Morgan Health joins $23M series B round for Embold Health

Morgan Health has unveiled its next investment, joining the latest funding round for Embold Health, a physician-led data analytics company.

The healthcare arm of JPMorgan Chase will chip in $5 million of Embold's $23 million series B round. The round is led by Echo Ventures and also includes investment from Whistler Capital Partners and Chyrsalis Ventures.

JPMorgan launched Morgan Health last May following the collapse of Haven, its joint healthcare venture with Amazon and Berkshire Hathway. The business aims to rethink the cost and quality of employer healthcare with a focus on partnerships with healthcare organizations and strategic investments.

Embold's platform offers providers, employers and payers real-time, actionable data on provider quality tracked through practice patterns and appropriateness metrics. The lack of access to such data can hinder the growth of value-based and accountable care models in the employer and commercial health markets, a focus for Morgan Health.

"Choosing a high-quality doctor is one of the most important decisions we can makein support of our health. At the same time, the lack of objective and actionable data makes this process all the more challenging and convoluted," said Dan Mendelson, CEO of Morgan Health, in a statement. "Embold's platform and services make the selection process more intuitive for consumers with the data and insights needed to make sure they are getting the best value for their healthcare dollars."

Embold's platform aims to align cost and quality data across a number of specialties including cardiology, endocrinology, gastroenterology, obstetrics, pediatrics and primary care. The information allows patients to more readily find high-quality providers while making it easier to enable value-based payment arrangements.

“We’ve focused on establishing a new standard for quality measures and reporting that is transparent, honest and objective so that consumers, employers, health plans and doctors themselves can use Embold’s suite of services to make better and smarter decisions around their care,” Daniel Stein, M.D., Embold founder and CEO, said in a statement. “We’re excited about the partnership with Morgan Health and their shared vision for engaging patients with actionable insights to improve their health.”

Morgan Health also made a $50 million investment into Vera Whole Health, which offers a holistic primary care model. At the time of its launch, JPMorgan said it plans to invest $250 million in promising health solutions, so more investments are on the way.