Michelle Carnahan, a seasoned healthcare executive with a background in working with companies like Thirty Madison and Eli Lilly, has recently secured $52 million in seed funding for her new startup, Arbiter. This platform aims to connect healthcare professionals and payers to enhance patient care.
The funding for Arbiter was provided by various family offices, including TriEdge Investments, MFO Ventures, and WindRose Health Investors. This investment has valued Arbiter at $400 million. Carnahan, who spent 26 years at Eli Lilly before joining Thirty Madison, played a crucial role in the latter’s acquisition by Remedy Meds in a $500 million all-stock deal.
Despite her experience with venture capital funding, Carnahan chose to partner with specialized investors for Arbiter to expedite the product’s market entry. She believes that this approach will provide both a knowledge and distribution advantage, enabling faster growth and scalability.
Arbiter’s primary objective is to create an AI-powered platform that brings together payers, providers, and patients to streamline healthcare processes and improve patient outcomes. Despite being a relatively new startup, Arbiter is already operational with over 1,000 clinicians using the platform.
The support from family offices and the acquisition of SecondWave Delivery Systems, a data platform founded by MFO Ventures co-founder Erick Moskow, have accelerated Arbiter’s progress in the healthcare industry. Carnahan envisions Arbiter as a catalyst for transforming the fragmented healthcare system into a connected ecosystem that benefits everyone involved.
Looking ahead, Carnahan plans to expand Arbiter’s capabilities through strategic acquisitions of platforms with robust data strategies, similar to SecondWave’s approach. She aims to position Arbiter as the conductor orchestrating various healthcare tools and technologies to proactively address patient needs and eliminate inefficiencies in the system.
In conclusion, Arbiter’s mission to revolutionize U.S. healthcare by aligning payers and providers around patient needs reflects a commitment to improving the overall healthcare experience. By leveraging AI technology and strategic partnerships, Arbiter aims to drive positive change in the healthcare industry for the benefit of all stakeholders.
