Goldman Sachs Exits Marathon Health Investment
After a three-year partnership, Goldman Sachs is selling Marathon Health to General Atlantic LLC. Goldman Sachs acquired the company for $30 million back in 2016. Financial terms were not disclosed for the sale. Marathon Health provides digital health solutions to providers and healthcare organizations to help with health assessment, risk identification, coaching and advocacy, including disease management for high-cost chronic conditions. Marathon’s platform also offers electronic health record management, fitness tools and wellness support. General Atlantic’s majority stake investment will help Marathon further scale its operations and footprint to serve employees, spouses and... Read More »eHealth Activity Climbs in Q3
The eHealth sector came out swinging this quarter, reporting 51 deals, according to our Deal Search Online database. That’s a modest 9% uptick over Q2:19 deals, but a 38% increase over the same quarter in 2018. Year-to-date totals tell a similar story. In 2018, the first three quarters reported 146 deals, while 2019 clocks in with 151 deals so far. Announced prices have followed suit as well. By the end of the third quarter in 2018, there were roughly $12.8 billion in disclosed prices, but in 2019 we’ve seen approximately $17.9 billion in the sector. Four deals disclosed prices north of a billion dollars in the first three quarters of 2018, including Verscend Technologies,... Read More »
OptimizeRx Grows Patient Communication Platform with RMDY Acquisition
OptimizeRx (NYSE: OPRX), a digital patient communication company, ramped up its platform last week with the acquisition of RMDY Health for $16 million. RMDY offers a SaaS platform that provides a complete digital framework to help life science and healthcare stakeholders design and launch their own white-label collaborative digital care and patient support programs. The company’s web and mobile platform supports a wide range of digital therapeutic initiatives, with a focus on care and chronic disease management, among others. For 2019, the company has an estimated annual revenue of $3 million. The acquisition adds three new client segments to OptimizeRx’s existing patient... Read More »Convey Health Solutions Sold By PE Firm
After a three-year partnership, New Mountain Capital is selling Convey Health Solutions, Inc. to TPG Capital for an undisclosed amount. According to sources cited by Buyouts.com, New Mountain Capital has been looking for a buyer since last April. The sources also projected Convey Health should generate roughly $50 million EBITDA in 2019, up from $10 million in 2016. The target company provides technology solutions exclusively for government-sponsored health insurance plans such as Medicare Advantage, Medicare Part D, and Employer Group Waiver Plans. The company’s management and other select stakeholders will remain invested in the company. TPG will be getting a robust digital health... Read More »eHealth Deals Remain Active in August
August proved to be another busy month for eHealth transactions. According to our Deal Search Online database, there were 18 acquisitions in the eHealth sector in July 2019, and 17 in August. The most popular targets this month were cloud-based and data-analytics providers. There were eight digital health transactions with that focus, including Water Street Healthcare Partners and JLL Partners’ acquisition of THREAD, a virtual research platform used by biopharma, contract research organizations, not-for-profit researchers and life science organizations to capture global clinical study data for clinical studies. Water Street and JLL will invest to further develop and expand... Read More »Schedule a demo
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