Devoted Health, new Medicare Advantage business, raises $300 million

As open enrollment for Medicare began Monday, in one of the largest healthcare company fundraises of the year, Medicare Advantage business Devoted Health says it's raised $300 million in a Series B round led by Andreessen Horowitz. “The problem is the fact that the system itself is fundamentally not designed in a patient-centric way,” wrote cofounder Ed Park in a post on LinkedIn Tuesday.