Sidecar Health motors along, raising $18 million in new capital for its health insurance plan that will begin operations in Texas. The company claims that its plans will cost 40% less and let consumers see any provider, etc., etc. Sounds too good to be true and it undoubtedly is.
Accolade, which supposedly helps patients "navigate" the medical care system, wins plaudits for acquiring MD Insider, which offers data on provider quality and cost.
UK-based Babylon Health shows that digital health investment derangement syndrome is apparently worldwide, as the telehealth firm raises $550 million in new capital.
Shields, a provider of on-site specialty pharmacies for health systems, has received an undisclosed amount of financing from a group that includes Walgreens.
Physician staffing firm Sound Physicians hears the market and calls an audible, acquiring iNDIGO Partners, a Michigan telemedicine and hospitalist staffing firm.
Hello Heart, a vendor of another digital heart health tracker, raises $12 million in new financing. I have no clue why investors think we need the 400th iteration of this digital tracking crap that no one is going to find long-term value in.
Digital disease management firm Livongo also went public, raising $350 million and has a valuation of over $2.5 billion. As with Health Catalyst, the shares rose over 40% on the first day of trading and even more so, the valuation is ridiculous and the firm will never live up to it. Can you say Castlight or Evolent.
Health Catalyst, the vendor of data analytics for health systems raised $182 million in its initial public offering, and promptly saw a 40% rise in the share price. Don't mean to rain on the parade but this is just an absurd valuation and while the VCs undoubtedly will do well, investors buying in the public market are due for a huge disappointment.
Large European conglomerate Philips has expanded its burgeoning health division by acquiring Medumo, which helps hospitals communicate with patients through text and email.
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.