Our Roots in Definity Health

We came together as a team at Definity Health. Started by Tony Miller and Craig Swanson, Definity was the pioneer in consumer-driven health plans. From its inception in 1998, to its purchase for over $300 million by UnitedHealth Group in 2004, Definity built a successful model of healthcare delivery that placed the consumer at the center. Definity fundamentally changed the healthcare industry, and it remains the market leader in consumer health plans. Many of the core ideas behind Definity still drive the Lemhi Ventures point of view.

The Definity experience also taught us how to work with, and how to be, venture capital investors. Through four rounds of venture financing we received essential funding and indispensable insight and advice from our investors. It is the reason we treat the entrepreneurs with whom we meet with such respect. Launching a new business is an incredible commitment. Launching a business designed to fundamentally change a trillion-dollar industry can seem like lunacy. That leap of faith is at the heart of every great innovation.

Definity taught us that there isn’t only one “direct & practicable” route to creating new business models and new markets in healthcare. There isn’t only one stroke of genius that will transform the industry and shift market power to consumers. There are many paths to change, each with seemingly insurmountable obstacles. To conquer them, we take more than our name from Lemhi Pass… we also take inspiration.