Arbital Health, a technology startup focused on accelerating the healthcare industry’s transition to value-based care, announced the acquisition of Santa Barbara Actuaries, Inc. (SBA), and $10 million in Series A financing led by digital healthcare investor Transformation Capital.
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Other institutional investors in the funding round include Shaper Capital, Healthy Ventures, Flex Capital, and Underdog Labs.
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In conjunction with the acquisition and financing, Dr. Ian Duncan and Scott Rosen will both join Arbital Health’s Board of Directors to serve alongside Chairman Travis May and Brian Overstreet. Dr. Ian Duncan will also serve as Chief Actuary for Arbital Health.
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“We are very excited to welcome the Santa Barbara Actuaries team to Arbital Health. SBA has established itself as a leading solutions provider for the entire value-based care ecosystem. Their stellar reputation for impartial analysis, statistical rigor, and best-in-class services and solutions are a key element to our mission to become the neutral, third-party utility for the design, measurement, and adjudication of outcome-based contracts in U.S. healthcare,” said Brian M. Overstreet, President & CEO of Arbital Health. “I am also pleased to welcome Transformation Capital as the lead investor in our $10 million Series A financing. Solving the misalignment of incentives in healthcare is one of the most important challenges of our era, and we are thrilled to have assembled an incredible set of investors, advisors, and team for the journey ahead.”
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Dr. Ian Duncan FSA, MAAA, President of Santa Barbara Actuaries said, “Since our founding, Santa Barbara Actuaries has been at the forefront of supporting value-based care by building one of the best actuarial teams and serving some of the most innovative clients. Arbital Health’s expertise in productizing and scaling healthcare technology platforms will enable us to bring better incentive alignment to all healthcare stakeholders via value-based care. This announcement stands as a testament to the talent, hard work, and innovation of the Santa Barbara Actuaries team.”
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“We are excited to partner with Brian, Travis, and the Arbital Health team on their mission to create the neutral third-party utility for the design, measurement, and adjudication of value-based care,” said Scott Rosen, Partner at Transformation Capital. “We believe that Arbital Health’s unique approach, team, technology, and track record position it well to be a major force in this space for years to come.”
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About Arbital Health
Co-founded by Travis May and Brian Overstreet, Arbital Health is building a neutral, third-party adjudication utility to help bolster outcomes-based healthcare contracts. Arbital Health believe incentive alignment is one of the most important challenges in the US healthcare system, and Arbital Health believe that Arbital will accelerate the $1 trillion dollar shift to value-based care in the US.
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