Cigna will direct another $450 million into its venture fund, Cigna Ventures, in a bid to increase spending on startup businesses and digital health, reports Healthcare Finance.
In addition to injecting extra cash into the venture fund, the insurer plans an investment in innovations which includes $1.25 billion in capital expenditures, part of a bid to keep pace with other insurers who have made similar investments in technology.
The company said it intends to continue making strategic investments in innovation through targeted “bolt-on or tuck-in” acquisitions, along with establishing positions in earlier-stage companies through the venture capital arm.
The $450 million going to Cigna Ventures will focus on maximizing impact across three key areas: insights and analytics; digital health and experience; and care delivery and enablement. Read more.
