AOL co-founder Steve Case, former Secretary of State Colin Powell and several other investors are launching a private firm aimed at buying promising companies that offer a range of consumer-driven health services. Revolution Health Group will provide patients with information on price and quality of healthcare in convenient retail locations and online. The group is partly owned by a private holding firm called Revolution that Case founded in April. Powell and other investors own the remainder. Case says he will put $500 million of his own money into Revolution, the parent company. The firm’s other investors include Franklin Raines, former CEO of mortgage giant Fannie Mae; Jim Barksdale, former CEO of Netscape; Miles Gilburne, a venture capitalist who worked with AOL; and Steve Wiggins, who founded Oxford Health Plan, a managed care company in New York that was a Wall Street darling until it suffered big losses in 1998.

Source: www.aishealth.com