Oxbridge Health raises $45M Series B to sell by-episode health plans
What's the deal? Oxbridge Health has closed a $45 million Series B led by EIR PartnersDealroom has a profile for this one. Try Dealroom →, with participation from Optum VenturesDealroom has a profile for this one. Try Dealroom → and a group of healthcare leaders. The round brings total investment in the company to $90 million and marks the start of full commercial operations for its Episode Advantage Health Plans.
What does it do? Oxbridge prices, guarantees, and administers healthcare by episode of care — such as a knee replacement, cataract surgery, or annual diabetes care. Members see guaranteed prices from local care groups before treatment, and employers set a coverage allowance so both sides know what the plan will pay in advance.
What the data shows: In an analysis of 15 million risk-adjusted commercial episodes across four states, Oxbridge found that treatment costs vary several-fold within the same market, with higher-cost groups delivering no consistently better quality. Most of the gap came from how much care was delivered, not the price per service. The company says its plans are designed to cost employers 10% to 25% less than a comparable PPO or HMO plan with the same benefits.
Why now? The financing follows three years spent building the data systems, analytics, and software behind the model. Self-funded employers in Texas, New York, New Jersey, and Connecticut — plus the brokers who advise them — can now obtain Oxbridge quotes for 2027 health benefits, with stop-loss coverage from four reinsurers.
What's the endgame? The capital will fund sales and service for employers and brokers, add geographic markets, and bring an Episode Advantage Inside offering to health plan partners.
Who's behind it? Oxbridge was founded by Steve Wiggins, who founded Oxford Health PlansDealroom has a profile for this one. Try Dealroom → and later Remedy PartnersDealroom has a profile for this one. Try Dealroom →, an episode-based payment program covering roughly $7 billion in healthcare spending for Medicare beneficiaries. "We show the price first, and we let employers decide how much they will pay for an episode of care," said chief executive officer Will Herling.
The signal: At $45 million, the round sits in the upper tier of its peer group for size, a sign of investor appetite for models that attack healthcare pricing rather than narrow networks or shift costs to employees. "Oxbridge is the first company to address the wide variance in episodic cost for treating the same patient," said Brett Carlson, managing partner of EIR Partners.
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