Former HHS, athenahealth leaders raise $360M to sell MA plans

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Waltham, Mass.-based Devoted Health, a startup created by former athenahealth executives and Obama administration officials, has raised $360 million in venture capital to begin selling private Medicare Advantage plans to U.S. senior citizens, Bloomberg reports.

Devoted Health will start selling the plans, which serve as a private-sector alternative to traditional Medicare, in Florida before expanding nationwide.

The company plans to leverage homegrown technology, including a 24-hour call center and automated care alerts that notify a member's physician when something goes wrong, to foster a more coordinated healthcare experience.

This latest funding effort, a series B investment round, was led by venture firm Andreessen Horowitz.

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