The day's second incomprehensible deal involves Babylon Health babbling on about buying Higi Health, which offers kiosks for biometric screenings. Babylon is a digital and telehealth company. No price announced but whatever it was, it was too much.
This is why I don't invest in "digital" health BS. Castlight Health went public at a huge valuation. The hype caught up with it and the valuation plunged. It now has agreed to be bought by Vera Whole Health for $2 a share or a whopping $370 million. I doubt it is worth that much, but Vera is another hype-driven company, although in theoretically a more solid segment--primary care, desperate to find some way to make it look like it actually is adding value to the system. I always find it hilarious to see the rational for these deals. Castlight's tools will supposedly help Vera's providers. Right, sure, of course, anything you say, load of crap.
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. Mr. Roche is available to assist health care companies through consulting arrangements through Roche Consulting, LLC and may be reached at [email protected].