Former OptumRx CEO launches startup Waltz Health with $35M, promising to lower drug costs – MedCity News

As many people struggle to afford medications, some have advocated for the government to step in to negotiate prices. But a new company led by the former CEO of pharmacy benefit manager OptumRx is promising to lower drug costs by working with industry insiders across the drug supply chain.

Waltz Health, which was co-founded by veteran industry executive Mark Thierer, announced it officially launched Tuesday with $35.4 million in Series A funding led by GV (formerly Google Ventures). Define Ventures, Echo Health Ventures, Blue Venture Fund, Byers Capital, Twine Ventures and other healthcare executives also contributed, according to the company.

PBMs have faced significant scrutiny for their perceived role in widely ranging drug pricing, and the sticker shock many consumers face at the pharmacy counter. Opaque pricing practices have drawn criticism even from within the industry, with some smaller PBMs positioning themselves as doing things differently.

But Waltz Health, which was…

Read Full Story: https://medcitynews.com/2022/04/former-optumrx-ceo-launches-startup-waltz-health-with-35m-promising-to-lower-drug-costs/

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