Mysterious MN Tech Startup Solarte Health Raising $6.5m

logo_blackA mysterious Minnesota health tech startup called Solarte Health is raising $6,500,000 with $40,000 committed, according to this SEC disclosure.

Solarte Health was founded in 2013 by Merlin Brown and Arturo Solarte, also named on a pair of patent applications [1][2] concerning “health care account processing”.  The company’s corpspeak says:


“SolarteHealth will offer a fundamentally different type of health plan. It will offer consumers the tools and technology they need to make better informed decisions. And, it will offer a business model that empowers the patient/physician relationship, not the third-parties who stand to profit from the system.   Its business model is rooted in the traditional economic principles of supply and demand and the power of consumerism to lower costs. Consumers will access on-line information and competitive pricing information. And they will take back the power to control prices.  Competition is the only thing that has ever worked to control prices in virtually every sector of the economy. We, at Solarte Health, believe the time has come for consumers to solve what ails our nation’s health care system.”

In November of 2013, it was revealed that Solarte had raised at least $100k of a round similar size.

Interestingly, these filings can represent minimum or maximum ranges; therefor it’s difficult to know if Solarte Health is backed by a few hundred thousand, or $13m, as inquiries were not returned. Hence the mystery.

CREPartners

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