And here is why I don't buy the telehealth or any other subsegment hype. American Well went public last fall at a very high price and shot up even higher, but now it is trading at 70% lower than the IPO price. Bullshit that doesn't have substance behind it gets caught sooner or later. Despite being in existence for years and having all the tailwinds of the epidemic behind it, this company is losing a pile of money. It is in a commodity business with no differentiation and lots of competition. Most of these high-flying health care IPOs will end up in the same place.
https://www.cnbc.com/quotes/amwl?qsearchterm=amwl
Author Kevin Roche
The Healthy Skeptic is a website about the health care system, and is written by Kevin Roche, who has many years of experience working in the health industry through Roche Consulting, LLC. Mr. Roche is available to assist health care companies through consulting arrangements and may be reached at khroche@healthy-skeptic.com.
Do you have any thoughts about the Organon spinoff from Merck? I’m wondering if it’ll be worth holding onto.