How the chief of Cigna's $250 million fund judges healthcare founders - Business Insider

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The man behind Cigna's $250 million venture fund shares his 3-part checklist for evaluating the founders of healthcare startups

Become an InsiderTom Richards, head of Cigna's global business development, shared his criteria for healthcare bets with Business Insider.

Richards has led the health plan's strategy and M&A since 2013, according to his LinkedIn, though Cigna Ventures recently launched in 2018. Over the years, he's developed a checklist for evaluating companies, including their founders and leadership teams. . It's often a customer to the startups it bets on. A longtime investor of symptom checker Buoy Health, for example, Cigna also makes many of its tools available to members. The same goes for Contessa, which does at-home hospital care, and Recovery One, which tackles physical therapy online, he said.See the presentation that convinced 3 competing health plans to invest in Buoy Health's tool for ending Dr.

 

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