Venture funding in the overall health tech market fell 27% from 2022Read more...
Optum bought Change Healthcare; Cigna's Evernorth purchased MDLIVE; Centene acquired Magellan Health
For all the problems that COVID caused, and there were many, 2020 turned out to be a good year for those in the innovation side of healthcare. It was a record year for healthtech investments, growing 44 percent from $10.6 billion in 2019 to $15.3 billion, but it wasn't only companies raising money that saw an increase: according to Mercom Capital, there were 184 M&A transactions in 2020, up 9 percent compared to 169 in 2019.
That included Teladoc buying Livongo for $18.5 biillion, Blackstone acquiring Ancestry for $4.7 billion and GRAIL getting bought by Illumina for $8 billion.
Things have not slowed down at all in 2021 in the M&A department at all. In fact, in the first two months of this year there were already around 30 deals announced of healthtech companies making acquisitions, or being acquired themselves, with a few already rivaling those big deals from last year.
Here are the healthtech acquisitions announced so far in 2021:Evernorth, the health services portfolio of Cigna, acquired virtual care delivery platform MDLIVE.
Date: February 26
Price: Not disclosed
Cigna launched Evernorth in September as a way "to accelerate delivery of innovative and flexible health service solutions." This company says that the addition of MDLIVE is meant to help expand Evernorth's capabilities to deliver a more affordable, convenient and connected patient care experience.
"Customers expect more convenient care interactions, and COVID-19 has rapidly accelerated this need. We see an immediate opportunity to build a new model of care delivery, one that delivers a connected experience with greater affordability, predictability and simplicity. With the opportunity to serve millions more people, and with more personalized ways to deliver care, we will have an even greater impact on our customers, clients and partners," Tim Wentworth, Chief Executive Officer of Evernorth, said in a statement.
"Combining MDLIVE's platform and strong network for virtual providers with our comprehensive care solutions, we will be better positioned to optimize the care journey to improve affordability and accessibility, and to deliver superior support to health plans as they advance their own care delivery models for the future."
Founded in 2006, MDLIVE is a telehealth provider, which has over 40 million members nationwide. The company treats over 50 non-emergency conditions, including colds, allergies, and insect bites, while also providing behavioral health services and dermatology.
Cigna and MDLIVE had previously partnered as far back as 2013, offering the MDLive program in June to employers with self-insured health plans. The two companies expanded that partnership in 2020, giving patients access to primary care doctors through MDLIVE's telemedicine platform.
Prior to the deal, MDLIVE had raised $198.6 million in venture funding from investors that include Heritage Group, Sutter Health, Kayne Anderson Capital Advisors, and former Apple CEO John Sculley. UnitedHealthCare's Optum purchased Change Healthcare, a healthcare technology company that focuses on accelerating the transformation of the healthcare system.
Date: January 6
Price: $13 billion
When the deal closes, which is expected to happen in the second half of the year, Change Healthcare will join with OptumInsight to provide software and data analytics, technology-enabled services and research, advisory and revenue cycle management offerings. OptumInsight provides data, analytics, research, consulting, technology and managed services solutions to hospitals, physicians, health plans, governments and life sciences companies.
Upon closing, Neil de Crescenzo, President and CEO of Change Healthcare, will serve as OptumInsight’s chief executive officer, leading the combined organization.
The deal will combine Change Healthcare's technology for integrating evidence-based clinical criteria directly into the clinician’s workflow with Optum’s clinical analytics expertise and Individual Health Record. Together they will be able to enhance with insights drawn from billions of claims transactions using Change Healthcare’s intelligent health care network, combined with Optum’s advanced data analytics. It will also combine Change Healthcare’s payment capacities combined with Optum’s automated payment network to simplify financial interactions among care providers, payers and consumers.
“This opportunity is about advancing connectivity and accelerating innovations and efficiencies essential to a simpler, more intelligent and adaptive health system. We share with Optum a common mission and values and importantly, a sense of urgency to provide our customers and those they serve with the more robust capacities this union makes possible,” de Crescenzo said in a statement.
Founded in 2017, Change Healthcare had raised $48 million in venture capital from HLM Venture Partners, Mitsui Global Investment, BlueCross BlueShield Venture Partners, Sandbox Industries, Noro-Moseley Partners, West Health Investment Fund, Omidyar Network, and Solidus Company.Philips acquired Capsule Technologies, a provider of medical device integration and data technologies for hospitals and healthcare organizations.
