Last week, Amwell announced it was buying two digital health companies to boost its telehealth platform. The companies are SilverCloud Health, which delivers a range of digital cognitive behavioral health programs that are evidence-based and clinically validated, and Conversa Health, which helps leading healthcare organizations including Northwell Health, UCSF Health, UNC Health, University Hospitals and Prisma Health to remotely manage and engage patients by delivering configurable, automated text-based conversations to support a wide range of clinical needs.
For the two companies, Amwell will pay $320 million in a mix of stock and cash. Aggregated 2021 calendar revenue of Conversa and SilverCloud is expected to be approximately $15 million with an anticipated revenue growth rate of approximately 100% in 2022.
Amwell is a leading telehealth platform in the United States and globally, serving more than 2,000 hospitals and 55 health plan partners. The Conversa Health and SilverCloud Health acquisitions will help Amwell advance its platform offerings and accelerate growth opportunities in new markets.
Barclays acted as exclusive financial advisor and Ropes & Gray LLP acted as legal counsel to Amwell on both transactions. Cantor Fitzgerald & Co. acted as exclusive financial advisor to Silver Cloud Health.
