Todd Cozzens

Co-founder & Managing Partner

About Todd

Todd Cozzens brings to Transformation Capital more than thirty years of experience in the digital health industry that includes founding, operating, building, investing in and exiting innovative and market leading companies.  He has a history of creating value both as an operator and as an investor co-founded Transformation Capital’s predecessor management company, Leerink Transformation Partners LLC, in 2016 and serves on the boards of four Fund I portfolio companies: Health Catalyst, PatientPing, PatientPop and LetsGetChecked (Chairman), and Kyruus (observer).

Previously, Todd co-led digital health investing at Sequoia Capital with Transformation Capital Managing Partner Mike Dixon. Todd joined Sequoia Capital in 2012 and helped build several breakthrough companies in digital health alongside Mike where they both were board members of Health Catalyst (IPO in 2019), AirStrip and MedExpress (sold to UnitedHealth Group for over $1.5 billion).   He was also on the board of ZirMed (acquired by Bain Capital in 2017 for over $800 million) and SCIO Health Analytics (acquired by EXL Service in 2018).  Todd remains on the board of Natera (IPO in 2015, current market cap of approximately $3.3 billion)

Prior to investing, Todd was a founder, CEO and operator of two digital health companies taking one public (Marquette Medical) and later selling it to GE and founding, seeding and leading the other (Picis) as CEO and selling it to UnitedHealth Group

Picis was a specialty electronic medical records business that became a worldwide leader in high-acuity electronic medical records, automating operating rooms, intensive care units and emergency departments of more than 2,000 hospitals in twenty-three countries. Todd co-founded and provided seed capital for Picis and the company was acquired by UnitedHealth Group in 2010 as the company was preparing to file to go public.

Following the acquisition of Picis, Todd joined UnitedHealth Group, the largest commercial health insurer in the world, and helped form its Optum subsidiary, which, today, at over $120 billion in annual revenue, has become one of the most important companies in the digital health landscape, as well as an active acquirer of growth equity-backed digital health businesses.

Before his role in strategy and M&A at Optum, Todd also started a new business unit, Optum Accountable Care Solutions, to enable health systems to bear actuarial risk and transition to value-based care and served as Chief Executive Officer of the unit, which built a revenue base of more than $400 million in 18 months.

Earlier in his career, Todd was the president of a division of Marquette Medical Systems Inc., where he led international sales expansion from 2% to 40% of that company’s revenue.  Todd also co-led Marquette Medical’s initial public offering and assisted in its subsequent sale to GE for more than $800 million.

During Todd’s operating tenures at Marquette Medical and Picis, he was directly involved in raising more than $400 million in venture capital, growth equity, private equity and institutional capital and led six acquisitions which helped further differentiate and grow the parent companies.

Todd graduated from Marquette University, and completed Harvard Business School’s Program for Management Development.

Todd was a member of the US Sailing Team for three Olympiads, reaching a No. 2 worldwide ranking and winning several North American and European championships, two Bacardi Cups and a gold medal in the Pan American Games.

Todd gave up grand prix sailing competition to focus on his other babies – the companies he founded and led and his family, wife Carme, daughters Chloe and Chantal. He has been trying to replace sailing with golf for ten years but admits that course records where he plays are in absolutely no danger of being broken when he’s playing.

Investment Experience

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Volunteering & Leadership