Healthworx

Healthworx serves as the dedicated investment and innovation arm of CareFirst BlueCross BlueShield, a leading health insurance provider in the Mid-Atlantic region. Established in 2017, Healthworx is headquartered in Baltimore, Maryland, and is committed to identifying and funding early-stage healthcare companies that are poised to transform the healthcare experience. Its core mission aligns with CareFirst's broader objectives of improving health outcomes, enhancing care delivery, and fostering innovation within the healthcare ecosystem for its extensive member base.

The firm primarily focuses on early-stage investments, spanning from Seed to Series B rounds, though it has also participated in later-stage growth rounds for strategic portfolio companies. Healthworx seeks out companies with robust management teams, validated technologies, and a clear path to market, aiming to support solutions that address critical challenges in healthcare. Since its inception, Healthworx has built a diversified portfolio, investing in over 20 companies across various healthcare sub-sectors, including digital health, care coordination, and population health management. This active investment strategy underscores its commitment to being a significant player in the healthcare innovation landscape.

Beyond providing capital, Healthworx offers its portfolio companies invaluable strategic advantages, leveraging CareFirst BlueCross BlueShield's vast resources and market presence. This includes access to CareFirst's deep industry expertise, extensive network, and potential for commercial partnerships and pilot programs within a large member population. CareFirst serves approximately 3.5 million members across Maryland, the District of Columbia, and parts of Northern Virginia, providing a substantial testing ground and potential customer base for Healthworx's portfolio companies. Their ability to lead significant rounds, such as the $15 million Series A for Alloy Health and the $10 million Series A for Wellth, demonstrates their capacity for substantial financial commitment to promising ventures. This blend of financial backing and strategic partnership positions Healthworx as a powerful catalyst for healthcare innovation.