, and help lower costs. As part of this approach, we focus on investments and partnerships like this one that leverage exponential technologies, such as artificial intelligence; revolutionize industries; and profoundly affect our lives. We look forward to working with K Health and Blackstone Growth to redefine the future of healthcare.”
The investment follows a multi-year effort between Anthem and K Health that leverages K Health’s technology and aims to reduce avoidable healthcare costs and improve health outcomes. Hydrogen Health is meant to expand that impact at a broader scale to more people.
Bloch will also serve as the CEO of Hydrogen Health. The agreement includes a put/call structure between Anthem and Blackstone. Financial terms of the joint venture are not being disclosed.
