NationsBenefits Funding, Investors & Competitors

UnitedHealth Group is one of the largest private health insurers and provides medical benefits to about 51 million members globally, including 1 million outside the US as of December 2024. As a leader in employer-sponsored, self-directed, and government-backed insurance plans, UnitedHealth has obtained massive scale in medical insurance. Along with its insurance assets, UnitedHealth's Optum franchises help create a healthcare services colossus that spans everything from pharmaceutical benefits to providing outpatient care and analytics to both affiliated and third-party customers.

Molina Healthcare Inc provides medical insurance plans through Medicaid, the individual exchanges, and Medicare. The company operates in four reportable segments consisting of: 1) Medicaid; 2) Medicare; 3) Marketplace; and 4) Other. It manages health benefit risks for more than 5 million people, with more than 85% of those members coming through contracts with state governments for their Medicaid programs. Medicaid contracts in four states-California, New York, Texas, and Washington-account for over half of its enrollees.

Garner Health is a New York-headquartered healthcare technology company delivering bundled payment solutions to employers. The platform facilitates direct access to high-quality physicians at reduced costs, improving employee care experiences nationwide. Garner partners with self-insured employers to manage medical spend through transparent pricing models for procedures like orthopedics, cardiology, and radiology. Launched in 2018, it processes claims across multiple states, emphasizing compliance and data analytics for healthcare savings.

Clover Health Investments Corp is a healthcare technology company. It focuses on empowering Medicare physicians to proactively manage chronic diseases through its proprietary software platform, Clover Assistant. This cloud-based solution provides personalized insights to physicians, enabling early detection and management of chronic conditions. It operates in one segment: Insurance, through which it offers PPO and HMO plans to Medicare Advantage members in several states.

Thyme Care is a New York-based oncology care management company partnering with health plans to deliver integrated support for cancer patients. The platform coordinates navigation, symptom management, psychosocial care, and financial assistance across 20 US states. Thyme Care's clinicians collaborate with oncologists at over 100 provider sites, using data analytics to personalize care journeys for members of payers like Aetna and Cigna. Founded in 2020, the company has enrolled thousands of patients in its whole-person care model.

Main Street Health is a value-based healthcare company, founded in 2021 and based in Nashville, Tennessee, that partners exclusively with rural primary care clinics in the United States. It places Health Navigators inside partner clinics and provides data and tools that help those clinics manage Medicare patients under value-based care, working with clinics that on average have 2.5 providers in towns of 3,000 to 5,000 people. The company has reported improvements in quality scores alongside reductions in hospitalizations and medical costs among the patient populations it serves.

MediTrust Health is a Shanghai-based healthcare platform that connects pharmaceutical companies, insurers, hospitals, and patients across China. Launched in 2015, it distributes diverse health insurance products alongside medical benefits and services like telemedicine and drug delivery. MediTrust integrates high-quality resources to offer families economical, personalized healthcare protection and hospital access. The platform forms a closed-loop ecosystem among payers, suppliers, and end-users, with operations spanning major Chinese cities and partnerships with leading insurers.

Grand Rounds, now operating as Included Health, is a San Francisco-based healthcare navigation company providing virtual and in-person care coordination. It offers advocacy services for urgent care, primary care, behavioral health, and specialties, serving over 10 million members. Rebranded in 2022, it partners with employers and insurers to reduce costs through expert physician matching and claims optimization.

Curative is a healthcare services company providing employer-based health insurance plans with no copays, deductibles, or surprise billing. Launched in 2020 amid the COVID-19 pandemic, the firm initially scaled mass testing sites across Los Angeles and other US cities before pivoting to insurance. Its plans emphasize primary care access through partnerships with providers in California and Texas. Curative operates in multiple states, offering virtual care navigation and transparent pricing to over 10,000 covered lives. Headquartered in Austin, Texas, the company integrates telehealth with in-person services.

DUOS is a technology platform connecting Medicare beneficiaries to health resources across the United States. It aggregates data from disparate sources to enable proactive member engagement, health literacy improvements, and closed-loop care connections, partnering with insurers to enhance outcomes and satisfaction.

Solera Health is a benefits management platform connecting payers and employers to digital health programs for preventive care. Matching members to interventions for diabetes prevention, hypertension control, weight loss, mental health, and tobacco cessation, the system uses algorithms for personalized recommendations. Integrating with telehealth and coaching, Solera emphasizes musculoskeletal and women's health modules. Based in Phoenix, Arizona, the company partners with providers for outcomes-based contracting.

Centivo is a New York-headquartered health plan administrator facilitating self-funded employer programs with primary care networks. Launched in 2017, it handles claims processing, network access, and population health management via personalized doctor matching and a mobile app. Centivo's model incentivizes high-value care coordination, serving mid-sized employers seeking cost control and clinician partnerships across the United States.

Ontrak Inc is an artificial intelligence (AI)-powered and technology-enabled behavioral healthcare company, whose mission is to help improve the health and save the lives of as many people as possible. The group provides a value-based behavioral healthcare company that identifies and engages people with unmet health needs using the proprietary Advanced Engagement System to improve clinical outcomes and reduce total cost of care. The company's integrated, technology-enabled OntrakTM solutions, a component of the PRE platform, are designed to treat members with behavioral conditions that cause chronic medical conditions such as diabetes, hypertension, coronary artery disease, COPD, and congestive heart failure.

Devoted Health offers Medicare Advantage plans for seniors in the United States. Headquartered in Boston, Massachusetts, the company integrates health insurance with virtual care, in-home visits, and concierge services through its Devoted Medical division. Plans cover 10 states including Florida and Texas, emphasizing primary care and chronic condition management. Devoted Health partners with providers like Mass General Brigham and leverages proprietary technology for personalized care coordination.

HealthEquity Inc provides solutions that allow consumers to make healthcare saving and spending decisions. It provides payment processing services, personalized benefit information, the ability to earn wellness incentives, and investment advice to grow their tax-advantaged healthcare savings. It manages consumers' tax-advantaged health savings accounts (HSAs) and other consumer-directed benefits (CDBs) offered by employers, including flexible spending accounts and health reimbursement arrangements (FSAs and HRAs), and administers Consolidated Omnibus Budget Reconciliation Act (COBRA), commuter and other benefits. It also provides investment advisory services to customers whose account balances exceed a certain threshold. HealthEquity generates its revenue in the United States.

WeDoctor is a Hangzhou-based digital healthcare company that grew out of the hospital appointment booking site Guahao.com, founded in 2010 by Jerry Liao. It was renamed WeDoctor in 2015 and operates an internet healthcare platform linking hospitals, doctors, patients, pharmacies and insurers. Services include online appointment booking, remote consultation, prescriptions and AI-assisted care, and it set up the Wuzhen Internet Hospital in 2015, described as China's first internet hospital. In its recent Hong Kong listing filings the company describes itself as a provider of AI healthcare solutions built around a contracted-population, capitated-payment model for local health communities. Investors have included Tencent, Fosun, Hillhouse Capital, Goldman Sachs, AIA Group, NWS Holdings and Sequoia Capital China, and it raised a US$500 million pre-IPO round in 2018 and about US$400 million in a further pre-IPO round around the turn of 2021.