Redesign Health, a healthcare startup creator, closed a $65 million Series C funding round.
The round, led by General Catalyst with support from CVS Health Ventures and UPMC Enterprises, the Pittsburgh-based health system’s venture capital arm, will fund talent and technology investments at Redesign.
Redesign Health has helped create and develop Calibrate, a weight loss startup and MedArrive, a home health startup. Samantha Lynch, Redesign Health’s head of strategy and finance, said specific areas of interest for Redesign are provider cost savings, along with improving patient access and quality of care.
Some of the companies deriving from Redesign remain stealth, but it has spun out more than 40 startups. Redesign said the new funding allows it to build and support dozens of businesses.
“The $65 million is coming into Redesign Health,” Lynch “We then aim to deepen our strategic partnerships with these folks by co-building companies off of the platform.”
In addition to the funding, New York-based Redesign said it would receive support from partners in developing business plans and technologies for companies it launches.
“By having scaled-relationships with payers, providers, systems at the Redesign Health platform we’re very informed with where those folks are interested in partnering with early-stage companies and where there is market demand,” Lynch said.
UPMC is partnering with Redesign on a company that remains in stealth. Brenton Burns, executive vice present of UPMC Enterprises declined to provide information on the provider’s specific capital contribution, but said multiple companies were in the pipeline.
“I don’t expect all of our companies to be successful that we work on together,” Burns said. “But I have seen how we work through problems together and challenges together.”
