Change Healthcare, which has continued to raise significant money to cement its place in the health care cost transparency sector, will officially announce Tuesday that it has closed a $9.3 million series C funding round backed by an insurance heavyweight and a handful of other investors.
Late last Friday, the company filed a form D with the Securities and Exchange Commission outlining the funding. Among the investors are insurance giant BlueCross BlueShield Venture Partners along with Sandbox Industries, Mitsui & Co. Global Investment, the West Health Investment Fund and existing investor Solidus Co.
According to the company, "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."
"The investors in our Series C round all have a proven history of helping grow the most creative companies in the health care space,” said Howard McLure, chairman and CEO of Change Healthcare. “With cost at the top of the health care 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."
Full disclosure: Solidus LLC, which participated in the funding round, is also an investor in NashvillePost.com parent company SouthComm.