What You Should Know: - Today, World Economic Forum announced that 39 organizations have signed the Global Health Equity Network Zero Health Gaps Pledge. - The pledge includes 10 key commitments all signatories have made to embed health equity principles throughout their operations, workforce and guiding philosophies. It marks the beginning of an historic journey to making health equity an integral part of business strategies globally and an important step towards a world without health
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Accolade
Analysis: Seeking Balance in the Hyperactive Mental Health Tech Market
The prevalence of mental and behavioral health conditions has been on the rise in recent decades, further aggravated by the pandemic in the last two years. Social isolation, grief from the loss of loved ones, fear of contracting the virus, and financial worries were all major stress factors that increasingly affected the mental wellbeing of the population, and the resulting statistics are startling: the average share of adults with symptoms of anxiety or depressive disorders jumped from 1
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Accolade Acquires Virtual Primary Care Platform PlushCare for $450M
What You Should Know: - Accolade, Inc. today announced an agreement to acquire PlushCare, a leading provider of virtual primary care and mental health treatment. - Under the terms of the agreement, the purchase price of up to $450 million will consist of $40 million in cash, $340 million in Accolade common stock, and up to an additional $70 million of value payable upon the achievement of defined revenue milestones following the closing. - The
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Q1 2021 Health IT/Digital Health PC/VE, M&A, IPOs/ SPACs Activity
The first quarter of 2021 has been one of investor optimism as the vaccine rollout continues ahead of expectations and economic activity begins to accelerate in response. Within the Health IT industry, the already strong investment and M&A trends seen in 2020 have only accelerated. Over the course of the quarter, we observed $7 billion in private equity and venture capital investment across 158 companies. By comparison, Q1 of 2020 saw $3.2 billion and 127 investments. Health IT
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Recent Executive Hires: CVS Health New President, Cleveland Clinic/Amwell Joint Venture Leadership, Others
CVS Health Corporation names Neela Montgomery Executive Vice President and President of CVS Pharmacy/Retail, effective November 30, 2020. Montgomery will oversee the company's 10,000 pharmacies across the United States. Montgomery, currently a Board Partner at venture capital firm Greycroft, most recently served as chief executive officer of furniture retailer Crate & Barrel and has nearly 20 years of global retail experience. The Cleveland Clinic and Amwell joint venture appoint
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CareAcademy Lands $9.5M for Online Training Platform for Senior Care
What You Should Know: - CareAcademy raises $9.5 million in Series A funding to expand its online training platform for senior care professionals to deliver the highest caliber of service and improve the lives of older adults. - Series A round signals massive market opportunity as CareAcademy seizes a greater share of online caregiver training; brings total company funding to more than $13 million. CareAcademy, a Boston, MA-based home care & home health workforce empowerment
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Blue Shield CA, Accolade Partner to Offer Personalized Health for Self-Funded Employers
- Blue Shield of California and Accolade announced a new partnership to deploy Accolade's personalized health technology + human support to Blue Shield's employer customers. - By adding Accolade's personalized engagement solution, employers can benefit from proven boosts in program utilization, employee satisfaction, and cost savings. - The Blue Shield and Accolade offering is available for a January 2021 plan effective date. Blue Shield of California and Accolade today
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2020 Semi-Annual Health IT Market Review: 5 Key Indicators to Watch
- Healthcare Growth Partners (HGP) releases its Semi-Annual Health IT Market Review report that summarizes M&A and private equity activity across health IT, digital health, etc. - The report reveals health IT as a healthy sector going into 2020 and outlines key 2019 trends and 2020 indicators to watch in the market this year. Healthcare Growth Partners, an investment bank and strategic advisory firm for health IT has announced the release of its annual Semi-Annual Health IT Market
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Top 60 Health IT/Digital Health Mergers & Acquisitions in 2019
- From Google's acquisition of Fitbit to Philips acquisition of Carestream Health's health IT business, here is a look at some of the biggest health IT/digital health mergers & acquisitions in 2019 by each quarter. Q1 M&A Activity Johnson & Johnson Acquires Auris Health for $3.4B to Expand Digital Surgery Portfolio Johnson & Johnson acquiresAuris Health, a developer of robotic technologies for $3.4 billion in cash. Auris Health is a privately-held developer of
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Research: October Health IT M&A Activity, Public Company Performance
- Healthcare Growth Partners (HGP) summary of Health IT/digital health merger & acquisition (M&A) activity, and public company performance during the month of October 2019 During the month of October, Health IT continued its evolution into an amorphous market that is increasingly trending away from a specialized niche of healthcare and into a key component of larger sectors such as Enterprise Software, HR Administration, Insurance, Care Delivery, Suppliers, and BioPharma. The
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