CHICAGO (December 16, 2021)—Zing Health Holdings, a physician-led Medicare Advantage insurance company focused on serving vulnerable populations underserved by traditional insurance models, today announced that Town Hall Ventures and Leavitt Equity Partners, two leading investors focused on growing innovative healthcare businesses, have made a substantial minority investment in the company. Zing Health intends to use the proceeds from the $25 million investment to accelerate its growth and develop new business partnerships that align with its health equity mission.
The new investors join Newlight Partners and Health2047 in continuing to advance Zing Health’s mission to provide leading Medicare Advantage products to older Americans. Through comprehensive supplemental benefits and an emphasis on access to care, Zing Health’s plans extend meaningful access to patient-centered and technology-enabled care for seniors. Zing Health was spun out of the American Medical Association’s Health2047 innovation lab in 2019.
“We are thrilled that Town Hall Ventures and Leavitt Equity Partners are supporting our mission to create superior health outcomes for seniors across underserved communities,” said Dr. Eric E. Whitaker, Zing Health’s founder and CEO. “Both of these investors bring deep industry relationships and expertise and share our commitment to continuing to enhance the Medicare Advantage model that we’ve developed.”
“At Town Hall Ventures, we are committed to backing companies purpose-built for medically vulnerable and underserved populations,” said Trevor Price, general partner of Town Hall Ventures. “When we saw the work that the Zing Health team is doing to reduce access barriers and offer high-quality healthcare to diverse seniors who have been historically underserved, we knew we wanted to partner to help accelerate their efforts.”
“We believe that a transition to value-based healthcare is essential to transform the U.S. healthcare system,” said Michael O. Leavitt, founder and chairman of Leavitt Equity Partners. “Zing Health has built a strong team, led by Dr. Whitaker. They engage beneficiaries in a way that reduces long-term costs by improving access to more hands-on, preventative care.”
Srdjan Vukovic, a partner at Newlight, commented, “We are delighted to bring visionary investors alongside us to further support Zing Health’s growth. We and look forward to working with Zing Health’s passionate and skilled team and these new investors to advance the company’s important mission.”