Date: January 19
Price: $635 million
Founded in 1997, the Andover, Massachusetts-based Capsule provides a medical device information platform that is comprised of device integration, vital signs monitoring and clinical surveillance services, connecting medical devices and EMRs in hospitals through a vendor-neutral system.
“The next frontier for the healthcare industry is using value-based and outcomes-driven messaging to connect the right patients to the right treatment at the right time,” Jim Weiss, Founder and CEO of W2O, said in a statement.
“In the increasingly digital post-pandemic era, we need to help our clients move faster and with more precision and efficiency to conduct clinical trials, launch new products, maximize peak revenue opportunities, and successfully navigate product lifecycles. The acquisition of Swoop and IPM.ai enables this game-changing approach – with the goal of improving healthcare from bench to bedside.”Microbial sciences company Seed Health acquired Auggi, a company that uses artificial intelligence and machine learning to track and analyze digestive health.
Date: February 8
Price: Not disclosed
Founded in in 2018, Auggi provides users with an app where they could set up a tracking journey and report data. The algorithm would use AI to get that user the results so they could understand what was wrong with them.
The company's platform includes an AI algorithm for real-time Bristol stool typing, a chart that classifies human stool into seven categories; by using AI and ML, Auggi can accurately detect and characterize stool with 94.07 percent accuracy. Auggi also has the world's largest stool image database, and a mobile monitoring application for clinical research.
Founded in 2017, Seed Health, which says that it is "pioneering applications of bacteria to impact human and environmental health," plans to integrate Auggi's mobile tracking application into its human clinical trials, in which it assesses DS-01, its flagship probiotic, and the gut microbiota in IBS, constipation, and after antibiotic consumption. The belief is that Auggi's technology will help improve adherence and outcomes.
"Stool is one of the most valuable, but stigmatized, biomarkers of gastrointestinal health. Tracking and accurate characterization could empower individuals and their providers with important, actionable insights," Ara Katz, co-founder and co-CEO of Seed Health, said in a statement.
"Building on recent research that explores digital augmentation of an intervention, we are also developing applications of Auggi's AI to improve adherence and outcomes when used in combination with DS-01. We are excited to build on Auggi's vision and inspire novel uses of their technology."
The launch of Seed Health's first consumer-focused digital product, which will use Auggi's AI and stool database, is expected to be released something this year. In addition, the company is also currently testing a companion tracking and educational experience for DS-01.
Prior to being acquired, Auggi had raised $100,000 in a pre-seed round from MIT delta v and Cornell University.Well Health Technologies, the owner and operator of a portfolio of primary healthcare facilities, acquired CRH Medical Corporation, a provider of anesthesia for patients that undergo endoscopic procedures.
Date: February 8
Price: $4.00 per share, for a purchase price of approximately $292.7 million and a transaction value of approximately US$369.2 million inclusive of credit facility.
Founded in 2000, CRH has completed 31 anesthesia acquisitions, and now serves 69 ambulatory surgical centers in 13 states. In addition, CRH owns the CRH O'Regan System, a single-use, disposable, hemorrhoid banding technology that is safe and highly effective in treating all grades of hemorrhoids.
The company had raised $138.9k in venture funding before going public in 2003.
"This transaction is the logical next step for CRH as WELL adds CRH to its portfolio of healthcare related businesses" Tushar Ramani, CEO of the CRH, said in a statement.
"Since joining the Company, my mandate has been to drive the value of CRH through organic and acquisitive growth, and the results of those efforts are reflected in the premium being paid to shareholders in this transaction."CRH Medical Corporation, a provider of anesthesia for patients that undergo endoscopic procedures, acquired Oak Tree Anesthesia Associates, a gastroenterology anesthesia practice
Date: February 9
Price: Not disclosed
Oak Tree has an estimated annual revenue of $1.5 million
"The acquisition of Oak Tree represents our first acquisition in New Jersey, as well as our first acquisition in 2021. We now provide services to 70 ambulatory surgery centers across 14 states, and our robust business development pipeline should support additional growth opportunities for CRH as we progress through 2021," Dr. Tushar Ramani, CEO of CRH, said in a statement.
Itamar Medical, a medical device and digital health company focused on the integration of sleep apnea management into the cardiac patient care pathway, entered into a definitive agreement to acquire technology and assets of wearables company Spry Health.
