You knew he would not stay fully retired for long — and to be fair, this is a chairman of the board of directors role, not an operating, hands on, position. [But we all know he has only one speed: full, ahead.] And anyone who has been paying attention here knows I admire just about everything about him. A great guy, and a stellar leader.
So, the new-ish health delivery via connected device company is very lucky to have him. And the team has about three years of fully-funded capital raised, as runway — to get it into the black. Here’s the scoop from Axios:
…Health care pathway architect Transcarent named former Merck CEO Kenneth Frazier chair of its board of directors….
[Frazier] sees the role as a means of helping restore people’s sense of trust and control in the medical system.
“I’ve spent a lot of time developing new medicines and vaccines,” Frazier tells Axios. “I also grew up in the inner city of Philadelphia, so I understand the last mile problem of not having access to care. There’s a lot of dignity involved when you feel you’re in charge, as opposed to having someone dictate it to you….”
Launched in summer 2021, Transcarent has raised just shy of $300 million, including the $200 million in Series C funds it collected in January 2022 led by Kinnevik and Human Capital….
Employer-facing Transcarent gives members round-the-clock access to clinicians via text and offers price comparison tools and quality assessments for medical interventions including surgeries…. The company pays clinicians including surgeons on the same day they provide care….
Well. That sounds promising, indeed.
To be certain, the competitors (Accolade, which in 2020 raised $192.5 million in a second public offering, and HealthJoy) include some deeper pockets, but the opportunity to make health care delivery a more customer focused endeavor in the US… is a vast one. Onward, and Kudos to Mr. Frazier! Have a great weekend, one and all….
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