What You Should Know:
– Mark Thierer — the former CEO of OptumRx who took that role after selling Catamaran to UnitedHealth Group for $13B, today announced the launch of Waltz Health with $35.4M led by GV (Google Ventures) including participation from Define Ventures, Echo Health Ventures, Blue Venture Fund, Byers Capital, and Twine Ventures. Other funding came from a prestigious list of seasoned healthcare executives.
– Waltz Health plans to use the new funding to scale quickly, investing in product development and growing its team across all business areas
Guide Decisions on Care Designed With Payers & Consumers in Mind
Millions of Americans cannot afford their prescriptions, and millions more admit they will skip refills or ration medications because of affordability. The prices of many prescription drugs are projected to rise again this year. Waltz Health aims to fix the high costs and challenging experiences that define the U.S. pharmaceutical supply chain.
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Waltz Health’s first application to launch is Marketplace Search, a white-labeled, online search engine that pharmacies make available to their customers. Drawing from a curated mix of drug-discount data sources, Marketplace Search provides consumers with an intuitive search experience that presents comparable prices for their medications. Powered by artificial intelligence (AI) and driven by consumer choice, Marketplace Search analyzes and displays the most relevant and appropriate drug prices available to consumers for specific drugs.
For retail pharmacies, Marketplace Search allows them to enhance their customer experience, build customer loyalty, and avoid much of the abrasion and burdens they encounter with today’s solutions. Waltz Health plans to announce several partnerships with major pharmacy chains this year.
“Waltz Health has created a more transparent and patient-centric approach to paying for prescription medications. Few people understand the complex dynamics of this healthcare sector better than CEO Mark Thierer and the executive team,” said Ben Robbins, Venture Partner at GV. “We believe the company’s core leadership and technology-driven approach to lower prescription costs will significantly impact the prescription care market, and we’re proud to be early investors.”