Strategic Investors Partnering to Accelerate Healthcare Platforms

Cobalt Ventures is the captive private equity subsidiary of Blue Cross and Blue Shield of Kansas City. With a sole focus in healthcare, we invest in high-growth companies with capabilities that can be scaled and leveraged nationally across the payer universe.

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Our Strategy and Approach

We forge strong partnerships with our management teams to develop successful strategies, accelerate growth, optimize cash flow, increase operational and financial efficiencies and develop roadmaps for long-term success.

Investment Attributes

  • We invest in companies that increase the overall quality of healthcare services, improve outcomes and lower costs for customers and members.
  • We target alternative, non-traditional healthcare settings for site of service.
  • We look for companies that demonstrate consistent, recurring growth and cash flow generation, and are well positioned to generate long-term value.

Healthcare Sectors

  • Home Health and Hospice Care
  • Outpatient Provider Care, including Radiology and ASCs
  • Telehealth
  • Specialty and Generic Pharmaceutical Distribution
  • Tech-Enabled Healthcare Services

Size and Structure

  • Our typical investment size ranges from $10-$75 million.
  • We are long-term strategic investors with typical hold periods of 5-10 years.
  • We have the flexibility to structure transactions with meaningful minority or majority control positions, and typically require governance participation rights.
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Our Platform

We are a well-capitalized, strategic-backed investor with unique access to the largest payer network in the United States. Our partnership-centric approach capitalizes on these payer relationships to leverage several significant advantages, including:

  • Verifying need and use cases for every investment with a high degree of certainty.
  • Accessing significant insight across all centers of expertise within the payer model.
  • Identifying value-creating financial and operational opportunities prior to acquisition.
  • Working with management to establish detailed, post-acquisition operating plans.
  • Preserving legacy and culture of organizations, and supporting incumbent management teams to accelerate growth.
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Our Portfolio

Bardavon

Bardavon is a cloud-based, clinical intelligence and analytics company focused on improving musculoskeletal patient outcomes in both the workers’ compensation and commercial healthcare arena. Bardavon’s systems operate and collect data in near real-time to measure provider performance and optimize utilization for each patient, regardless of the case’s needs or complexity.

Cobalt MedPlans

Cobalt MedPlans is a business process outsourcing partner with core competencies in high-end claims administration and call center services in the national healthcare market.

CompAlliance

CompAlliance is a workers’ compensation managed care organization, primarily providing telephonic and field-based nurse case management. CompAlliance also offers a rental network across four Midwestern states, bill review services, virtual case management software.

MEDVAL

MEDVAL is an attorney-based national Medicare compliance services company specializing in collaborative settlement solutions. MEDVAL provides Medicare Set-Aside (MSA) reports and related services, structured settlements, Medicare conditional payment services, Mandatory Insurer Reporting and other compliance and lien-related services involving Medicaid, Medicare Advantage and Veterans Administration cases.

New Directions Behavioral Health

New Directions provides managed behavioral health services, employee assistance programs, health coaching and performance solutions to healthcare plans nationally.

Preferred Health Professionals

Preferred Health Professionals is a comprehensive PPO network for self-funded employers in Missouri and Kansas. The premier product, Freedom Network Select, spans 48 counties in Kansas and Missouri.

RX Savings Solutions

Rx Savings Solutions is an innovative software company focused on pharmaceutical drug cost containment for employers, employees and payers.

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Our Team

Our team of highly proficient, experienced executives possesses significant operational, entrepreneurial and financial expertise across different sectors and geographies. We are deeply committed to forging strong partnerships to drive significant growth and long-term success for our investments.

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Contact Us

4900 Main Street, Suite 620
Kansas City, MO 64112
Office: 816.823.6737