“We don’t have to do every great deal, but every deal we do has to be great,” says Payal Agrawal Divakaran, partner at .406 Ventures. In this Vanguards of Health Care episode, she joins Bloomberg Intelligence analyst Jonathan Palmer to unpack how .406 backs early-stage startups at the intersection of health care, tech and AI. They dive into the firm’s thesis-driven investing, why care delivery must be reimagined for complex populations and what Epic’s priorities mean for hospital-facing AI startups. Plus, the origins of the firm’s baseball-inspired name and why being mission-driven is non-negotiable for its founders.

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“We truly see ourselves as an operating system for payers,” says David Pierre, CEO of Machinify. Pierre joins Bloomberg Intelligence analyst Jonathan Palmer to unpack how Machinify is using AI to reimagine payment integrity, turning a manual process into a proactive, tech-enabled platform. They discuss Machinify’s formation from four legacy and technology companies, its AI-first claims strategy and how the team is driving real-time adjudication and measurable cost savings. Pierre also shares what he’s learned from Cerner and Signify, and where Machinify is heading next.

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"If a company isn't IPO-ready, it better be M&A-ready," says Nanna Lüneborg of Forbion. She and co-founder Sander Slootweg sit down with Bloomberg Intelligence analyst Sam Fazeli to explain Forbion’s blueprint for success in Europe’s maturing biotech ecosystem. From incubating CNS-focused gene therapy startups to executing €100M+ financing rounds, Forbion’s thesis is rooted in scientific rigor and commercially sound exits. They also share how Europe’s capital scarcity offers hidden advantages—and why late-stage buyers still pay up for must-have innovation.

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