Date: January 12
Price: Not disclosed
Founded in 2013, Spry Health is the developer of a wrist-based medical grade remote patient monitoring (RPM) solution. The acquisition will allow Itamar to leverage Spry’s technology to bring to market the first device for continuous RPM of sleep apnea.
“As we sought opportunities to build on our vision of expanding sleep apnea diagnostics from a single-night test to continuous remote patient monitoring, we identified the technology commercialized by Spry Health as a perfect fit,” Gilad Glick, President and CEO of Itamar Medical, said in a statement.
“The acquisition of their FDA-cleared, wrist-worn technology and the addition of a knowledgeable pool of selected talented engineers, led by Spry co-founder and CTO Elad Ferber, provides an excellent platform for us to jump start our development initiatives to bring to market a continuous sleep apnea monitoring device to further support chronic disease management, particularly as it contributes to the added burden on cardiovascular disease.
Spry Health had raised $8.5 million in funding from Stanford-StartX Fund, OVO Fund, AAF Management, Think + Ventures, Grove Ventures, Q Venture Partners, MedTech Innovator, Shorooq Partners, Three Fish Capital, Safa Rashtchy, Eric Chen, and Enspire Capital.Drug wholesale company AmerisourceBergen acquired the majority of Walgreens Boots Alliance’s Alliance Healthcare businesses. Walgreens Boots Alliance is the holding company that owns Walgreens, among other assets.
Date: January 6
Price: approximately $6.5 billion, comprised of $6.275 billion in cash and 2 million shares of AmerisourceBergen common stock
In addition to the acquisition, the two companies also agreed to strengthen their strategic partnership by extending and expanding their US distribution agreement by three years until 2029. The partnership is also being expanded to include a commitment to pursue additional opportunities in sourcing and distribution.
In addition, Alliance Healthcare UK will remain the distribution partner of Boots until 2031.
“AmerisourceBergen’s vital role in the health system as a key pillar of pharmaceutical innovation and access has been on full display over the past year,” Steven Collis, Chairman, President and CEO of AmerisourceBergen, said in a statement.
“Today’s announcements will expand our reach and solutions in pharmaceutical distribution and add to AmerisourceBergen’s breadth and depth of global manufacturer services, supporting our ability to create differentiated value for all our stakeholders."
AmerisourceBergen and Walgreens Boots Alliance began partnering in 2013. Walgreens Boots Alliance is the largest shareholder of AmerisourceBergen, with a stake of nearly 30 percent.
The transaction is expected to close by AmerisourceBergen’s fiscal year-end 2021. Healthcare insurance company Centene acquired Magellan Health, a healthcare management organization that focuses on managing behavioral healthcare and diagnostic imaging.
Date: January 4
Price: $95 per share in cash for a total value of $2.2 billion.
Once the transaction is finalized, which is expected to happen in the second half of 2021, Centene will establish a behavioral health platform for its 41 million members with capabilities to deliver better health outcomes for complex, high-cost populations. Magellan Health will bring 5.5 million new members to Centene on government-sponsored plans; the company also provides specialty health services for 18 million third-party customer members, and it will adds 2 million PBM members and 16 million medical pharmacy members.
As part of Centene's Health Care Enterprises, Magellan Health will continue to independently. Ken Fasola, CEO of Magellan Health, and other members of Magellan Health's leadership team, have agreed to join Centene.
"There is a critical need for a fundamentally better approach to supporting people with complex, chronic conditions through better integration of physical and mental health care. This has become even more evident in light of the pandemic which has driven a dramatic rise in behavioral health needs," Michael F. Neidorff, Chairman, President and CEO of Centene, said in a statement.
"This acquisition accelerates our diversification strategy and enhances our ability to build next generation capabilities in our specialty care business by leveraging our scale and investments in technology. Furthermore, we are very familiar with the range of Magellan Health's healthcare solutions as we have been one of their customers over many years, and our shared commitment to taking care of the most vulnerable populations makes this transaction a natural step."
Founded in 1969, Magellan had raised $101 million in funding before going public in 2004.Volpara Health, a breast care platform, acquired CRA Health, a breast cancer risk assessment company.
Date: February 1
Price: $18 million, with a further $4 million payable upon its meeting key performance targets over the next 18 months
Founded in 2007, CRA was a spinoff from Massachusetts General Hospital, a Harvard Medical School teaching hospital. The company, which conducts more than 2 million assessments annually, receives patient information, including breast density, and returns the risk of breast cancer alongside appropriate recommendations.
