Focussed primary care clinics had a moment, particularly in regard to Medicare Advantage plans, and that moment has kind of passed. Similar clinics were operated for employers and other group settings, but never got quite the hype of the MA ones. Two of those employer-type clinic companies, Premise Health and Crossover Health are merging, on undisclosed terms. The combined company will serve more than 400 organizations with around 900 clinics.
Drive Medical, a provider of mobility and other health equipment, is acquiring Compass Health, which provides a variety of consumer health products. No price terms were released.
Sword Health, which offers physical therapy and pain management programs is acquiring Kaia Health, a German company which focuses on "digital" musculoskeletal and COPD care. The price is $285 million.
This isn't really surprising, given what you can see in employment and other reports. Minnesota is one of the state's viewed as having a bad economy, one that is either in or near recession levels, which means multiple calendar quarters of a decline in economic output. Data reviewed included retail sales, tax revenues, building permits and other economic activity indicators.
Angle Health, a vendor of a supposedly artificial intelligence powered health benefits platform for employers raised $134 million in new capital. All you have to do is mention AI and the dollars flock in. Whether or not they flock back to the investors is a whole different issue.
Reema Health, which calls itself a complex care management company, reamed investors for $19 million in capital, to be used for the usual "to support growth". The firm works with marginalized patients, often on Medicaid and talks a do-gooder game while claiming to deliver a strong ROI. This is a crowded space in which no one has really done much good and I see nothing to suggest why these guys are any different.
Press Ganey, which provides market research for health plans and providers , is being purchased by health care survey firm Qualtrics for $6.75 billion. Both companies claim this is all related to AI, which is what everyone says now to get a stock boost.
Sometimes companies change their name, I have no idea why and it often seems goofy. CapitalRx, which is a pharmacy benefit manager, with aspirations to be a broader technology provider for the administration of employer health benefit plans, has raised $400 million in new capital and changed its name to "Judi Health". Don't ask me to explain that.
Innovacer, a health care technology company that claims extensive use of artificial intelligence, is acquiring Story Health, which helps manage patients with chronic care conditions and who need specialty care.
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 khroche@healthy-skeptic.com.
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 khroche@healthy-skeptic.com.