Memorial Hermann Health System invests $3.2B in digital health billing startup Cedar 

December 19, 2022 – Cedar, an enterprise healthcare engagement platform that improves the end-to-end consumer financial journey, today announced that Memorial Hermann Health System, a nonprofit, award-winning health system committed to creating healthier Houston communities, has joined the company’s growing list of strategic investors. 

Cedar said it aims to transform the patient financial experience by empowering individuals to easily and affordably pursue the care they need. Its digital portfolio is designed to facilitate financial interactions throughout the patient journey, from appointment confirmation and price estimates pre-service to final payment post-service. 

“Our organization’s goals very much align with Cedar’s in that we also aim to make healthcare more affordable and accessible while providing a highly personalized and compassionate patient experience, Alec King, Memorial Hermann executive vice president and CFO, said in a Dec. 19 news release. “That’s one of the many reasons we made the strategic decision to invest in Cedar.”  

In November, Cedar launched Payer Intelligence Layer, which consolidates payer and provider data into a single source of information for consumers managing medical bills. 

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