Two former RedBrick Health executives, including a founder in 2006, have joined another Minneapolis-based health-technology firm, Revel, which recently also raised capital.
Health IT, including companies like Revel and RedBrick, which focus on digital-wellness programs to get employees and insureds doing what they should to stay healthy, have attracted hundreds of millions nationally in capital over the last 15 years in the elusive quest to suppress runaway health care costs.
Kurt Cegielski, a founder of RedBrick in 2006, joined Revel as senior vice president of client success. Ryan Schoenecker, also a former RedBrick executive, joined Revel as head of sales and marketing.
“As Revel grows, we’re adding infrastructure at the executive level to maintain alignment to our overall strategy and support the Revel teams working directly with our customers,” said CEO Jeff Fritz. “Both Kurt and Ryan bring significant experience within the healthcare industry as well as strong leadership acumen.”
RedBrick, which raised at least $75 million in venture capital between 2006 and 2013 and grown to 150-plus people, sold this year to the much larger Rhode Island-based Virgin Pulse, part of Richard Branson’s Virgin empire, for an unspecified amount.
In late 2017, Revel, a software firm that contracts with insurers, received a $17 million investment from Minneapolis-based TT Capital Partners.
Revel CEO Fritz, 49, a veteran health-technology executive, has doubled employment to 67 this year. The fast-growing, North Loop-based firm is “now managing health action programs for three of the four largest healthcare companies in the United States.''
One is believed to be Minnetonka-based UnitedHealth.
Insurers hire Revel to use technology to prompt people to get their checkups, cancer screenings or take at-home steps to maintain or improve acute conditions or general health.