Transcarent: Bending the Healthcare Cost & Access Curves
There are few people as dedicated to transforming healthcare as our friend Glen Tullman. Glen is well-known in healthcare circles and beyond for having successfully taken three companies public in the healthcare space. Those companies spanned the spectrum of solutions for the industry, addressing everything from practice management and electronic health records to subscription services and, most recently, chronic conditions with a company he co-founded with GC’s Hemant Taneja called Livongo.
With Livongo they delivered highly-personalized, mobile-first technologies to help people with chronic conditions live less-burdened, healthier lives. And they did just that, reaching hundreds of thousands of people via the Livongo platform and services. In 2019, Livongo became one of the largest consumer digital health IPOs in history, and in 2020, the company merged with Teladoc in a transaction valued at $18.5 billion.
Today, Transcarent, a company also co-founded by Hemant, announces that Glen is joining as CEO, reteaming Glen, Hemant and GC as a lead investor once again. With Transcarent, they aim to build a comprehensive, consumer-directed health and care platform for employees of self-insured employers and their families.
Self-insured employers, who pay for almost half of the healthcare expenditures in the US, have seen costs escalate year after year without corresponding improvements in the quality of care. While employers attempt to offer their employees access to best-in-class healthcare services, the result for employees and their families is often fragmented experiences that are confusing to use and have little impact on health outcomes or cost.
The goal of the Transcarent platform is to unify healthcare services, including primary care, surgical, at-home care, and chronic disease support into one seamless interface that helps employees better understand their choices in care providers and the associated costs of care.
Glen, Hemant, GC’s Holly Maloney (who has joined the company’s board), and the experienced team at Transcarent understand that success depends on true collaboration between healthcare and technology leadership. In a space that in the past year we’ve all come to realize as being incredibly important to us personally, but also at a societal level, it’s crucial that we get this right. We’re honored to have this opportunity to collaborate once again with Glen to build another meaningful company in healthcare.
— Team GC