The three health insurance companies will combine to help Bloom create a nationwide defined contribution system for employers.
Health insurers Health Care Service Corporation (HCSC), WellPoint and Blue Cross Blue Shield of Michigan (BCBSM) made equally-sized investments in US-based employer health insurance service Bloom Health on Tuesday.
HCSC and WellPoint are new investors but BCBSM’s venture capital unit, together with venture capital firm Sandbox Industries, previously invested in Bloom’s $5m series A round in January 2010. Bloom raised $7.5m in a December series B round where the investors were undisclosed, though signatories on the filing included board…
