Former Centers for Medicare and Medicaid Acting Administrator Andy Slavitt and partners Trevor Price and David Whelan have created the venture capital firm Town Hall Ventures to help healthcare companies provide more affordable, quality care to underserved populations.

Town Hall Ventures will invest in healthcare technology and service companies to improve care in Medicare, Medicaid, risk-based care, complex conditions and in addressing the social determinants of health, the new firm said in a statement. This includes a population of an estimated 120 million and approximately $1.2 trillion in annual healthcare spending.

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