Town Hall Ventures, a firm led by former Centers for Medicare & Medicaid Services Administrator Andy Slavitt, has closed its first fund at $115 million.
The fund and its partners represent multiple leading nonprofit health systems and payors, as well as entrepreneurs and executives. Town Hall was formed in May with a mission to direct millions of investment dollars to communities “that have long been ignored.”
The fund, according to a press release, brings four of the nation’s five largest nonprofit health systems and nonprofit health payors serving 23 million individuals in 42 states.
The firm focuses on building companies that improve Medicare, Medicaid and risk-based care, and on addressing complex conditions and social determinants of health.
“Solving problems for the most complex conditions and populations will require the greatest minds in healthcare to work together to build exceptional companies,” said Trevor Price, Town Hall’s general partner and CEO of Oxeon Partners. “We believe this represents a major turning point in shifting resources and innovation focused on populations that have long been ignored.”
Town Hall also announced new investments in Landmark Health LLC, providing home-based care to high-acuity Medicare, Medicaid, and dual-eligible populations; Bright Health Inc., a technology-enabled health insurance plan that is built in partnership with leading health systems; and Strive Health LLC, a provider of chronic kidney disease solutions, focused on transforming healthcare and patients’ lives through early engagement, comprehensive coordinated care, and expanded treatment options.
