Datavant Acquires Ciox Health
Private equity-backed Ciox Health has been sold in a $7 billion deal. The buyer was Datavant, a San Francisco-based digital health company that helps healthcare organizations safely link their data to improve medical research and patient care. It is backed by Roivant Sciences, SoftBank Vision Fund and Founders Fund. Ciox Health manages a platform that leverages clinical data to improve patient outcomes and lower healthcare costs. The company simply and securely connects healthcare decision-makers with the data and hidden insights in patient medical records. It was a portfolio company of New Mountain Capital. The combined company’s ecosystem of data and analytics will now include... Read More »
Convey Health Announces its Going Public
Healthcare technology firm Convey Holding Parent, Inc. announced a plan to raise $200 million through its upcoming IPO. The offering will consist of 13.3 million shares at an expected price range between $14 and $16 per share. In 2020, the company generated $288 million in consolidated revenue, a 28% increase over the previous year. Convey Holding Parent, also known as Convey Health, provides specialized Medicare technology solutions and healthcare advisory services to their customers. Its clientele ranges from national health insurance plans to pharmacy benefit management firms. Convey currently operates out of Fort Lauderdale, Florida. Convey Health has been backed by private equity... Read More »
DarioHealth Corp. Buys wayForward
Telehealth demand is still strong. DarioHealth Corp. (NASDAQ: DRIO), a leading global digital therapeutics company that helps people with chronic conditions, announced last week it was buying PsyInnovations, Inc. (dba wayForward) for $25 million. wayForward shareholders will get an additional $5 million if revenues exceed a certain threshold in 2022. wayForward is a behavioral health digital platform that includes AI-enabled screening to triage and navigate members to specific interventions, digital Cognitive Behavioral Therapy, self-directed care, expert coaching and access to in-person and telehealth provider visits. The company is currently providing its full suite of digital... Read More »Science 37 Goes Public in SPAC Deal
Another week, another SPAC deal. This time, Science 37, Inc. is merging with LifeSci Acquisition II Corp. (NASDAQ: LSAQ), a special purpose acquisition company (SPAC) targeting the biopharma, medical technology, digital health and healthcare services sectors. The transaction values Science 37 at a total enterprise value of $1.05 billion and a fully distributed equity value of approximately $1.3 billion at signing. Science 37 shareholders could also get $125 million in achievement milestones. Science 37 developed the Decentralized Clinical Trial Operating System, which provides workflow coordination, evidence generation and data synchronization, allowing companies to conduct fully... Read More »
Walmart Acquires Telehealth Platform
The retail behemoth Walmart (NYSE: WMT) is pushing deeper into healthcare. Last week, Walmart announced the acquisition of MeMD a national telehealth provider. The company was founded in 2010 and provides virtual care nationwide, leveraging the latest online technologies to deliver high-quality care 24/7. MeMD delivers medical and mental health visits to millions of members nationwide. This is not Walmart’s first foray into healthcare. MeMD will be merged with Walmart Health, a network of primary care clinics providing services ranging from optometry and mental health counseling services to dental care. The first location opened in 2019 in Dallas, but by the end of 2021, the company... Read More »Schedule a demo
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