Volpara, founded in 2009, is an AI software platform that collects and analyzes information to better understand a patient's breast cancer risk, while also evaluating image quality and workflow-improvement opportunities. The company is also extending its capabilities to lung cancer screening as well.
"The acquisition of CRA is very significant for Volpara. CRA is a leading provider of risk assessment tools within major EHR systems and has integrations already established with the main genetics companies. CRA brings world-class knowledge about risk and genetics. CRA will accelerate us on our mission to save families from cancer by preventing advanced stage breast cancer," Dr. Ralph Highnam, Group CEO of Volpara, said in a statement.Hologic, a medical technology company primarily focused on improving women’s health, acquired SOMATEX Medical Technologies GmbH, a German provider of biopsy site markers and localization technologies.
Date: January 4
Price: approximately $64 million
Hologic made the acquisition to build a suite of innovative solutions across the continuum of breast health care. Specifically, SOMATEX’s products will allow Hologic to strengthen and further expand its breast marker portfolio. The acquisition will also allow Hologic to enhance its sales presence in Europe by expanding its direct channel in Germany and its network of regional and international distributor partners.
“The acquisition of SOMATEX allows us to expand our biopsy portfolio by providing a suite of market-leading solutions that not only address our customers’ needs, but also improve the biopsy experience for their patients,” Jennifer Meade, Hologic’s Division President, Breast and Skeletal Health Solutions, said in a statement.
“We’ve had a strong partnership with SOMATEX for several years, which along with our shared focus on innovation, will allow us to quickly integrate and begin building a pipeline that will drive profitable growth and recurring revenue for our breast health business globally.”
Founded in 1992, SOMATEX specializes in the development and manufacturing of minimally invasive devices in the areas of tumor diagnostics, biopsy and interventional specialties. Its product portfolio includes the Tumark family of tissue markers, and the company is expected to generate approximately $13 million of revenue in calendar 2020.
The company was previously owned by E-Med Solutions GmbH, Berlin, a group of investors led by German private equity company Westlake Partners.Cedar Gate, a value-based care performance management company, acquired Enli Health Intelligence, a provider of population health management technology solutions.
Date: January 5
Price: Not disclosed
The acquisition, which closed on December 31, 2020, adds electronic health record (EHR) integration to Cedar Gate's enterprise platform, which includes prescriptive performance management analytics, intelligence reporting, care management and care coordination software and services, enabling success for any healthcare entity.
"Cedar Gate continues to innovate value-based care delivery solutions for payers, providers, employers and Administrative Services Organizations (ASOs)," David B. Snow Jr., CEO of Cedar Gate Technologies, said in a statement. "
By adding Enli's population health management solutions to our enterprise platform, all at-risk healthcare constituents, at any point on the value-based care continuum, can accelerate their journey to positive financial results and superior outcomes."
Founded in 2002, Enli had raised $29.6 million in venture funding from SmartForest Ventures, Shelter Capital Partners, and Voyager Capital.Conversational AI companyacquired Saykara, a startup focused on developing a mobile AI assistant to automate clinical documentation for physicians.
Date: February 8
Price: Not disclosed
Saykara was founded in Seattle in 2015 by Harjinder Sandhu, PhD. Sandhu and Saykara's team of engineers, machine learning experts, and technology executives will join Nuance's research and development team.
The acquisition will continue Nuance's expansion of market and technical leadership in AI and ambient clinical intelligence (ACI) solutions that reduce clinician burnout, enhance patient experiences, and improve overall health system financial integrity. It has partnered with 90 percent of U.S. hospitals and 85 percent of the Fortune 100 companies worldwide.
"The complementary technology built by the Saykara team aligns strongly with our technology portfolio and growth strategy as well as the needs of our clients," said Joe Petro, Nuance Executive Vice President and Chief Technology Officer.
"This acquisition welcomes some familiar and highly respected technology leaders whom I am excited to have join our research and development team, which consists of the best and brightest minds in applying AI and machine learning to healthcare. With a shared vision, we will continue our aggressive focus on innovation, growth, and on delivering industry-leading AI-powered solutions that meaningfully address the compelling business problems that our healthcare clients and their clinicians face every day."
Saykara had raised $7.5 million in venture funding from SpringRock Ventures, Madrona Venture Group, Elevate Innovation Partners, and New York Presbyterian Ventures.ICON, a provider of outsourced drug and device development and commercialisation services, agreed to acquire PRA Health Sciences, provider of product development and data solution services to pharmaceutical and biotechnology companies.
