BLOOMFIELD, Conn., Jan. 13, 2020 /PRNewswire/ -- Cigna
Ventures, a strategic corporate venture capital partner and wholly
owned indirect subsidiary of Cigna Corporation (NYSE: CI), today
announced it has invested in two breakthrough digital health
companies, Buoy Health and RecoveryOne, to advance Cigna's strategy
to deliver affordable, predictable and simple care anytime,
anywhere.
Buoy Health helps remove confusion and uncertainty for
consumers, ensuring they get the right care at the right time
through the use of artificial intelligence. Cigna Ventures
invested in Buoy Health as part of its $20
million Series B funding round. Cigna also led a recent
$12 million funding round in
RecoveryOne. RecoveryOne provides solutions for those suffering
with musculoskeletal conditions using digital tools and live
coaching.
"Cigna is squarely focused on bringing the highest value
solutions to our customers, which includes optimizing how they
connect to and receive quality care, in a convenient way that meets
their lifestyles," said Tom
Richards, global lead, strategy and business development at
Cigna. "Our deep partnerships with digital health companies like
Buoy Health and RecoveryOne accelerate how we deliver on that
promise. They, like us, are relentlessly pursuing bold new
opportunities to make health care anywhere and everywhere a reality
for our customers."
Buoy Health brings an unparalleled depth and breadth of
experience in leveraging artificial intelligence to facilitate
real-time, high-quality and personalized care recommendations based
on an individual's symptoms. Once a self-assessment is received,
Buoy Health's technology provides intelligent care recommendations
(e.g., virtual, in-person, emergency room visit) through an
omni-channel approach tied to the severity of symptoms and follows
up as necessary to help close gaps in care.
"Our capabilities, powered by advanced machine learning and
granular data, resemble exchanges an individual would have with a
clinician," said Dr. Andrew Le, CEO
and Co-Founder of Buoy Health. "Our first-step virtual option
greatly aligns with Cigna's focus on creating peace of mind –
improving diagnoses of symptoms from the moment individuals get
sick and helping facilitate more informed discussions with their
clinicians."
RecoveryOne combines the power of digital with the human
touch by connecting individuals to one of 180 evidence-based care
programs for musculoskeletal conditions (i.e., those impacting
the bones, joints, nerves and muscles). The solution covers the
whole person and can be accessed anytime, anywhere, on nearly any
device. With this approach, RecoveryOne addresses the significant
gap between actual and desired outcomes achieved through
traditional care.
"Musculoskeletal conditions are both common and costly," said
Mark Luck Olson, CEO of RecoveryOne.
"We are excited to work with Cigna, one of the largest and most
forward-thinking global health services companies, to leverage our
digital solutions in ways that will drive greater adherence,
accelerate recovery, improve productivity and reduce costs for
individuals."
These two partnerships are preceded by several other recent
announcements, including a lead investment in Arcadia, a population
health management company focused on improving value-based care; a
follow-on investment with Contessa Health, a market-leading
provider of hospital-at-home services; and a virtual behavioral
health launch with MDLIVE, a long-standing partner offering urgent
and behavioral virtual care to Cigna customers.
In addition to increasing virtual treatment for conditions like
anxiety, stress and depression through MDLIVE, Cigna recently
announced plans to expand its medical virtual care to include
primary care services, starting with virtual wellness screenings.
Beginning in the second quarter of 2020, Cigna intends to give
customers the option of conducting a wellness screening with a
primary care physician using video or phone. The screening would
include a review of biometric and lab results, such as blood
pressure and cholesterol, and a behavioral health assessment. As a
preventive care service, there would be no out-of-pocket costs for
the customer.
"We are proud to be the partner of choice for innovative
companies who share our commitment to bringing more health care
choices to customers and ensure they have access to effective,
convenient and cost-efficient solutions that treat their whole
person – mind and body," added Richards. "With these digital health
partnerships, we are expanding our reach and putting our approach
in the hands of even more customers across all geographies –
creating better health."
About Cigna Ventures
Cigna Ventures is a venture
capital fund that works closely with health care entrepreneurs to
accelerate growth and innovation through the strategic use of
capital and deep partnerships. Cigna Ventures is a wholly owned
indirect subsidiary of Cigna Corporation (NYSE: CI). To learn more
about Cigna Ventures visit: www.cignaventures.com.
About Cigna
Cigna Corporation (NYSE: CI) is a global
health service company dedicated to improving the health,
well-being and peace of mind of those we serve. Cigna delivers
choice, predictability, affordability and access to quality care
through integrated capabilities and connected, personalized
solutions that advance whole person health. All products and
services are provided exclusively by or through operating
subsidiaries of Cigna Corporation, including Cigna Health and Life
Insurance Company, Cigna Life Insurance Company of New York, Life Insurance Company of
North America, Express Scripts
companies or their affiliates. Such products and services include
an integrated suite of health services, such as medical, dental,
behavioral health, pharmacy, vision, supplemental benefits, and
other related products including group life, accident and
disability insurance.
Cigna maintains sales capability in over 30 countries and
jurisdictions, and has more than 165 million customer relationships
throughout the world. To learn more about Cigna®, including links
to follow us on Facebook or Twitter, visit www.cigna.com.
About Buoy Health
Buoy Health is a health technology
company that develops digital tools to help people from the moment
they get sick start their care on the right foot. Formed at the
Harvard Innovation Laboratory in Boston
MA, Buoy Health's team of doctors, product designers, and
software engineers developed its smart symptom checker, Buoy, in
direct response to the downward spiral we've all faced when we
attempt to self-diagnose our symptoms online. The technology behind
Buoy leverages artificial intelligence – powered by advanced
machine learning and proprietary granular data – to resemble an
exchange you would have with your favorite doctor – to provide
consumers with a real-time, accurate analysis of their symptoms and
to help them easily and quickly embark on the right path to getting
better. Buoy Health is based in Boston and was founded in 2014. For more
information, please visit www.buoyhealth.com.
About RecoveryOne
RecoveryOne (formerly Trainer Rx)
was founded in 2014 as a solution to the significant gap between
actual and desired outcomes achieved through conventional
approaches to recovery from musculoskeletal conditions. RecoveryOne
provides personalized programs that combine the convenience of
digital therapy and the support of live coaching to reduce costs,
accelerate recovery and drive patient satisfaction. For more
information, visit www.recoveryone.com.
Media Contact:
Jennifer
Luddy
201-269-6402
jennifer_luddy@express-scripts.com
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SOURCE Cigna