Now Fully Extricated From Rahway, Kenneth C. Frazier Signs On To Be Chairman Of... Transcarent

You knew he would not stay fully retired for long -- and to be fair, this is a chairman of the board of directors role, not an operating, hands on, position. [But we all know he has only one speed: full, ahead.] And anyone who has been paying attention here knows I admire just about everything about him. A great guy, and a stellar leader.

So, the new-ish health delivery via connected device company is very lucky to have him. And the team has about three years of fully-funded capital raised, as runway -- to get it into the black. Here's the scoop from Axios:

. . .Health care pathway architect Transcarent named former Merck CEO Kenneth Frazier chair of its board of directors. . . .

[Frazier] sees the role as a means of helping restore people's sense of trust and control in the medical system.

"I’ve spent a lot of time developing new medicines and vaccines," Frazier tells Axios. "I also grew up in the inner city of Philadelphia, so I understand the last mile problem of not having access to care. There's a lot of dignity involved when you feel you're in charge, as opposed to having someone dictate it to you. . . ."

Launched in summer 2021, Transcarent has raised just shy of $300 million, including the $200 million in Series C funds it collected in January 2022 led by Kinnevik and Human Capital. . . .

Employer-facing Transcarent gives members round-the-clock access to clinicians via text and offers price comparison tools and quality assessments for medical interventions including surgeries. . . . The company pays clinicians including surgeons on the same day they provide care. . . .

Well. That sounds promising, indeed.

To be certain, the competitors (Accolade, which in 2020 raised $192.5 million in a second public offering, and HealthJoy) include some deeper pockets, but the opportunity to make health care delivery a more customer focused endeavor in the US. . . is a vast one. Onward, and Kudos to Mr. Frazier! Have a great weekend, one and all. . . .

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