Rishi Shah

Outcome Health, a Chicago, Ill.-based healthcare tech company founded by two Indian American entrepreneurs in 2006, has produced a billionaire. Rishi Shah, a co-founder of the company who quit college to become an entrepreneur, joined the Chicago billionaire club recently. His fellow co-founder Shradha Agarwal is not far behind, according to a Chicago Sun-Times report. Shah met Agarwal at Northwestern University in the early 2000s and they started their company after cobbling together their own money. Before accepting venture capital, Shah owned 80 percent of the company; Agarwal 20 percent. Outcome Health places screens in doctor’s offices that run educational content about health topics and advertisements from drug companies. In November 2017, big-name investors sued Outcome Health, CEO Rishi Shah and President Shradha Agarwal, alleging fraud as the company secured $487.5 million in funding and rose to a valuation of about $5.5 billion. Since the lawsuit was filed, hospitals have backed away from the fast-growing company, and investors have filed court documents indicating they received subpoenas from the Justice Department. The American Medical Association said in a statement that it was severing ties with the Chicago company. Though it had no financial relationship with Outcome, the startup had been donating screen time to the association for public service announcements about prediabetes.