Echo Health Ventures Expands Innovative Investment Model to Nashville

Hayley Hovious will lead Tennessee efforts in new role as Echo Health Advisors Principal

NASHVILLE, Tenn., April 7, 2022 /PRNewswire/ -- Echo Health Ventures announced today that it is establishing a local presence in Tennessee led by Echo Health Advisors Principal Hayley Hovious, who joined the company in March following seven years as president of the Nashville Health Care Council.

Echo CEO Rob Coppedge, a Tennessee native, sees its Nashville presence as a major milestone towards the company's mission to drive innovation to improve health outcomes, leading the way toward better health for the communities served by four Blues health plans that form the Echo Innovation Alliance.

The alliance includes Cambia Health Solutions and Mosaic Health Solutions, which partnered to create Echo Health Ventures in 2016; USAble Corporation, a wholly owned subsidiary of Arkansas Blue Cross and Blue Shield, which joined the alliance in 2021; and BlueCross BlueShield of Tennessee, which became an alliance member earlier this year. Collectively, the four enterprises cover more than 10 million members and diverse geographies in seven states.

"Echo invests in companies that are catalyzing health care transformation to improve outcomes, reduce overall cost and improve quality – companies committed to identifying bold new ways to meet the needs of tomorrow's health care consumers in an economically sustainable way," said Coppedge.

There are more than 25 companies in Echo's growing portfolio of innovative health care technology and services companies, including a recent investment in Nashville-based Embold Health, a physician-led health care analytics company. Echo continues to be a sought-after strategic investor because of its platform and engagement model.

"What makes our value proposition unique is the deep engagement we create between alliance members looking for solutions to complex challenges and the innovators developing them," said Coppedge. "We look forward to being actively involved in Nashville and to engaging with its incredible health services community to help build more bridges between the goals of innovators, payers and providers."

"Echo invests to build great health care companies driving change that aligns with the priorities of its allied health plans – improving affordability, accessibility, the member experience and outcomes," said Hovious. "I look forward to being part of a team accelerating and scaling adoption of cutting-edge health care technologies and services on a national scale."

"There's nowhere better than Nashville to build collaboration around emerging ideas and support entrepreneurial solutions," said physician and former U.S. Senate Majority Leader Bill Frist – who is consistently recognized among the most influential leaders in American health care. "Rob began his career here and, like Hayley, understands at the deepest level the significance of Nashville's health care industry. Echo will be a leader in rethinking traditional investment models and delivering on its commitment to bring new care models and services to consumers across the country."

With the addition of its Tennessee location, Echo now operates in six states including Oregon, North Carolina, Arkansas, Washington and Massachusetts.

"There's no doubt – Nashville is the magnet for health care," said Amedisys Chairman and CEO Paul Kusserow, who moved the publicly traded company's executive offices to Nashville in 2015. "Nashville health care is a $67 billion industry and a hub of innovative, entrepreneurial spirit. I expect with Hayley leading the effort, Echo will be immediate insiders and significant contributors to our vibrant health care community."

Echo Health Ventures drives systemic health care transformation through hands-on, purpose-driven strategic venture capital and growth equity investing. Echo brings together Cambia Health Solutions, Mosaic Health Solutions, USAble Corporation and BlueCross BlueShield of Tennessee to accelerate health care innovation on a national scale and support meaningful health care impact. Learn more at www.echohealthventures.com.

SOURCE Echo Health Ventures