Welltok Strikes Again, Buying WellPass
Welltok, a portfolio company of New Enterprise Associates since 2013, has boosted its consumer health platform, CafeWell, with the acquisition of WellPass. WellPass was formed in 2017 through the merger of Sense Health and Voxiva. The latter worked with many large payers and organizations on mobile and digital health products. Sense Health focuses on Medicaid care managers. Wellpass has created interactive, popular text-based programs such as Text4Baby, Text2Quit and Care4Life, and works with a roster of Medicaid plans, state Medicaid agencies and departments of health, as well as providers and pharmaceutical companies. The acquisition will allow Wellpass’ current clients to more... Read More »
SOC Telemed Adds Psych Services
SOC Telemed, formerly Specialists On Call, Inc., has added telepsychiatry provider JSA Health to its roster of specialties. SOC Telemed bills itself as the largest national provider of provides video-based specialty physician consultations to acute care hospitals, health systems, post-acute care providers, physician networks, value-based care organizations and health plans. Through its Telemed IQ platform, it provides 24/7 coverage in neurology, psychiatry, critical care and managed services solutions to more than 300 hospitals across 25 states. It’s been in Warburg Pincus’ portfolio since 2014. Houston-based JSA Health provides telepsychiatry services in emergency settings,... Read More »
Disruption Hits the Digital Health Sector
Retailers have been the big disruptors in the healthcare market in recent months, but not in digital health. CVS Health (NYSE: CVS) and Aetna’s (NYSE: AET) merger, announced in December 2017, is still on track. Amazon’s (NASDAQ: AMZN) deal for PillPack has many wondering what’s next in the online pharmaceutical space. Now there’s Best Buy (NYSE: BBY), the consumer electronics retailer, entering the healthcare arena. The company announced on August 15 it was throwing down $800 million in cash to acquire GreatCall, Inc., an aging-in-place player, from GTCR. The private equity firm bought GreatCall about a year ago, in June 2017, for an undisclosed price.... Read More »
Marlin Equity Exits AdvancedMD
Marlin Equity Partners is parting ways with AdvancedMD Software, Inc. The exit was announced on August 2, 2018, almost three years to the day that Marlin announced its acquisition of the company on August 6, 2015. Private equity firms are trading healthcare tech and services companies with abandon these days, and there’ve been several take-private deals and carve-outs announced this year. The largest to date is KKR & Co.’s (NYSE: KKR) $9.9 billion deal for Envision Healthcare Corp. (NYSE: EVHC), but we can add Altaris Capital Partners’ $1.1 billion acquisition of medtech company Analogic Corporation (NASDAQ: ALOG), Platinum Equity’s $2.1 billion deal for Johnson... Read More »
Veritas Capital Doubles Down on Digital Health
Veritas Capital Management has made some aggressive moves into the digital health space in recent years. Its investment focus is on companies that provide critical products and services, not just in healthcare, but also in aerospace and defense, communications, energy and education. So its recent activity is interesting, and expensive. In April 2016, Veritas paid $820 million to acquire Verisk Health from its parent, Verisk Analytics, Inc. (NASDAQ: VRSK). Verisk Health provides data services, analytics and advanced technology to support value-based healthcare delivery and payment systems. At the time of the sale, it had 350 clients in the United States. The price consisted of $720 million... Read More »Schedule a demo
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