Lantern

About Lantern

Lantern operates as a specialty care platform designed to connect members of self-funded employer health plans with high-quality, cost-effective medical care for complex needs. The company, headquartered in Dallas, Texas, targets the highest-cost areas of healthcare spend for employers, which include surgery, cancer care, and infusion therapies. Lantern's business model is centered on providing a supplemental health benefit to large employers, public sector entities, and labor unions. It curates a proprietary "Network of Excellence" by directly contracting with top-performing specialists and facilities, including ambulatory surgery centers and hospitals, across the United States. This model aims to deliver significant cost savings to employers—reportedly over 55% lower rates than average health plans—while improving clinical outcomes for patients. The company was founded in 2010, and was previously known as Employer Direct Healthcare and operated with SurgeryPlus as its core product. In September 2024, the company rebranded to Lantern to reflect its expansion beyond surgery into a multi-faceted specialty care platform. John Zutter, who has a background in investment banking and private equity with J.P. Morgan and Dundon Capital Partners, joined as CEO in 2016. Under his leadership, Lantern grew from approximately 100,000 members to over 6 million, serving more than 1,000 employers. The company's growth was supported by several funding rounds, including a $30 million investment in March 2026 led by Morgan Health, a JPMorgan Chase business unit, and Echo Health Ventures. Lantern's platform functions as an evolution of the traditional Centers of Excellence (COE) model by emphasizing local, accessible care to drive higher utilization. The company reports that providing local access can increase utilization by five to eight times compared to models requiring travel. For members, Lantern provides a dedicated care team of care advocates and nurses who offer personalized support throughout their entire treatment journey, from diagnosis and scheduling to post-treatment follow-up. This service helps members navigate the complex healthcare system, access second opinions, and get scheduled for care faster than the national average. The platform's key services cover planned surgeries, comprehensive cancer care, and both in-home and ambulatory infusion therapies.