HealthQuest Capital, a growth capital firm investing in commercial-stage healthcare companies that meaningfully improve patient outcomes and reduce costs in healthcare, today announced the addition of Kristi Savacool to its board of advisors. Savacool most recently served as chief executive officer of Aon Hewitt, the global human resources solutions business of Aon plc., until her retirement in January 2018. Under her leadership, the firm developed a number of innovative solutions, including the Aon Active Health Exchange, the industry's largest private health exchange solution for active employees.
Savacool joins an advisory board that includes leading executives representing Becton, Dickinson and Company, Bon Secours Mercy Health, Humana, Johnson & Johnson, LabCorp, Mayo Clinic (Florida), Medtronic, Procter & Gamble and a prior U.S. Surgeon General. She initially worked with HealthQuest through her role on the board of directors of portfolio company, Springbuk, a health data analytics solution to help self-insured employers manage their benefits programs.
Savacool currently serves as Executive Business Advisor for Private Health Management, a leading health care navigation firm addressing the most complex health issues. She also served as chief executive officer of Benefits Administration for Aon Hewitt, which delivered market-leading defined benefit, defined contribution and health and welfare services to more than 22 million participants. Before joining Hewitt in 2005, Kristi worked for The Boeing Company for more than 25 years, where she held several senior executive management positions spanning technology, operations and shared services across commercial and federal business sectors. Savacool holds a Master of Science degree in industrial management from SKEMA University in Lille, France and completed executive management programs from the Johnson School of Business at Cornell University, Seattle University's Albers School of Business and Economics, and Northwestern's Kellogg School of Management.
The pandemic has highlighted the critical role that employers (both self-insured, and through partnering with insurance carriers) play in the health of employees. About half of the country's total population receives employer-sponsored health insurance, according to recent data from the Kaiser Family Foundation (KFF).
"Kristi's expertise in employer health and benefits solutions is an invaluable addition to the HealthQuest board of advisors," said Garheng Kong, founder and Managing Partner, HealthQuest Capital. "Driving value-based care and reducing inefficiencies in the healthcare system is near impossible without carriers, providers, brokers and intermediaries working in tandem with employers to deliver benefits solutions to a workforce whose healthcare demands are rapidly changing," said Kong.
"HealthQuest is leading the way in driving alignment of interests across all aspects of the health care system. I'm delighted to lead alongside my fellow board members in supporting such an important mission," said Savacool.
Savacool joins HealthQuest in sharing a passion to support and foster the growth of transformative companies that increase value in healthcare, by improving patient outcomes and/or by reducing wasted expenditure. HealthQuest invests across many sectors of healthcare, including medical products, diagnostics/tools, digital healthcare and innovative healthcare services. Examples include:
- Everlywell, a consumer-centric at-home diagnostic testing platform with over 30 tests
- Springbuk, an employer health intelligence platform to improve employee health outcomes and better measure healthcare management impact
- BioIQ, a provider of unified solutions for health testing programs used by Fortune 50 companies and over 40 health plans