News Briefs: JPMorgan Chase Takes $30 Million Position in Centivo

Morgan Health, JPMorgan Chase Co.’s health care venture arm, will invest $30 million in startup ERISA carrier Centivo Corp. The investment is part of Centivo’s Series B-1 financing round. Centivo’s strategy is based on value-based care arrangements with providers. A Morgan Health press release claimed that “among mid-size and large employers, Centivo’s typical client has saved 15 to 30 percent annually compared to traditional insurance models. In addition, members’ medical and pharmacy out-of-pocket cost has, on average, been reduced to less than $350 per person per year. These cost reductions have occurred all while increasing primary care utilization by more than 30 percent and strengthening quality through an advanced primary care-centered clinical model.” Centivo operates in 13 states. JPMorgan launched Morgan Health following the collapse of Haven, a health care joint venture with Amazon.com, Inc. and Berkshire Hathaway Inc.

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Peter Johnson

Peter Johnson

Peter has worked as a journalist since 2011 and has covered health care since 2020. At AIS Health, Peter covers trends in finance, business and policy that affect the health insurance and pharma sectors. For Health Plan Weekly, he covers all aspects of the U.S. health insurance sector, including employer-sponsored insurance, Medicaid managed care, Medicare Advantage and the Affordable Care Act individual marketplaces. In Radar on Drug Benefits, Peter covers the operations of (and conflicts between) pharmacy benefit managers and pharmaceutical manufacturers, with a particular focus on pricing dynamics and market access. Before joining AIS Health, Peter covered transportation, public safety and local government for various outlets in Seattle, his hometown and current place of residence. He graduated with a B.A. from Colby College.

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