Alphabet Invests $375M in Oscar Health
Following the previous investment by its two subsidiaries – Capital G and Verily, Alphabet is now taking the lead and investing $375m in NY-based health insurer Oscar , bringing the company’s total funding to date to ~$1.26 billion.
According to Wired, which interviewed Oscar CEO Mario Schlosser earlier today, Alphabet now owns roughly 10% of the company. The new funding will allow Oscar to expand beyond the individual healthcare exchanges and small employer market, and into the Medicare Advantage market, caring for people 65 and older.
Bottom Line: new funding, same old problems.