In a statement, the billionaire venture capitalist said, “We need companies like Clover to help fix our broken healthcare system. The Company’s rapid growth is a testament to the effectiveness of its tech-enabled approach, which resonates powerfully with consumers and physicians alike.”
“I believe Clover is uniquely positioned to disrupt the entire Medicare Advantage market as well as expand into new and exciting opportunities in Original Medicare. I am proud to partner with Vivek, Andrew, and the entire Clover team on the next phase of their mission to improve lives across the country,” he added.
Medicare Advantage is one of the largest and fastest-growing markets in the U.S. healthcare system – but it is one that has seen little innovation and remains ripe for disruption. Worth $270 billion today and with an estimated value of $590 billion by 2025, the Medicare Advantage market provides a tremendous opportunity for growth.
Three weeks ago Palihapitiya filed his $4.8 billion SPAC deal with real estate start-up Opendoor.
