The former Fortune 50 CEO joins Define to
further drive transformational change in healthcare at the earliest
stages of innovation
SAN
FRANCISCO, Oct. 22, 2024 /PRNewswire/ -- Define
Ventures, one of the largest venture capital firms focused on
early-stage health tech companies, today announced that
Bruce Broussard, former CEO and
president of Humana (NYSE: HUM), has joined the firm as venture
partner. Bruce will play a pivotal role at Define, leveraging his
invaluable experience scaling companies and fostering innovation
within private startups, mid-size companies, and the Fortune 50. He
will partner closely with Define founders to scale their businesses
and become category-defining companies.
Bruce is a seasoned healthcare executive and multi-time CEO,
having held executive leadership positions across multiple corners
of the ecosystem. Prior to joining Define, Bruce was president and
CEO of Humana for over a dozen years. Under his leadership, Bruce
led a strategic shift towards expanding the company into an
integrated model with a growing care delivery focus. Bruce also
held several roles at McKesson Specialty Health including CEO, CFO,
President, and Chairman of the Board. He currently serves on the
Humana Foundation Board, is Chair of the Board of Directors of the
Trust for the National Mall, and is a board member for HP Inc. and
One Call.
"Bruce's extensive background and proven track record in leading
healthcare organizations of all sizes makes him uniquely qualified
to guide the next generation of health tech innovators," said
Lynne Chou O'Keefe, founder and
managing partner at Define Ventures. "Having had the privilege to
closely partner with Bruce for the past decade, I am confident his
decision to join our team will sharpen our investing theses,
accelerate our partner companies' growth, strengthen our
relationships with large healthcare organizations, and ultimately
create a lasting impact on the broader health tech community."
Bruce is joining a team that pulls the full weight of its
network and expertise to play offense and drive results, including
securing early customers, shaping commercial strategies, and
building high-performing teams. As venture partner, Bruce will
leverage his experience driving transformative change within
complex healthcare organizations to help Define founders to
navigate industry challenges and scale their innovations
effectively. His perspective will also strengthen Define's close
partnerships with its coalition of large health systems, health
plans, employers, and life sciences companies, half of which are
customers of Define partner companies.
"What excites me the most about this role is the opportunity to
work with brilliant, innovative entrepreneurs at the earliest
stages of their journey," Broussard said. "Being able to see
groundbreaking approaches from the start, and having the chance to
shape products and help scale and bring them to market is truly
invigorating. Ultimately, I chose to work with Define because I
believe this firm is uniquely positioned and capable of driving
real transformation in healthcare. The strong, trustworthy
relationship we've built over the years has shown me that Define's
vision aligns perfectly with my own. Together, I believe we can
make significant strides in creating a healthcare system that's
more efficient, more accessible, and more focused on keeping people
healthy."
Bruce's decision to join Define Ventures stems from his belief
that the firm is uniquely positioned and capable of transforming
healthcare. He has built a strong and trustworthy relationship with
Define over the past several years, including first-hand experience
in incubating and spinning out Cohere Health from Humana. This
collaborative history underscores the alignment between Bruce's
vision for healthcare innovation and Define's strategic
approach.
Define Ventures has $800 million
in assets under management and partners with companies at the seed,
series A and series B stages. The firm attracts leading health tech
entrepreneurs with its high conviction approach, partnering with
over two dozen companies including Hims & Hers (NYSE: HIMS) and
Unite Us. This announcement follows Frank
Williams, co-founder and former CEO of Evolent (NYSE: EVH)
joining Define as venture partner earlier this year.
To learn more about Define Ventures, visit www.definevc.com.
About Define Ventures
Define Ventures is one of the
largest funds focused on early-stage health tech companies. With
$800 AUM, we take a high conviction
approach in partnering with companies at the earliest stages. We
believe the future of healthcare will be defined who bring together
a deep understanding of the healthcare ecosystem paired with a
technology-driven mindset. Our team was built in this vision,
bringing together founders and investors who built
category-defining companies and delivered $23 billion in exit value, including Livongo
(LVGO), Evolent (NYSE: EVH), and Hims & Hers (NYSE: HIMS).
View original
content:https://www.prnewswire.com/news-releases/define-ventures-appoints-bruce-broussard-as-venture-partner-302282546.html
SOURCE Define Ventures