Ex-Memora Health CEO Manav Sevak Launches Novitas Holdings Following Commure Acquisition

SAN FRANCISCO, March 5, 2026 /PRNewswire/ -- Novitas Holdings, a technology-focused investment firm founded by former Memora Health CEO Manav Sevak, has officially launched to support founder-led companies across multiple industries. According to Novitas Holdings, the firm combines financial backing with hands-on operational and strategic guidance designed to help startups navigate early-stage growth and long-term expansion. The launch follows Sevak's exit from Memora Health after the company's acquisition by Commure.

The acquisition of Memora Health by Commure, a provider of healthcare operating systems, closed in mid-2024. While financial terms were not publicly disclosed, the transaction represented an important milestone for both organizations. Memora's patient engagement technology is now integrated into Commure's unified platform, expanding the company's ability to deliver scalable digital infrastructure for healthcare providers.

According to Novitas Holdings, the firm builds upon the operational experience gained during the growth of Memora Health. Under Manav Sevak's leadership, Memora developed a platform designed to automate and personalize patient communication for healthcare systems. The company raised more than $80 million in funding from investors including Y Combinator and Andreessen Horowitz and became known for helping clinicians streamline workflows while improving patient outcomes.

Novitas Holdings aims to extend many of those operational principles to the companies it supports. In addition to providing early-stage investment capital, the firm works closely with founders to provide strategic guidance, operational frameworks, and mentorship designed to help startups scale efficiently.

The firm focuses on companies solving meaningful industry challenges and building products intended for long-term relevance. Novitas Holdings notes that its investment strategy may include both early-stage investments and participation in acquisitions of technology businesses, enabling portfolio companies to accelerate development and expand market reach.

Memora Health's impact on healthcare technology provides important context for the launch of Novitas Holdings. The platform helped healthcare providers automate routine patient interactions such as appointment reminders, intake processes, post-discharge follow-ups, and condition-specific care plans. By reducing administrative burdens, healthcare teams were able to focus more directly on patient care. The platform's ability to integrate into clinical workflows and improve patient engagement contributed to its growth within the healthcare technology sector.

When Commure acquired Memora Health in 2024, the merger combined two organizations focused on modernizing healthcare infrastructure. Memora's patient engagement capabilities became part of Commure's broader healthcare operating system, strengthening the platform's ability to support hospitals and health systems nationwide.

Novitas Holdings describes its model as a technology-enabled investment platform that applies data-driven insights and operational expertise to portfolio companies. In addition to capital investment, the firm collaborates with founders on product development, go-to-market strategies, talent acquisition, and operational scaling.

Through Novitas Holdings, Sevak is focused on supporting entrepreneurs building durable, mission-driven companies. According to the firm, its investment philosophy centers on long-term value creation and strategic collaboration with founders working to solve complex problems across industries.

As Novitas Holdings begins building its portfolio, the firm and its team of experienced operators aim to support the next generation of technology innovators. With a focus on founder-led businesses and sustainable growth, the organization seeks to partner with startups positioned to create meaningful impact within their industries.

About Novitas Holdings

Novitas Holdings is a technology-focused investment firm that partners with founder-led companies across multiple sectors. Founded by former Memora Health CEO Manav Sevak, the firm combines capital investment with operational expertise, strategic guidance, and mentorship to help startups scale effectively. Novitas Holdings works closely with entrepreneurs on product development, go-to-market execution, talent strategy, and long-term growth initiatives.

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Novitas Holdings
Email: press@novitasholdings.com
LinkedIn: https://www.linkedin.com/in/manavsevak/