Health systems back Centivo in $75M financing round

Centivo, a Buffalo, N.Y.-based health plan administrator for self-insured employers, has secured $75 million in equity and debt financing.

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Greensboro, N.C.-based Cone Health, Long Beach, Calif.-based MemorialCare Health System, and Morgan Health, the healthcare arm of JPMorgan Chase, are among the investors, according to a Sept. 24 news release.

Launched in 2019, Centivo has a market presence in 13 states. 

“Our next step is to expand the number of Americans who can finally have a health plan that they can afford to use and to make more heroes out of those employers who are restoring healthcare affordability in their workplaces,” CEO and co-founder Ashok Subramanian said.

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