K Health, Anthem, and Blackstone Development are teaming up to establish a joint venture which aims to reduce health expenses and make care more accessible.
Hydrogen Health is backed by investment in Blackstone and Anthem, and K Health CEO Allon Bloch will function as the new firm’s chief executive. Financial terms weren’t disclosed.
The new enterprise will exploit K Health’s artificial intelligence resources to deliver new electronic health offerings into the customer and company markets, based on a statement by the firms. “Our analysts expect us to discover innovative solutions to boost access to high-quality maintenance, improve the medical experience, and reduce prices,” Amy Mulberry, senior vice president, and chief development officer in Anthem stated in an announcement.
“As a part of the strategy, we concentrate on partnerships and investments such as this one which ignites exponential technology, such as Artificial Intelligence; reevaluate businesses, and profoundly influence our lives.
According to the statement, Hydrogen Health’s platforms will be made to permit users to incorporate them across different kinds of health care.
The business will start with a put-and-call arrangement between Anthem and Blackstone concerning investment, according to the statement.
“K Health has shown that we can provide individuals access to really high-quality medication remotely,” Bloch said. “This partnership with Anthem and Blackstone can help get K Health’s solutions to the hands of people who need them all, enlarging upon our current base of 4 million consumers and reducing costs in the medical system to allow it to work for everybody.”