A few weeks ago, we wrote about the investment opportunity in digital health. It looks like you agreed with us, with Q1 2017 resulting in 12 mergers and acquisitions, and over 71 deals made with a value of over $1 billion.
Mergers & Acquisitions
HMS Holdings acquires Eliza
HMS Holdings acquired Eliza for $170M. The Texas-based firm adds this health engagement platform provider to its impressive number of subsidiaries, that offer tools to payers.
Eliza has held a strong presence with many major US health plans, including Medicaid and Medicare. Its tools work to improve customer experience, which is in line with the industry trend of customer-centricity. The tool also helps increase an organizations’ revenue and renewal rate, improving the quality of care and helping with cost efficiency.
Eliza is a cloud-based platform that leverages proprietary predictive analytics, behavioral science and data-driven outreach methodologies across more than 50 domestic and international patents and patent applications.
“Eliza has perfected both the art and science of member outreach and engagement, which is a particularly complementary offering for the EssetteSuite care and population management technology platform — allowing our customers to take effective action in closing gaps in care — and a great opportunity to leverage our ability to identify high utilizers in the HMS database,” HMS CEO and Chairman Bill Lucia.
Castlight’s acquisition of Jiff
For $135M San Francisco-based Castlight Health acquires Jiff which offers consumers essentially a personalized health shopping platform. Their strategic acquisition of platform Jiff comes as part of the overall acquisition of Mountain View, a digital health company out of California.
Jiff incorporates into Castlight’s current portfolio seamlessly, adding to the existing suite of transparency tools that help employers offer their employees opportunities to save on healthcare. Jiff will connect employees to various vendors, and “will seek to improve every aspect of an employee’s health experience: from staying healthy to accessing care, to managing a condition.”
Vector acquired by Fitbit
Fitbit is continuing its acquisition run. Following on from Pebble, the company announced the acquisition of Vector for $15M. Vector is a year-old Romanian startup that boasts a smartwatch with a 30-day battery life.
Vector has the potential to help Fitbit fight strong competition from Apple and Samsung. With an impressive battery life, it negates the need to charge every night. It does, however, skimp on other smartwatch features, like the touchscreen in favor of side buttons and limits the Bluetooth communication between your phone and watch.
Proactive MD acquires Verimoov
Proactive MD, a health management service for employees, has announced its acquisition of North Carolina-based Verimoov. The employee wellness and patient engagement company offer a mobile app to track employees’ movement and activity. The move comes as Proactive MD attempts to boost its patient engagement.
Chan-Zuckerberg Initiative acquires Meta
The Chan-Zuckerberg Initiative, run by the behemoth Facebook’s CEO Mark Zuckerberg and his wife Dr. Priscilla Chan, acquired Meta earlier this year, to boosting research on artificial intelligence and machine learning in healthcare.
Moving to echo the work by IBM Watson in oncology, Meta was working to bring AI technology to doctors, who struggle to keep up with the volume of medical literature out there, which grows at an exponential rate each year. Working with the Chan-Zuckerberg Initiative and leveraging their resources will enable Meta to scale quickly.
GoodRx and Iodine merger
GoodRx, a digital cost transparency tool specifically for medication, has merged Iodine, which offers a similar tool for quality assessment and information on medications. The companies actually first starting collaborating in August 2016 and will continue working on the same project to incorporate drug-pricing data into Iodine’s existing content.
VisibilityRx acquired by DrFirst
DrFirst a healthcare SaaS firm offers products ranging from medication management to clinical communications has acquired clinical trial recruitment firm VisibilityRx. This acquisition appears to be a move by DrFirst to VisibilityRx’s patient identification, recruitment and communication capabilities to its 60,000 physician client base.
RxWiki and TeleManager
RxWiki offers a medication encyclopedia along with tools to help community pharmacists communicate with consumers. The merger with TeleManager Technologies, a provider of interactive voice response (IVR) and telecommunication technologies, heralds a major shift for the two companies, who will now operate under the new name of Digital Pharmacist. This merger enables the new company to offer a wider variety of tools to pharmacies, to improve communication with patients.
Digital Pharmacist acquires PocketRx
The new company Digital Pharmacist then went on to acquire PocketRX, which offers an app to help patients manage their prescriptions. Sold to pharmacy chains such as Denver Health Pharmacy, USave Pharmacy and Owen’s Healthcare.
Medfusion acquires NexSched
Patient engagement company Medfusion has acquired NexSched. NexSched offers a patient-facing appointment scheduling tool.
Medfusion is not a stranger to acquisitions having been acquired itself twice, once by Intuit and then re-acquired by the original owner in 2013.
GlobalMed acquires TreatMD
TreatMD, a telemedicine company, has been acquired by site-to-site telemedicine technology group GlobalMed. Its platform that connects patients and physicians around the world will bolster GlobalMed’s already impressive array of telehealth tech!
GE Healthcare acquires Monica Healthcare
Big pharma is interested in the potential applications of digital health, as shown by GEHealthcare’ss acquisition of UK-based Monica Healthcare was acquired by GE Healthcare.
2017 comes storming out of the gate, with strong moves in digital health. The buzz around digital healthcare is undeniable. The opportunity to leverage data, machine learning, cloud computing, telemedicine, social platforms and more to become patient-centric is huge. Not only do these technologies put the patient first, and will disrupt healthcare and the clinic, the potential to reduce the cost of treatment and individualize medicine is truly exciting.
ABOUT HEALTHCARE PAYERS ASSEMBLY 2017
Join us at the Healthcare Payers Assembly in 2017 to discuss the latest technology in healthcare.
The Millennium Alliance is pleased to announce that application for our biannual Healthcare Payers Transformation Assembly is now open. North America’s most prominent IT and business leaders from the Healthcare Insurance industry will be gathering on May 15-16, 2017 at The Biltmore Hotel in Miami, FL, to discuss how to adapt to the industry’s customer-centric makeover.
Technological advances in genomics, personalized healthcare, AI (and more!), coupled with consumer demand for greater price transparency, have changed the face of healthcare in North America. The need for the Healthcare Insurance industry to adapt has never been greater.
Join industry heavyweights like Henry Chao, Retired CIO & CTO, Centers for Medicare & Medicaid Services across a series of executive education roundtables, keynote presentations, collaborative think tanks, educational workshops, and networking sessions offering insight into industry-specific topics and trends, helping you stay one step ahead.
This is not just another “Healthcare” event. If you are the Chief Information Officer, Chief Medical Officer, Chief Information Medical Officer or the Chief Innovation Officer then you should be attending this event.
Spaces are reserved for the best in the business. Enquire about attendance here!