Date: February 24
Price: $12 billion, with the per share merger consideration consisting of $80 in cash and 0.4125 shares of ICON stock.
The acquisition, which is expected to close in Q3 of 2021, will combine PRA’s mobile and connected health platforms and real world data and information solutions with ICON’s Accellacare site network, home health services and wearables expertise.
“The combined company will create a new paradigm for accelerating clinical research and bringing new medicines and devices to market. Both ICON and PRA have track records of robust growth and performance and we are ready to build on this unrivalled position of strength, utilising the outstanding talent in both organisations. With broader and deeper operational scale combined with innovative technology and real world data solutions, we will enable all customers to reduce their development time and cost. We will be the leading provider of de-centralised and hybrid trial solutions through the integration of our data capabilities, health platforms and Accellacare site network. The transaction will be highly accretive from full year 1 post-close,” Dr. Steve Cutler, CEO of ICON plc, said in a statement.
Once completed, the combined company will be headquartered in Dublin, Ireland. Cutler, Chief will continue to serve as CEO, while Colin Shannon, Chairman and CEO of PRA Health Sciences, will join the company's board, along with one additional board member from PRA.Accolade, a provider of solutions that help people better understand, navigate and utilize the healthcare system and their workplace benefits, acquired Innovation Specialists, an Expert Medical Opinion and medical decision support company.
Date: January 14
Price: $460 million, consisting of $230 million in cash, $130 million in Accolade common stock, and up to $100 million of Accolade common stock payable upon the achievement of defined revenue milestones following the closing
Founded in 2011, combining the Houston-based 2nd.MD's solution with Accolade’s health and benefits solutions and clinical service offerings, is meant to simplify the healthcare experience for employees. The idea is to also increase ROI for employers by ensuring their employee populations are receiving appropriate care and reducing unnecessary treatment in high-cost scenarios.
Accolade will continue to offer 2nd.MD’s service on a stand-alone basis as well.
“We share a common vision to help every person live their healthiest life by dramatically improving quality and accessibility of care through a people-focused, clinically-driven support model. Bringing 2nd.MD’s world-class Care Team and digital approach with expert medical consultation into Accolade, and continuing to offer it on a stand-alone basis, will have an immediate and measurable impact for our customers, their employees, and the health plans we work with,” Rajeev Singh, CEO of Accolade, said in a statement.
“Both companies have built deep relationships with employers and health plans by helping employees navigate the increasingly complex and inconsistent healthcare system. With the addition of 2nd.MD, we’ll nearly double our total addressable market while providing the most comprehensive, integrated healthcare navigation experience available.”
2nd.MD is a partner with over 300 employers and the country's top health plans. It connects more than 7 million people to over 900 nationally recognized, board-certified medical specialists covering all adult and pediatric specialty conditions.
The transaction was expected to close by the end of February 2021.Foothold Technology, a cloud-based behavioral health and human services EHR software provider, acquired Relevant Health Homes, a care management platform for Health Homes in New York, from Relevant Healthcare.
Date: February 10
Price: Not disclosed
Relevant Health Homes, which was launched in 2012 as an internal project at Community Healthcare Network, builds digital tools to support community health providers. Its analytics and population health platform is used by more than 45 community health centers across the country.
Foothold Technology, which was founded in 2000, provides a software platform for case management, client tracking, treatment planning, and homeless information management, and allows for participation in Health Information Exchanges (HIEs) and Regional Health Information Organizations (RHIOs). It serves more than 1,000 human service organizations.
The Relevant Health Homes product will become known as Foothold Care Management. The entire Relevant Health Homes team has also joined Foothold, while co-founder Jacob Hodes has joined Foothold as VP of Care Management, and will continue to lead the Health Homes team.
“Relevant and Foothold share similar roots and similar missions. Our teams are deeply committed to the agencies we serve and to the people those agencies serve,” Tyler Hoffman, CEO of Foothold, said in a statement.
“I am thrilled to work with Jacob and welcome the Relevant Health Homes team to the Foothold family. They’ve built an exceptional product, deep customer relationships, and an amazing culture. Together, we can accelerate growth of the Health Homes product as Foothold Care Management, and mutually serve our customers better than we could have before.”symplr, a healthcare governance, risk management, and compliance software-as-a-service platform, acquired Phynd Technologies, a provider of data management and provider search solutions
Date: January 25
Price: Not disclosed
The acquisition will add Phynd's leading provider directory management SaaS platform to symplr's platform. Going forward, symplr's provider data management SaaS platform will be able to offer hospitals, health systems, and health plans a pathway for leveraging symplr's credentialing and privileging data in several patient-facing applications, including provider directory, provider search, digital front door, and provider scheduling.
