JPMorgan's business arm takes stake in health care provider Centivo

Jul. 19, 2022 10:58 AM ETJPMorgan Chase & Co. (JPM)By: Max Gottlich, SA News Editor

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  • Morgan Health, a business unit owned by JPMorgan Chase (NYSE:JPM) focused on improving employer-sponsored health care, has invested $30M in Centivo, a provider of health plans for self-insured employers.
  • Centivo, launched in 2019, has a market presence in 13 states. Its clients include self-insured employers with as little as 51 employees as well as a number of Fortune 500 firms.
  • Morgan Health’s investment, which is part of an extended Series B-1 financing, will support Centivo’s overall expansion and "help accelerate Centivo’s efforts so more Americans with employer-sponsored insurance can benefit from affordable, high-quality primary and accountable care,” said Morgan Health CEO Dan Mendelson.
  • The move comes after Morgan Health took stakes in a slew of developing accountable care models to expand those offerings for its U.S.-based employees and dependents. Last year, it made a $50M investment in Vera Whole Health, which offers patients coordinated care and an enhanced primary care experience.
  • In May 2021, JPMorgan Chase formed Morgan Health to improve U.S. health care.

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