Lowenstein Sandler represented Centivo, an innovative provider of health plans for self-insured employers built to address health care affordability for employees and their families, in a $30 million Series B-1 Extension financing round led by Morgan Health. Morgan Health is the JPMorgan Chase & Co. (NYSE: JPM) business unit focused on improving the quality, equity and affordability of employer-sponsored health care.
This extension will support Centivo’s rapid growth and expansion amid increased demand from employers and employees.
Centivo’s model is anchored around relationships with leading accountable care providers with a proven track record of delivering high-quality, cost-effective care. Centivo works to align incentives between these providers and self-funded employers through timely access to care, affordable and predictable costs and outcomes-based compensation for providers tied to quality and cost-effectiveness. Through this approach, employers can typically offer health benefit plan options that include free adult and pediatric primary care for all visits, no deductibles, predictable copays for all non-primary care, enhanced patient access and integrated virtual primary care.
Centivo members report high levels of satisfaction with overall affordability, cost predictability and care coordination. Launched in 2019, Centivo has continued to expand its reach among self-insured employers and now has a market presence in 13 states. The company’s growing roster of clients include employers with as few as 51 employees as well as numerous Fortune 500 companies.
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