Healthcare offers the challenge and opportunity that big tech companies relish: It’s an industry as profitable as it is antiquated. Amazon is one of the tech giants making major inroads in healthcare, and the company is using a multi-pronged approach to transform the industry. Though each new move has generated headlines, disruption in healthcare doesn’t happen overnight. But the company’s latest foray may be its most tangible and potentially transformative. According to recent reports, Amazon plans to dramatically scale up its direct-care delivery service, Amazon Care.
A total of 136 digital health companies were acquired in the first half (1H) of 2021, compared to 83 in 1H 2020, a 64% increase in year-over-year M&A activity, according to the latest Mercom Digital Health Funding and M&A Report. Telemedicine companies led M&A activity with 25 transactions, followed by Practice Management Solutions providers with 20 transactions. mHealth Apps, Data Analytics, and Clinical Decision Support companies were involved in 10 transactions each. Nine Digital Wellness companies were also acquired.
Hinge Health, the world’s #1 Digital Musculoskeletal Clinic™, has acquired wrnch, developer of the leading computer vision platform for measuring human motion. wrnch’s three-dimensional motion-tracking technology enables the same precise tracking of full-body movement used by elite athletes and the motion picture industry. Hinge Health now has the largest computer vision team in digital health. Movement-tracking technologies, such as computer vision and motion sensors, enable Hinge Health’s clinical care team to deliver the most responsive and personalized whole-body approach to MSK care, improving outcomes and member experience while reducing costs.
Baxter CEO Joe Almeida on Sept. 2 told investors his company’s decision to buy Hillrom was an effort to expand into connected care products, whose adoption in healthcare has been accelerated by the COVID-19 pandemic enabling patients to access to hospital-level care at home. MedTech Dive spoke with Hillrom’s Trey Lauderdale, vice president and general manager of care communications, who credits Hillrom CEO John Groetelaars, who took the helm in 2018, with moving the company from its low-tech hospital equipment to its current innovative portfolio of connected care products.
Invenshure announced Wednesday that Flywheel has acquired Radiologics. Together, the two companies, now operating as Flywheel, offer the only biomedical research platform capable of connecting any organization or data set across life sciences, academia, clinical, and medical AI. Founded by Invenshure in partnership with Dr. Brian Wandell and Gunnar Schaefer out of Stanford, Flywheel is a Minneapolis-based company providing a data management platform for biomedical research.
Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) today announced the launch of Vive Collective™ (“Vive”), a new platform focused on backing innovative digital health companies. Clearlake is partnering with Vive Founder & CEO Cheryl Cheng, an industry veteran with a strong track record of building high-growth companies within the digital health space. Together, Vive and Clearlake will offer digital health companies unparalleled access to resources, collaborations, and expertise. Digital health companies partnering with Vive will have access to a specialized set of resources to help accelerate growth.
Google and ProMedica Health System are jumping into the rapidly growing virtual care market to get a piece of the $213 billion that’s spent annually on musculoskeletal care. The two companies are partnering with IncludeHealth to launch a musculoskeletal (MSK) operating system that any provider can use to offer integrated virtual physical care for MSK patients. The platform is hardware-free and device-agnostic, according to the companies. “The landscape of care delivery has shifted,” said John Pigott, M.D., chief innovation officer at ProMedica in a statement. “Health systems must now seek powerful tools to navigate the new frontier of blending on-site and remote services.”
HHAeXchange (“HHAX” or the “Company”), the leading provider of homecare management solutions for payers, providers, and state Medicaid agencies, announced today that it has secured a new investment from Hg, a leading global investor in software and services. Cressey & Company LP (“Cressey”), a leading healthcare-focused private investment firm which first partnered with HHAX in 2018, will continue to be a significant investor in HHAX. Both investors will share joint governance of the business. Founded in 2008, HHAX offers a comprehensive software as a service (SaaS) platform to its customers that improves patient outcomes, drives operational efficiency and increases compliance across the homecare ecosystem.
symplr®, the leader in enterprise healthcare operations including governance, risk management and compliance (“GRC”) SaaS solutions, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and Charlesbank Capital Partners (“Charlesbank”), announced today that it has agreed to acquire Halo Health, a provider of clinical communication and collaboration software that streamlines clinical processes and interactions, improving clinician satisfaction and patient care.
Zelis, a leading payments company in healthcare, announced today it entered into a definitive agreement to acquire Sapphire Digital (“Sapphire”), the healthcare industry’s leading platform for provider selection, patient access, price transparency, and digital consumer navigation. More than 100 million people rely on Sapphire to help them price, select and access care with confidence. As part of the transaction, the Sapphire leadership team will join Zelis to help lead the combined company’s healthcare consumer solutions business.
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