7wireVentures is an early stage healthcare venture firm based in Chicago has closed a $100 million fund and formed a coalition with eight healthcare provider and plans dedicated to investing in companies that use technology to help consumers get and stay healthy. The coalition of leading healthcare service organizations include Allina Health, Arkansas BlueCross BlueShield, Bon Secours Health System, Cigna, Horizon Blue Cross Blue Shield of New Jersey, Memorial Hermann Health System, Rush University Medical Center and Spectrum Health.
Founded by former Allscripts CEO Glen Tullman and Lee Sharpiro, 7wire believes that mobile, connected platforms, the cloud, and sophisticated insights will improve the efficiency of the healthcare system and improve outcomes for all. Experts predict in the not-distant future, people may create their own health management ecosystems, as tech innovators empower consumers to control not just where they access health and wellness services but also how and from whom, and the price they pay. 7wireVentures is keenly focused on making this vision a reality, leading the way in building personalized, on-demand consumer health markets – sized conservatively at $1TN.
“Nearly twenty percent of the American economy is spent on healthcare, yet many of its core functions remain largely untouched by consumer-focused technology,” said Glen Tullman, co-founder and Managing Partner of 7wireVentures and CEO of Livongo Health. “The $100 millionConnected Consumer Health Fund, supported by top health plans and health systems which collectively serve more than 25 million consumers, will fuel entrepreneurs with ideas that improve the health of our society.”