"We're very excited to welcome Phynd to the symplr family," said BJ Schaknowski, CEO of symplr, said in a statement.
"Their SaaS solutions will integrate with our provider software solutions to create an unmatched end-to-end provider data management platform for hospitals, health systems, and payers. This addition will deliver unparalleled value to our customers."
Founded in 2012, the Dallas-based Phynd had raised $11.4 million in venture funding from MemorialCare Innovation Fund, Orlando Healthcare Ventures, Rex Health Ventures, Tony Morris, and Invest Nebraska.Aspirus Health, a non-profit, community-directed health system, acquired ownership of seven hospitals, 21 physician clinics, and air and ground medical transport services from Ascension in Wisconsin.
Date: January 12
Price: Not disclosed
Ascension is the largest non-profit and Catholic health system in the U.S., operating more than 2,600 sites of care, including 145 hospitals and more than 40 senior living facilities, in 19 states and the District of Columbia. In Wisconsin, it operates 24 hospital campuses, more than 100 related healthcare facilities and employs more than 1,200 primary and specialty care clinicians from Racine to Eagle River.
Aspirus serves communities through four hospitals in Michigan and six hospitals in Wisconsin, 50 clinics, home health and hospice care, pharmacies, critical care and air-medical transport, medical goods, nursing homes and a broad network of physicians.
“Aspirus is committed to creating thriving, healthy rural communities,” Matthew Heywood, President and CEO of Aspirus Health, said in a statement.
“We are looking forward to welcoming these new team members into the Aspirus family and to expanding access to local primary care and specialty services to create a more seamless health care experience for thousands of rural Wisconsin residents.”Rethink First, a provider of treatment tools for autism spectrum disorders, acquired Whil, a digital provider of mindfulness, stress resilience, mental well-being and sustainable performance solutions.
Date: February 2
Price: Not disclosed
Whil, which launched in 2014, provides enterprise solutions to more than 250 customers worldwide through its science-based training platform, which leverages more than 300 evidence-based studies and more than 35 of the world's leading MDs, Ph.D.s and Certified Experts.
Founded in 2007, Rethink currently serves thousands of clients globally, including more than 25 of the Fortune 100 and many of the country's largest public school systems and health plans.
The acquisition of Whil acquisition provides clinically validated and science-based solutions to those in need of mental and behavioral health support.
"In today's world, 1 in 6 children is working to overcome a developmental disability, and almost all children and their caregivers are facing stress and emotional pressure at levels that we've never seen before," Daniel Etra, CEO and co-founder of Rethink First, said in a statement.
"In the workplace, adults are also facing a mental health crisis, with over 80% of Human Resource leaders saying that their employees' mental well-being is their No. 1 concern. By combining the efforts of Rethink and Whil, we are uniquely positioned to provide critical behavioral health resources to everyone in need and to accelerate innovation in the industry."
The New York City-based Rethink First has raised $12.4 million in venture funding from Rethink Education, Beringea, InvestMichigan, and Arboretum Ventures. Telehealth company CloudMD acquired three companies: Aspiria, a provider of suite of mental health and wellness solutions for all employer and educational sectors; RXI Group, a specialty drug wholesaler, pharmacy and technology/patient support program administrator; and VisionPros, an eCommerce platform for contact lenses and glasses.
Dates: Aspiria: January 18
RXI Group: January 26
VisionPros: February 16
Prices: Aspiria was bought for $2.8 million, RXI Group was bought for $9.5 and VisionPros was purchased for $30 million.
Aspiria provides a technology-driven mental health support solution that gives access to clinical services for mental and situational life issues impacting wellbeing. It currently serves over 750 organizations, with 1 million employees, students, and their families, in Canada and internationally. It will become part of CloudMD’s Enterprise Health Solutions Division.
“Becoming part of the CloudMD family means we can do even more to inspire and motivate organizations on their journey to better health. This is just the beginning because we’ll be able to change the landscape of how mental health solutions are provided to students, employers, and individuals, by innovating faster, providing more choices, and providing continuity of care to support shifting organizational health and wellness needs,” said Charles Benayon, Founder & CEO of Aspiria, in a statement.
