Oxbridge Health has closed a US$45 million Series B financing led by Eir Partners, with participation from Optum Ventures. The round brings total investment to US$90 million and marks full commercial operations for its Episode Advantage Health Plans. Self-funded employers in Texas, New York, New Jersey, and Connecticut can now request 2027 health benefit quotes.
Episode-Based Coverage and Savings
Oxbridge Health plans are designed to cost employers 10% to 25% less than a comparable PPO or HMO plan with the same benefits. For covered episodes such as knee replacements, cataract surgeries, or annual diabetes care, members see guaranteed prices from local care groups before treatment. The employer sets a coverage allowance, so members know in advance what the plan will pay and what they may owe.
The company's analysis of 15 million risk-adjusted commercial episodes across four states found that costs vary several-fold within the same market. Higher cost care groups do not deliver consistently better quality, and most of the total cost gap comes from how much care is delivered, not the price of each service. Oxbridge designed its benefit plans to close that gap while preserving broad choice of doctors and hospitals.
Investment and Commercial Expansion
The Series B round was led by Eir Partners, with participation from Optum Ventures and a group of experienced healthcare leaders. It brings total investment to US$90 million, including capital from the company's founders and early investors. The new capital will support sales and service expansion for employers and brokers, additional geographic markets, and the rollout of Episode Advantage Inside to health plan partners.
The financing follows three years of work to build the data systems, analytics, and software needed to price, guarantee, and administer healthcare by episode of care. Four reinsurers offer stop-loss coverage on Oxbridge plans, providing risk protection for self-funded employers. The company also offers Episode Advantage Inside for health plans and third-party administrators to add episode pricing and guaranteed price capabilities to existing benefit plans.
Leadership and Market Context
Oxbridge Health was founded by Steve Wiggins, who previously founded Oxford Health Plans and built it into a Fortune 300 company. Wiggins later founded Remedy Partners, which grew into an episode-based payment program covering approximately US$7 billion in healthcare spending for Medicare beneficiaries. He said the company chose partners that understand how difficult it is to change the way healthcare is paid for.
Chief Executive Officer Will Herling said employers have been told the only ways to control healthcare costs are to narrow networks, restrict benefits, or shift more of the bill to employees. He added that healthcare is one of the few major purchases where no one knows the price until after the service. Herling said the plan shows the price first and lets employers decide how much they will pay for an episode of care.
Brett Carlson, Managing Partner of Eir Partners, said Oxbridge is the first company to address the wide variance in episodic cost for treating the same patient. He noted that the company has used advanced analytics and AI to create a new way of thinking about health insurance coverage. Carlson added that every employer should ask their broker for a quote for 2027 coverage.
With US$90 million in total investment and commercial operations underway, Oxbridge Health is entering the employer benefits market at a time when cost predictability remains a major concern. The company plans to prove savings one renewal at a time by offering guaranteed episode prices and employer-defined coverage allowances. Employers and brokers in Texas, New York, New Jersey, and Connecticut can request quotes for 2027 through the company's website.