NASHVILLE, Tenn.--(BUSINESS WIRE)--A leading team of healthcare service and technology operators today announced the launch of CareBridge, a new company aimed at improving care for individuals receiving long-term support services (LTSS). CareBridge was formed in part through the acquisition of HealthStar and Sinq Technologies, two companies that provide LTSS-related technology solutions. CareBridge is backed by more than $40 million in funding led by Oak HC/FT, with participation from GV and several other strategic investors.
“Over half of the dual eligible individuals in the country receive long-term support services,” said former U.S. Senator Bill Frist, Chairman of CareBridge’s Board of Directors. “CareBridge offers a unique opportunity to significantly improve care for this vulnerable population, which is only going to grow as baby boomers continue to age.”
CareBridge’s services will include:
- Electronic Visit Verification (EVV) & Data Aggregation: Building on the capabilities of HealthStar and Sinq, CareBridge will offer industry-leading EVV and data aggregation services. CareBridge’s services will not only meet all requirements of the 21st Century Cures Act, which requires states to implement EVV for certain Medicaid-funded in-home services but will also include detailed, real-time sharing of clinical information between members, caregivers, health plans and state officials.
- 24/7 Member Support: For members at high-risk of hospitalization, CareBridge will offer 24/7 support. This support will include the deployment of tablets to members’ homes, daily check-ins with members and caregivers and 24/7 support from an interdisciplinary team of community health workers and clinicians.
- Decision Support: CareBridge is building the nation’s first predictive model for determining the amount of home and community-based services that each LTSS member who is living at home needs to maximize their independence and clinical outcomes. CareBridge’s decision support tools help ensure that individuals always receive the level of support they need and deserve.
“CareBridge is bringing a unique approach to the long-term services and supports space,” said Dr. Tunde Sotunde MD, Anthem’s President of Medicaid. “By combining EVV and data aggregation technology with more comprehensive member and decision support services, CareBridge will allow states and health plans to deliver whole-person health solutions for their LTSS members in a more effective manner, helping improve health and well-being.”
“No other company in the country is developing such a broad array of services for LTSS members,” said Keith Payet, CEO of United Healthcare Tennessee. “By providing such comprehensive services, CareBridge has the opportunity to meaningfully increase the quality of care for LTSS members across the United States.”
CareBridge’s initial acquisitions include HealthStar, an electronic visit verification company based in Knoxville, Tennessee, and Sinq Technologies, a data aggregation and value-based payment company based in Chicago.
CareBridge’s management team will include:
- Mike Tudeen (Chief Executive Officer): Mike previously served as CEO of PopHealthcare, a risk-adjustment and complex care company that sold to Guidewell in 2017, and CEO of INSPIRIS, an in-home complex care company that sold to Optum in 2011.
- Shubash Singh (Chief Product Officer): Shubash has helped implement nine new Managed Long-Term Services and Supports (MLTSS) and/or Medicaid programs across the country for a number of health plans including Centene, United Healthcare, Humana and Aetna.
- Dr. Melinda Henderson (Chief Medical Officer): Dr. Henderson most recently served as the Chief Medical Officer of PopHealthCare and previously served as the lead Medical Director for United’s LTSS program in Tennessee as well as on United’s national LTSS clinical team.
- Diane Seloff (Chief Integration Officer): Diane previously served as Chief Operating Officer of Aspire Health and will oversee the integration of CareBridge’s acquired companies.
- Todd Leri (Chief Growth Officer): Todd most recently served as Senior Vice President of Business Development at Remedy Partners, where he led the organization’s risk partnerships.
“I am honored to have the opportunity to lead such a talented group of proven leaders to help improve care for LTSS members across the country,” said Mike Tudeen, CEO of CareBridge. “By taking a patient-centered approach to LTSS services, we believe we can significantly improve the quality of care individuals receive while also meaningfully reducing total cost.”
“We are proud to back this world-class team and work alongside them to launch CareBridge to improve care while lowering costs for a vulnerable population, an important mission to us at Oak HC/FT,” said Annie Lamont, Co-Founder & Managing Partner of Oak HC/FT. “Health plans and states looking to better care for individuals receiving LTSS will continue to turn to CareBridge, as no one else is providing such innovative and comprehensive solutions.”
In addition to Bill Frist, CareBridge’s Board of Directors includes Annie Lamont, Clay Richards (Founder & CEO, naviHealth), David Baiada (CEO, BAYADA Home Care) and Tudeen. Additional investors in CareBridge include various members of the management team, multiple strategic partners, Clay Richards, McArthur VanOsdale (Co-Founder, myNEXUS), J.R. Greene (CEO, Psychiatric Medical Care) and Nat Turner (Founder & CEO, FlatIron).
Both CareBridge’s recent financing and acquisitions were supported by Tyson Bickley, Partner at Waller.
About CareBridge
CareBridge is a provider of technology and services that assists health plans and states in caring for individuals receiving long-term support services. CareBridge’s services include electronic visit verification (EVV), data aggregation, 24/7 member support and benefit management. CareBridge was founded through the acquisition of HealthStar and Sinq Technologies and is led by a team of proven healthcare service and technology operators. CareBridge is backed by more than $40 million in funding from Oak HC/FT, GV, and multiple strategic investors. For more information, please visit www.carebridgehealth.com.