From Rxi Group, CloudMD acquired acquire Rx Infinity Inc., Rxi Pharmacy Inc., and Rxi Health Solutions Inc., to enhance its specialty health services to patients, providers, payers and manufacturers in Canada.
Rx will be integrated with CloudMD's electronic medical records software, educational resources, healthcare navigation and enterprise health services. CloudMD will have access to Rxi’s network of 500 independent pharmacies to provide better, more localized, access to care.
“CloudMD’s acquisition of Rxi represents a transformational shift in the evolution and delivery of highly specialized patient support programs. Rxi will be able to optimize and cross-sell into CloudMD’s current client network by offering manufacturers and payers more comprehensive solutions and real-time visibility into the patient journey, something that has been lacking in our industry for well over a decade. CloudMD’s telemedicine expertise combined with Rxi’s universal disease management experience and customizable software will significantly improve communication and transparency across multi-disciplinary stakeholder groups; thus, enabling quicker access to treatments and improved clinical treatment outcomes,” Christian Marcoux, CEO of Rxi, said in a statement.
VisionPros has serviced almost one million customers across North America and secures the CloudMD's footprint across North America.
“This is a significant acquisition for our business, which not only adds meaningful high margin revenue, but also provides us with an established e-commerce platform and almost 1 million customer accounts. VisionPros’ disruptive tele-optometry platform aligns with our vision of providing patient-focused, whole-person care and will allow us to leverage a number of our technologies and integrate our solutions into one seamless patient experience,” Dr. Essam Hamza, CEO of CloudMD, said in statement.
Haemonetics, a provider of blood and plasma supplies and services, acquired Cardiva Medical, a manufacturer of vascular closure systems.
Date: January 20
Price: An upfront cash payment of $475 million at closing, and up to an additional $35 million in contingent consideration based on sales growth
Cardiva's portfolio includes two catheter-based vascular access site closure devices: the VASCADE vascular closure system, which is designed for "small-bore" femoral arterial and venous closure, and the VASCADE MVP vascular closure system, which is designed for "mid-bore" multi-access femoral venous closure. Both devices include Cardiva's collapsible disc technology and a resorbable collagen patch to achieve hemostasis.
"We are excited to add Cardiva's vascular closure technology to our portfolio and look forward to welcoming their talented team. This acquisition immediately expands and diversifies our hospital offerings in the large and growing interventional cardiology and electrophysiology markets and aligns with our innovation agenda," Chris Simon, Haemonetics' President and CEO, said in a statement.
Founded in 2002, Cardiva had raised $181.2 million in venture funding from investors that include Evidity Health Capital, Luther King Capital Management,, PTV Healthcare Capital, Trivenures, Amkey Ventures, GE Capital, Sycamore Ventures, Galen Partners, Harbinger Ventures, Stockton & Partners, and WI Harper Group.
The acquisition is expected to be completed in the first quarter of calendar 2021. Telehealth company HealthHero acquired MyClinic, a holistic telehealth provider.
Price: Not disclosed
The acquisition of the Dublin-based MyClinic gives the London-based HealthHero now has a direct-to-consumer offer in Ireland, having previously provided services via insurance companies and through businesses to their employees.
Founded by doctors Daniel Clear, James Ryan, and Terry Deeney in 2015, MyClinic’s services include online repeat prescriptions, mental health, physiotherapy and wellbeing products, as well as video consultations with healthcare professionals ranging from GPs, therapists, midwives, physiotherapists, and fertility specialists.
“We are delighted that MyClinic has joined HealthHero’s expanding team. There is significant demand for distributed and remote healthcare models in Ireland, where access to primary
healthcare can be challenging and unlike the UK is often not free at the point of use. Since the onset of Covid-19 HealthHero saw demand for its UK and Republic of Ireland services increase by over 300%, and MyClinic has reported a similar surge in demand. It’s an exciting time for HealthHero to add a direct-to-consumer offering to our services,” Ranjan Singh, Co-founder and CEO of HealthHero, said in a statement
HealthHero has raised £60.3 million in venture funding.Patient engagement platform GetWellNetwork acquired Docent Health, an enterprise consumer engagement platform.
Date: January 28
Price: Not disclosed
Founded in 2015, Docent enables healthcare organizations to scale personalized outreach through AI-enabled communication technology. It leverages intelligent, real-time text messaging to improve patient outcomes and retention by guiding patients to the “next best step” in their care.
