Friday, April 01, 2005
Former AOL Chairman Steve Case to "Revolution"-ize health care
["Another Case Entirely," BusinessWeek, 11 April 2005.]
Steve Case is taking another big risk - this time he's taking on the health care industry and plans to work on bringing consumers the data they need to make informed decisions:
Stephen M. Case, the Internet Age icon who built America Online Inc. and then plunged into one of the most disastrous mergers of the century with Time Warner Inc., certainly didn't walk away from the company unscathed. But if he suffers any lingering anxieties about initiating the deal with Gerald M. Levin that eventually caused the stock to lose $135 billion in market value, fear of failure isn't one of them. He gave up his position as chairman in May, 2003, amid much recrimination and no small amount of frustration and disappointment. Many thought that someone whose empire had so dramatically imploded would, or should, live in self-imposed exile for a while. But Case, then only 44, was wealthy enough and ambitious enough to think he could start anew.
Within days of his departure, Case began talking with his former chief of staff, Donn M. Davis, about putting together a venture that would keep him a safe distance from the world in which his failures were still all too evident. Now, nearly two years later, Case has unveiled to BusinessWeek the details of his new company, Revolution, which he will officially launch on Apr. 4. Revolution is a private holding company that Case is funding with $500 million of his estimated $825 million fortune and that will invest in health care, wellness, and resorts.
Case will spend about half of that $500 million on companies that help patients take a more active role in their treatment. He is interested in those that provide online data about the price and quality of doctors and those that make available electronic medical records; he's considering everything from high-end personalized health coaching services to clinics housed in Target stores. As he says: "Health care is monumentally complex, confusing, inefficient, and inconvenient. Meanwhile it's the biggest industry in the country, and everybody hates it."
[Greg Scandlen, "Choice is revolutionizing health care," The Flint Hills Center, 28 September 2004.]
["Another Case Entirely," BusinessWeek, 11 April 2005.]
Steve Case is taking another big risk - this time he's taking on the health care industry and plans to work on bringing consumers the data they need to make informed decisions:
Stephen M. Case, the Internet Age icon who built America Online Inc. and then plunged into one of the most disastrous mergers of the century with Time Warner Inc., certainly didn't walk away from the company unscathed. But if he suffers any lingering anxieties about initiating the deal with Gerald M. Levin that eventually caused the stock to lose $135 billion in market value, fear of failure isn't one of them. He gave up his position as chairman in May, 2003, amid much recrimination and no small amount of frustration and disappointment. Many thought that someone whose empire had so dramatically imploded would, or should, live in self-imposed exile for a while. But Case, then only 44, was wealthy enough and ambitious enough to think he could start anew.
Within days of his departure, Case began talking with his former chief of staff, Donn M. Davis, about putting together a venture that would keep him a safe distance from the world in which his failures were still all too evident. Now, nearly two years later, Case has unveiled to BusinessWeek the details of his new company, Revolution, which he will officially launch on Apr. 4. Revolution is a private holding company that Case is funding with $500 million of his estimated $825 million fortune and that will invest in health care, wellness, and resorts.
Case will spend about half of that $500 million on companies that help patients take a more active role in their treatment. He is interested in those that provide online data about the price and quality of doctors and those that make available electronic medical records; he's considering everything from high-end personalized health coaching services to clinics housed in Target stores. As he says: "Health care is monumentally complex, confusing, inefficient, and inconvenient. Meanwhile it's the biggest industry in the country, and everybody hates it."
[Greg Scandlen, "Choice is revolutionizing health care," The Flint Hills Center, 28 September 2004.]
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