HCSC Ventures
Healthcare Venture Capital
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Team

Our team

Carl McDonald, CFA, CTP

Carl McDonald is a Divisional Senior Vice President at Health Care Service Corp (HCSC). He serves as the company’s treasurer, with responsibility for HCSC’s investment portfolio, treasury operations, and venture capital investments. He also oversees mergers and acquisitions (M&A) for HCSC, in addition to the management of HCSC’s non-insurance subsidiary portfolio. HCSC is the largest customer-owned health insurance company in the country, operating Blue Cross Blue Shield plans in Illinois, Texas, Oklahoma, New Mexico, and Montana. Mr. McDonald joined HCSC in 2015.

Mr. McDonald serves on the Board of Directors of Alacura Medical Transportation, Availity, Avalon Healthcare Solutions, Blue Health Intelligence, Dearborn National, Dental Network of America, HCSC Ventures, HCSC Insurance Services Company (HISC), Innovista, LTC Reinsurance, Medecision, Plan Investment Fund, TriWest, and Wishbone Club. He is also a board observer at Airrosti and MDLIVE.

Prior to joining HCSC, Mr. McDonald spent 15 years as an equity research analyst, tracking the publicly traded health insurers, most recently at Citigroup, where he was ranked as one of the top analysts in the industry by Institutional Investor’s All America Research survey.

Mr. McDonald holds a B.A. in Economics as well as American Studies from Brandeis University in Waltham, Mass. He is a Chartered Financial Analyst (CFA), and he also holds the Certified Treasury Professional (CTP) designation.

Sahil Choudhry, ASA

Sahil Choudhry is an Assistant Vice President at Health Care Service Corp. (HCSC), managing Corporate Development and Venture Investments for the largest customer-owned health insurance company in the country. HCSC is the Blue Cross Blue Shield plan in Illinois, Texas, Oklahoma, New Mexico, and Montana. He joined Health Care Service Corp. in July 2015.

Sahil serves on the board of directors of Cogitativo, and is a board observer at Avalon Healthcare Solutions and ClearDATA.

Previously, he spent 2 years in equity research at Citigroup, tracking the managed care industry. Prior to Citigroup, Sahil spent 4 years at Towers Watson as a consultant in the Health and Group Benefits practice.

Sahil holds a B.S. in Mathematics as well as Computer Science from New Jersey Institute of Technology in Newark, New Jersey. He is an Associate of the Society of Actuaries.

Alex Vargas

Alex Vargas is an Associate at Health Care Service Corp. (HCSC), supporting the Corporate Development and Venture Investments team for the largest customer-owned health insurance company in the country. HCSC is the Blue Cross Blue Shield plan in Illinois, Texas, Oklahoma, New Mexico, and Montana. He joined HCSC in March 2017.

Previously, Alex spent two years at a private equity firm that invests exclusively in small and emerging lower middle market managers. Before that, he worked on the international finance team at a large retailer.

Alex holds a BA from Northwestern University.