Talkspace Goes Public in Another Reverse Merger

Talkspace Goes Public in Another Reverse Merger

In 2020, reverse mergers with special purpose acquisition companies (SPACs) popped up on a weekly basis, and it seems like that trend is spilling over into 2021. This week, Talkspace, a tele-behavioral healthcare company, announced it is going public after it merges with Hudson Executive Investment Corp. (NASDAQ: HEC), a SPAC formed by Hudson Executive Capital LP (HEC), Douglas L. Braunstein and Douglas G. Bergeron. Mr. Braunstein is the founder and co-managing partner of HEC and the former CFO and Vice Chairman of JP Morgan. Mr. Bergeron is a co-managing partner of HEC and the former Chairman and CEO of VeriFone, Inc. The deal is valued at an initial enterprise value of $1.4 billion, plus... Read More »
Optum Acquires Change Healthcare

Optum Acquires Change Healthcare

It’s not often we see a prolific buyer such as Change Healthcare (NASDAQ: CHNG) as the target company in an acquisition, but it’s a new year with new possibilities. The digital health and analytics giant will be acquired by Optum, a member of UnitedHealth Group (NYSE: UNH) that operates OptumHealth, a population health management company; OptumInsight, a healthcare information analytics company; and OptumRx, a pharmacy benefits management company. The deal is valued at $13.17 billion, consisting of $8 billion in cash ($25.75 per share) and approximately $5.17 billion in assumed debt. The price is a 41% premium to Change Healthcare’s closing price on January 5, 2021.  Change Healthcare is a... Read More »
HealthEdge Buys Altruista Health

HealthEdge Buys Altruista Health

HealthEdge, a portfolio company of The Blackstone Group (NYSE: BX), announced the acquisition of Altruista Health, Inc. for an undisclosed sum. Altruista Health delivers care management and population health management solutions that support value-based care models. Altruista serves approximately 30 customers representing over 16 million members and has developed deep expertise serving complex patient populations across Managed Medicaid and Medicare Advantage plans. Its GuidingCare technology platform integrates care management, care coordination and quality improvement programs through a suite of web applications. HealthEdge provides healthcare IT solutions that health insurers use to... Read More »
Gainwell Technologies Acquires HMS

Gainwell Technologies Acquires HMS

Gainwell Technologies, a portfolio company of Veritas Capital, has announced it acquired HMS (NASDAQ: HMSY). HMS provides a broad range of payment accuracy and population health management solutions, as well as analytics and engagement solutions. Under the terms of the agreement, Gainwell will buy HMS for $3.4 billion, or $37 per share in cash, a 52% premium to HMS’ unaffected share price as of October 2, 2020, the last trading day prior to when reports of a possible transaction were published. The purchase price comes out to 5.13x HMS’ 2020 annualized revenue and 22.60x HMS’ annualized EBITDA.  Gainwell Technologies supports clients across the United States and territories with offerings... Read More »
Cerner Corporation adds Kantar Health

Cerner Corporation adds Kantar Health

After no updates in the M&A market for more than five years, according to results in our Healthcare Deal Database, Cerner Corporation (NASDAQ: CERN) is back with a new deal. The digital health company announced it is acquiring Kantar Health for $375 million in cash from Kantar Group. Kantar Group is a portfolio company of Bain Capital. Kantar Health is a data analytics and real-world evidence and commercial research consultancy serving the life science industry. Cerner offers an integrated clinical and financial system to help manage day-to-day revenue functions, as well as a wide range of services to support clinical, financial and operational needs. Kantar Health’s proprietary... Read More »
Cerner Corporation adds Kantar Health

PointClickCare Technologies Adds Collective Medical

PointClickCare Technologies Inc. announced last week it is acquiring Collective Medical in an effort to more than double its platform size. PointClickCare Technologies is a software platform supporting a network of more than 21,000 skilled nursing facilities, senior living communities and home health agencies. It is backed by JMI Equity and Dragoneer Investment Group. Collective Medical is a leading real-time care notification, activation, and collaboration platform. The company’s platform collects data from electronic health records (EHRs) and health information exchanges to help providers make informed decisions. Sources cited in Business Insider value the merger at approximately... Read More »