“Docent Health has delivered impressive outcomes in some of the largest health systems in the U.S., offering inspiring and important programs aimed at disadvantaged populations and health disparities,” Michael O’Neil, GetWellNetwork's founder and CEO, said in a statement.
“We are excited to combine Docent Health’s unique engagement capabilities with GetWellNetwork’s library of 230+ digital care journeys to create a next-generation platform for patient outcomes and loyalty.”
Docent had raised $17.1 million in venture funding from Maverick Ventures, New Enterprise Associates, and Bessemer Venture Partners.MultiPlan, a provider of data analytics and technology-enabled end-to-end cost management solutions to the U.S. healthcare industry, acquired Discovery Health Partners, an analytics and technology company offering healthcare revenue and payment integrity services.
Date: January 21
Price: About $155 million plus transaction costs
Founded in 2008, Discovery works with about 80 healthcare payor customers in the Medicare Advantage, Medicaid and commercial markets to improve the integrity of their payment and revenue processes.
Its solutions will complement and extend MultiPlan’s payment integrity offerings, spanning the claims life cycle to ensure the legitimacy of a payor’s payment requests as well as its premium collections. Together, the companies will offer a full suite of solutions that analyze and impact the right eligibility and claims at the right time in order to be paid correctly the first time.
“Waste in the U.S. healthcare system accounts for about a quarter of total healthcare spending and presents a tremendous opportunity to deliver affordability, fairness and efficiency to the industry,” Mark Tabak, MultiPlan's Chairman and CEO, said in a statement.
“This acquisition of Discovery will extend the reach of our program integrity solutions not only across the claim value chain but also across multiple payor lines of business. We look forward to joining forces with Discovery to deepen our value to healthcare payors and the healthcare industry as a whole.”
Discovery had raised $22.5 million in venture funding from investors that include Carrick Capital Partners.
The transaction is expected to be completed by the end of Q1 2021.
Healthcare intelligence platform vendor Komodo Health, acquired Mavens, a provider of cloud-based technology solutions.
Date: January 11
Price: Not disclosed
The acquisition brings together Komodo’s Healthcare Map and software suite with enterprise applications from Mavens. That will allows customers to put life-saving therapies into the hands of patients who need them.
The acquisition will also accelerate Komodo’s global expansion, as Mavens currently operates in the US, UK, and India.
“This acquisition disrupts the status quo, unlocking a fundamentally different opportunity for life sciences companies to gain access to differentiated insights through technology,” Arif Nathoo, MD, CEO and co-founder of Komodo Health, said in a statement.
“Purchasing fragmented and costly data assets, custom solutions, and expensive consulting projects will be a thing of the past as Komodo Health delivers a seamless, data-driven platform across R&D, Commercial, Medical Affairs and Patient workflows.”
Founded in 2014, Komodo has raised $94 million from investors that include ICONIQ Growth, Andreessen Horowitz, Oak HC/FT, IA Ventures, Felicis Ventures, and McKesson Ventures.Physitrack Limited, a virtual care technology company for rehabilitation, acquired care provider Rehabplus.
Date: March 2
Price: Not disclosed
Established in 2013 as Advanced Total Therapy Limited, Rehabplus is a provider of clinically evidenced, cost-effective physiotherapy and injury rehabilitation services within the UK, operating from over 25 clinics nationwide.
"We are delighted to welcome Rehabplus to the Physitrack family, and are very excited about this unique opportunity to further develop our healthcare provider and patient user experience for the Physitrack and Physiotools products. The Rehabplus team brings a breadth of knowledge in both hands-on and virtual care provision that will be key for ongoing R&D work, and for helping expand our virtual care offering to a wider audience," Henrik Molin, CEO of Physitrack, said in a statement.
Founded in 2012, the London-based Physitrack raised $3.5 million from Crown Ocean Capital.
(Image source: medcitynews.com)
Support VatorNews by Donating
Read more from our "Trends and news" series
Veda will use its automation technology to analyze, verify, and standardize Humana’s dataRead more...
GE HealthCare will use Biofourmis’ AI-guided algorithms to deliver personalized, at-home careRead more...
Related Companies, Investors, and Entrepreneurs
Joined Vator on
The most powerful insights come from the most comprehensive data. Our Healthcare Map empowers clients and partners to achieve optimal, cost effective outcomes for every patient in the US.