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CareBridge Launches to Improve Care for Individuals Receiving Long-Term Support Services

January 13, 2020 GMT

NASHVILLE, Tenn.--(BUSINESS WIRE)--Jan 13, 2020--

A leading team of healthcare service and technology operators today announced the launch of CareBridge, a new company aimed at improving care for individuals receiving long-term support services (LTSS). CareBridge was formed in part through the acquisition of HealthStar and Sinq Technologies, two companies that provide LTSS-related technology solutions. CareBridge is backed by more than $40 million in funding led by Oak HC/FT, with participation from GV and several other strategic investors.

“Over half of the dual eligible individuals in the country receive long-term support services,” said former U.S. Senator Bill Frist, Chairman of CareBridge’s Board of Directors. “CareBridge offers a unique opportunity to significantly improve care for this vulnerable population, which is only going to grow as baby boomers continue to age.”

CareBridge’s services will include:

“CareBridge is bringing a unique approach to the long-term services and supports space,” said Dr. Tunde Sotunde MD, Anthem’s President of Medicaid. “By combining EVV and data aggregation technology with more comprehensive member and decision support services, CareBridge will allow states and health plans to deliver whole-person health solutions for their LTSS members in a more effective manner, helping improve health and well-being.”

“No other company in the country is developing such a broad array of services for LTSS members,” said Keith Payet, CEO of United Healthcare Tennessee. “By providing such comprehensive services, CareBridge has the opportunity to meaningfully increase the quality of care for LTSS members across the United States.”

CareBridge’s initial acquisitions include HealthStar, an electronic visit verification company based in Knoxville, Tennessee, and Sinq Technologies, a data aggregation and value-based payment company based in Chicago.

CareBridge’s management team will include:

“I am honored to have the opportunity to lead such a talented group of proven leaders to help improve care for LTSS members across the country,” said Mike Tudeen, CEO of CareBridge. “By taking a patient-centered approach to LTSS services, we believe we can significantly improve the quality of care individuals receive while also meaningfully reducing total cost.”

“We are proud to back this world-class team and work alongside them to launch CareBridge to improve care while lowering costs for a vulnerable population, an important mission to us at Oak HC/FT,” said Annie Lamont, Co-Founder & Managing Partner of Oak HC/FT. “Health plans and states looking to better care for individuals receiving LTSS will continue to turn to CareBridge, as no one else is providing such innovative and comprehensive solutions.”

In addition to Bill Frist, CareBridge’s Board of Directors includes Annie Lamont, Clay Richards (Founder & CEO, naviHealth), David Baiada (CEO, BAYADA Home Care) and Tudeen. Additional investors in CareBridge include various members of the management team, multiple strategic partners, Clay Richards, McArthur VanOsdale (Co-Founder, myNEXUS), J.R. Greene (CEO, Psychiatric Medical Care) and Nat Turner (Founder & CEO, FlatIron).

Both CareBridge’s recent financing and acquisitions were supported by Tyson Bickley, Partner at Waller.

About CareBridge

CareBridge is a provider of technology and services that assists health plans and states in caring for individuals receiving long-term support services. CareBridge’s services include electronic visit verification (EVV), data aggregation, 24/7 member support and benefit management. CareBridge was founded through the acquisition of HealthStar and Sinq Technologies and is led by a team of proven healthcare service and technology operators. CareBridge is backed by more than $40 million in funding from Oak HC/FT, GV, and multiple strategic investors. For more information, please visit www.carebridgehealth.com.

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CONTACT: Clint Brewer (615) 668-4535

clint.brewer@stonesrivergroup.com

KEYWORD: TENNESSEE UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: MANAGED CARE FINANCE GENERAL HEALTH HEALTH BANKING DATA MANAGEMENT PROFESSIONAL SERVICES TECHNOLOGY

SOURCE: Oak HC/FT

Copyright Business Wire 2020.

PUB: 01/13/2020 04:58 PM/DISC: 01/13/2020 04:58 PM

http://www.businesswire.com/news/home/20200113005935/en