6 Degrees Health Secures Significant Growth Equity Investment from FTV Capital
Investment will support continued growth and expansion of leading reference-based pricing platform
HILLSBORO, Ore., Sept. 9, 2020 – 6 Degrees Health, a provider of technology-enabled healthcare cost containment solutions for self-insured employers, today announced it has secured a significant investment from FTV Capital, a sector-focused growth equity investor in innovative companies in enterprise technology and services, financial services, and payments and transaction processing. This investment will enable 6 Degrees Health to expand its platform, which enables employers to realize significant cost savings while also generating best-in-class employee experience.
6 Degrees Health’s reference-based pricing solutions encourage health plans to pay providers a fair rate, without unduly restricting employee benefits. 6 Degrees Health’s proprietary MediVI technology platform collects, analyzes and benchmarks claims and billing data across plans, providers and geographies to provide medical reimbursement analytics for audits, contracting and claim negotiation.
“Our goal at 6 Degrees Health is to bring equity and fairness back into the healthcare reimbursement equation,” said Scott Ray, CEO of 6 Degrees Health. “Through our differentiated, per-employee-per month pricing model and our MediVI technology platform, we look to eliminate restrictive networks, decrease healthcare costs and allow members to seek care from any provider they choose without the risk of decreased benefits. FTV Capital’s investment and strong expertise in enterprise technology will allow us to continue focusing on bringing greater transparency to our customers and the healthcare sector more broadly.”
“As a result of a strong leadership team and passion to provide transparency, 6 Degrees Health continues to ‘pull back the curtain’ on healthcare pricing,” said Alex Mason, partner at FTV Capital. “FTV Capital is excited to partner with a driven, dedicated team to help further enhance its technologies and create more transparency for the market.”
“Rising healthcare spend is a significant cost burden and managing high-cost claims is the top priority for self-insured employers,” said Chris Winship, partner at FTV Capital. “6 Degrees Health provides self-insured employers with a technology-enabled cost-containment solution that delivers significant savings on healthcare claims. We are excited to support the company’s incredible traction as they inject analytics into a challenged industry that is swimming in broken technologies, manual processes and other inefficiencies.”
As part of the transaction, FTV Capital’s Chris Winship, Alex Mason and Abhay Puskoor will join the 6 Degrees Health board of directors.
6 Degrees Health was advised by Covington Associates.