Durham, N.C.-based Mosaic Health Solutions and Portland, Ore.-based Cambia Health Solutions merged their capital investment arms to form a new healthcare investment company, Echo Health Ventures, headquartered in Seattle.
Rob Coppedge, the former president of strategic investment division at Cambia Health, will be CEO of the merged entity. Under terms of the deal, Cambia's outside investment arm, formerly known as Cambia Direct Health Solutions, will retain its wholly owned companies.
"The next great health care companies will personalize health care, reduce costs and focus on the consumer - not the enterprise," said Mr. Coppedge. "By leveraging the strength of Cambia and Mosaic, we are able to bring significant value to our portfolio companies. Whether they are early stage startups or well established growth companies, Echo will uniquely support getting their innovations to scale faster and more successfully across the multitrillion dollar health care market."