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Non-Profit Foundation
FINANCIAL | Investment Firms & Funds
westhealth.org

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Investments

20

Portfolio Exits

5

Partners & Customers

2

About West Health Investment Fund

The West Health Investment Fund invests in companies that are developing health care technologies or services that have the potential to substantially lower the cost of health care delivery. The Fund targets early stage opportunities with a strong preference for pre-commercial and early commercial companies. Preferred investment candidates will value strategic partnership in addition to investment capital.

West Health Investment Fund Headquarter Location

10350 North Torrey Pines Road

La Jolla, California, 92037,

United States

858-535-7000

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Latest West Health Investment Fund News

Change Healthcare Closes Series C with Support from BlueCross BlueShield Venture Partners and Sandbox Industries

Mar 6, 2020

Jan 17, 2012 9:10am BlueCross BlueShield Venture Partners Adds to Change Healthcare’s Series C Financing BRENTWOOD, Tenn.--( BUSINESS WIRE )-- Healthcare cost transparency company Change Healthcare Corporation today announced the second closing of its Series C round of funding with investment from BlueCross BlueShield Venture Partners (BCBSVP) and Sandbox Industries. Mitsui & Co. Global Investment, Inc. (MGI) along with the West Health Investment Fund, LLC, and existing investor, Solidus Co., invested in an initial Series C closing in September 2011. In total, the Series C investment of $9.3 million exceeds the Company’s initial fundraising goals. BCBSVP is a corporate venture fund sponsored by the Blue Cross and Blue Shield Association and a group of 24 independent Blue Cross and Blue Shield companies. BCBSVP and Sandbox Industries partner to invest in promising emerging companies of strategic relevance to Blue Cross and Blue Shield companies. “BCBSVP seeks to identify the technologies that will be critical to the future of the healthcare industry – for providers, employers, payers and consumers,” said Drew Turitz, Managing Director, Sandbox Industries. “Change Healthcare Corporation is the best company we’ve seen that offers true cost transparency in a way that engages members and drives savings for both consumers and plan sponsors.” MGI and the West Health Investment Fund, LLC also recognized the growing need for effective healthcare cost transparency tools. David Ekizian, MGI Investment Partner, added, “We believe Change Healthcare Corporation has refined its product offering to ensure that plan sponsors have a flexible, robust transparency tool allowing their members to garner the best value when selecting quality healthcare services.” Mohit Kaushal, Co-Manager of the West Health Investment Fund, added, "The West Health Investment Fund is committed to accelerating an ecosystem that focuses on solving the rising healthcare cost problem. Creating an efficient marketplace is pivotal to that, and we are excited to be partnering with Change Healthcare to help solve this critical challenge." With the close of the Series C, the Company will use the proceeds to support its growing book of business and continue to enhance its market-leading cost transparency tool, Transparency Messenger ™. Driven by a philosophy grounded in the use of data to drive sustainable member engagement, Transparency Messenger delivers engagement rates of nearly 50 percent at the individual user level and has proven to be more effective than other online healthcare tools and portals. “The investors in our Series C round all have a proven history of helping grow the most creative companies in the healthcare space,” said Howard McLure, Chairman and CEO, Change Healthcare Corporation. “With cost at the top of the healthcare industry’s agenda, and as we move to new collaborative models of care – where providers and payers work together to empower patients to become informed healthcare consumers – we believe our cost transparency solution will become a critical component to lowering healthcare costs in this country.” About Change Healthcare Change Healthcare Corporation ( www.changehealthcare.com ) launched in 2007 with a mission to engage consumers in obtaining personalized and actionable cost-savings information that changes the way they purchase healthcare services. Built on a database of medical, dental and pharmacy claims from a national client base, Change Healthcare delivers substantial savings to health plan members and employers in all 50 states. With an average engagement rate of nearly 50 percent, the Company’s web-based solution, Transparency MessengerTM, is the only tool able to generate and proactively communicate immediate savings opportunities customized to the employee, their plan and local area. CONTACT:

West Health Investment Fund Investments

20 Investments

West Health Investment Fund has made 20 investments. Their latest investment was in GlySens as part of their Series D on January 1, 2016.

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West Health Investment Fund Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

1/4/2016

Series D

GlySens

$20M

No

3

3/18/2015

Series C - III

Svelte Medical Systems

$16M

No

7

1/7/2015

Series C

goBalto

$12.11M

No

2

1/5/2015

Series C

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$99M

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10

3/27/2014

Series A

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$99M

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10

Date

1/4/2016

3/18/2015

1/7/2015

1/5/2015

3/27/2014

Round

Series D

Series C - III

Series C

Series C

Series A

Company

GlySens

Svelte Medical Systems

goBalto

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Amount

$20M

$16M

$12.11M

$99M

$99M

New?

No

No

No

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Co-Investors

Sources

3

7

2

10

10

West Health Investment Fund Portfolio Exits

5 Portfolio Exits

West Health Investment Fund has 5 portfolio exits. Their latest portfolio exit was goBalto on October 17, 2018.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

10/17/2018

Acquired

7

00/00/0000

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10

00/00/0000

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10

00/00/0000

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$991

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10

00/00/0000

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10

Date

10/17/2018

00/00/0000

00/00/0000

00/00/0000

00/00/0000

Exit

Acquired

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Companies

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Valuation

$991

Acquirer

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Sources

7

10

10

10

10

West Health Investment Fund Partners & Customers

2 Partners and customers

West Health Investment Fund has 2 strategic partners and customers. West Health Investment Fund recently partnered with Dartmouth-Hitchcock on October 10, 2019.

Date

Type

Business Partner

Country

News Snippet

Sources

10/23/2019

Partner

Dartmouth-Hitchcock

United States

Dartmouth-Hitchcock Health, West Health Partner to Create Nation's First Rural Geriatric Emergency...

Dartmouth-Hitchcock Health will partner with West Health -- a family of nonprofit and nonpartisan organizations dedicated to lowering health care costs to enable seniors to successfully age in place -- in a $ 4.5 million research collaboration to create an innovative `` Geriatric Emergency Department '' .

4

8/20/2014

Partner

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10

Date

10/23/2019

8/20/2014

Type

Partner

Partner

Business Partner

Dartmouth-Hitchcock

Country

United States

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News Snippet

Dartmouth-Hitchcock Health, West Health Partner to Create Nation's First Rural Geriatric Emergency...

Dartmouth-Hitchcock Health will partner with West Health -- a family of nonprofit and nonpartisan organizations dedicated to lowering health care costs to enable seniors to successfully age in place -- in a $ 4.5 million research collaboration to create an innovative `` Geriatric Emergency Department '' .

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Sources

4

10

West Health Investment Fund Team

3 Team Members

West Health Investment Fund has 3 team members, including current Chief Executive Officer, Nicholas J. Valeriani.

Name

Work History

Title

Status

Nicholas J. Valeriani

Chief Executive Officer

Current

Mohit Kaushal

Brookings Institution, Federal Communications Commission, and White House

Executive Vice President

Former

George Zamanakos

Senior Vice President

Former

Name

Nicholas J. Valeriani

Mohit Kaushal

George Zamanakos

Work History

Brookings Institution, Federal Communications Commission, and White House

Title

Chief Executive Officer

Executive Vice President

Senior Vice President

Status

Current

Former

Former

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