UpHealth, Cloudbreak Health Merge With SPAC in $1.35B Deal
UpHealth Holdings, Inc. and Cloudbreak Health, LLC are merging to create a digital health powerhouse. GigCapital2 Inc. (NYSE: GIX), a special purpose acquisition corporation (SPAC), is the buyer behind the acquisition and will be combining the two companies. UpHealth is one of the largest national and international digital healthcare providers, and Cloudbreak Health is a leading telemedicine and video medical interpretation solutions provider. Cloudbreak offers telehealth solutions covering telepsychiatry, telestroke, tele-quarantine and remote patient monitoring. The combined company will have a combined pro forma enterprise value of $1.35 billion. GigCapital2 will merge... Read More »
Butterfly Network Undergoes Reverse Merger
Another week, another reverse merger. Private companies going public through a special purpose acquisition company (SPAC) seem to be a dime a dozen in 2020. Primary Care operator Cano Health, LLC announced it was going public last week in a deal valued at $4.4 billion, and Clover Health struck a $3.7 billion reverse merger with Social Capital Hedosophia Holdings Corp. III (NYSE: IPOC). This time, the SPAC is Longview Acquisition Corp. (NYSE: LGVW), which is sponsored by Glenview Capital Management, LLC. The company going public is Butterfly Network, Inc., which created the world’s first handheld, single-probe whole-body ultrasound system, Butterfly iQ, to make ultrasound technology more... Read More »
Cano Health Goes Public in Reverse Merger
Cano Health, LLC has been an active buyer in the healthcare space for the past few years, reporting a couple of deals in 2020 alone. Now the primary care operator is going public in a new reverse merger with Jaws Acquisition Corp. (NYSE: JWS), a special purpose acquisition company. The deal is valued at $4.4 billion. Cano Health is expected to generate $1.45 billion in revenues in 2021. The company operates primary care centers and supports affiliated medical practices in Florida, Texas, Nevada and Puerto Rico that specialize in value-based care for seniors. As part of its care coordination strategy, Cano Health provides high-touch population health management programs such as wellness... Read More »
Clover Health Goes Public
Clover Health Investments, Corp. is going public in a new reverse merger. Founded in 2013, Clover Health provides affordable Medicare Advantage plans to more than 57,000 members in seven states. The company also offers the Clover Assistant platform, which aggregates relevant health data points, including claims, medical charts and diagnostics, and uses machine learning to synthesize that data with member-specific information. This provides physicians with actionable and personalized insights at the point of care, offering suggestions for medications and dosages as well as the need for tests or referrals, among others, to ultimately improve health outcomes. Clover Health is merging with... Read More »Schedule a demo
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