Cigna is launching a venture fund that will be dedicated to investing in companies with innovative and transformative plans for healthcare.
The company announced its Cigna Ventures initiative on Wednesday, Sept. 12, and has already dedicated $250 million toward the venture fund.
According to a statement, the fund will invest in startups and growth-stage companies that are looking for “new growth possibilities in healthcare and will bring improved care quality, affordability, choice and greater simplicity to customers and clients.” It also said it will focus on companies in three strategic areas: insights and analytics, digital health and retail and care delivery/management.
“Cigna’s commitment to improving the health, well-being and sense of security of the people we serve is at the front and center of everything we do,” Tom Richards, senior vice president and global lead, strategy and business development at Cigna, said in the statement. “The venture fund will enable us to drive innovation beyond our existing core business operations, and incubate new ideas, opportunities and relationships that have the potential for long-term business growth and to help our customers.”