AJ Loiacono's healthcare software startup Judi Health reduced costs by 11% for 1,800 plan members and cut claims processing times from more than six months to 18 days. The 53-year-old entrepreneur founded the company, formerly known as Capital Rx, to address inefficiencies in an industry where administrative spending reaches $1 trillion annually, Forbes reported.
Judi Health on Tuesday announced a $400 investment, including a $252 million Series F funding round led by Wellington Management and General Catalyst that doubled the company’s valuation to $3.25 billion. The funding round is set to close in October.
