It’s no secret that Optum, the services & technology division of Minnetonka behemoth UnitedHealth Group, has been backing healthtech companies for some time now.
The fund officially announced the price tag today, pegging the value at “$250 million venture fund focused on investing in startup and early-stage companies whose innovations will help advance the health care system.”
Optum Ventures is funded by Optum and will operate independently under the leadership of its Partners, A.G. Breitenstein and Virginia McFerran. Together, Breitenstein and McFerran have years of experience in starting, advising and leading innovative health care enterprises. The fund will have offices in Boston, Massachusetts and Menlo Park, California.
“Optum Ventures invests in digital health companies that use data and insights to help improve consumers’ access to health care services and how care is delivered and paid for, and that make the health care system more reliable and easier to navigate. ”
It’s unclear how much of that $250m is actually dry powder considering a number of deals already done, including: Apervita, Buoy Health, Mindstrong Health and SHYFT Analytics — placing them in a growing pool of local corporate investors such as Medtronic, Medica and Mayo Clinic.