With Welltok’s $80M acquisition, it gains use of hospitals

Welltok, an electronic health business that developed some tools to personalize physical fitness goals for health plan people and also the employer wellness market, makes another acquisition, this time around to include hospitals to the subscriber base.

It acquired Tea Leaves Health from Ziff Davis, a subsidiary of j2 Global for $80 million. Their SaaS analytics tools are utilized by greater than 400 hospitals to target consumers and physicians with coordinated engagement campaigns, a news release noted. 

“Similar to how health plans and employers are expanding beyond their traditional look at people and employees, correspondingly, innovative hospital systems will also be extending their focus beyond patients’ instances of care and recognizing the necessity to develop and sustain ongoing relationships,” stated Shaun Margolis, Welltok’s chairman and Chief executive officer within the release.

He added that Welltok and Tea Leaves shared the “same DNA” with how they create SaaS tools to alter how healthcare enterprises use customers to improve health.

Just before Tea Leaves, Welltok had made several acquisitions to aid its CaféWell Health Optimization platform.

Silverlink, a healthcare communications firm, helps health plans interact with older adult people and it has past dealing with Medicare and State medicaid programs populations.

Predilytics, a healthcare data mining and analytics business, was intended to make its population health management technology better quality. Its technology gives Wellok more feedback on user engagement.

Mindbloom, a San antonio-based gaming developer that actually works with insurers to supply happy to guide and motivate their people to consider healthy behaviors. Welltok stated at that time it might add Mindbloom’s mobile health gaming apps to the Café Well platform.

Zamzee, a business that develops programs tailored for children and families to improve their activity levels.

Image: Nicol??s Mero??o, Getty Images

MedCity ENGAGE, October 23-24 in North Park, concentrates on the most recent strategies and innovations to boost patient engagement, care delivery and company wellness. Use code MCNTAG in order to save $50.

As Express Scripts pays $3.6B for eviCore Healthcare, did Amazon . com result in the PBM blink?

Money bag icon on blackboard with hand

Express Scripts intends to covering out $3.6 billion to purchase eviCore Healthcare from several investors. It’s an offer which will see the organization liberate in the prescription medication benefits manager and expand in to the wider arena of medical benefit management for insurers, media reports noted.

EviCore Healthcare pre-approves scans along with other pricey tests for health plans covering 100 million people, based on Bloomberg. Obviously, there’s the flipside of saving health plans money, as Saurabh Jha, a radiologist using the Hospital in the College of Pennsylvania, noted on Twitter:

Pharmacy benefit managers, amongst other things, negotiate prices of covered drugs with pharma companies, use financial incentives to influence patients to reduce-cost generics and manage high-cost niche medications.

The offer might be a method for Express Scripts to safeguard itself from the intimidating competition Amazon . com could offer whether it would transfer to the PBM sector, as CNBC reported captured. However in an announcement from Express Scripts CEO Tim Wentworth, it was not obvious the move through the PBM was reply to Amazon . com, although he did suggest the offer would consolidate its power within the patient benefit management market.

“By further strengthening our independent model and creating numerous possibilities for growth, the purchase of eviCore will provide value for the clients, patients, providers, and shareholders,” he stated within the statement.

Meant for its medical benefits management business, eviCore acquired QPID Health this past year. The company, which functions like a subsidiary of eviCore, created a clinical decision support tool that actually works on the top of providers’ electronic permanent medical record systems. Its Q-Guide is made to be utilized before high-cost, high-volume surgical procedures to provide physicians an easy method to evaluate the requirement for a process using the patient’s risks.

The purchase is anticipated to shut through the finish of the year.

Photo: StockFinland, Getty Images

Rock Health: 16% of digital health companies funded in Q3 2017 brought by women

An electronic health report from Rock Health demonstrated that ladies-brought companies and geographic diversity ongoing to construct within the third quarter. Within the three several weeks through September 30, from the 84 firms that elevated $1.2 billion, 16 percent were brought by women.

Women-brought firms that received purchase of the 3rd quarter reflect an array of digital health subsectors. Although women’s health is one kind of them, it is among several. Other include care coordination with Chicago-based ExplORer Surgical, cofounded and brought by Chief executive officer Jennifer Fried. The company elevated $3 million to succeed its operating room care coordination and analytics business. Genetic screening business  23andMe elevated $250 million underneath the leadership of Anne Wojcicki with what is broadly seen as expansion into the field of drug development. Medical transport startup Circulation, cofounded and brought by Robin Heffernan, elevated $10.5 million.

Tia, a women’s healthcare startup geared to millennials elevated $2.5 million and it was certainly one of seven women’s health startups to get funding for that year up to now. Others incorporated Babyscripts, Lucy, Carrot, Progyny, Maven and Flo, the report noted.

Around the merger and acquisition front, the consolidation has slowed with simply 83 M&A deals up to now. One trend is the fact that clinical workflow companies happen to be typically the most popular with nine acquisitions for that year up to now.

It’s the tenth month of the season and to date, not just one hint of the digital health dpo. Maybe the marketplace is constipated between overvalued companies and firms that simply haven’t proven their worth yet, or don’t seem like to be the canary within the 2017 coal mine.

There’s one exception, however. Henrik Molin, the Chief executive officer of Physitrack, a Swedish telerehab business, lately stated digital health company would soon apply for an IPO…on Nasdaq First North in 2018.  The organization states have 1.a million patients in 102 countries spread across clinics

Inside a phone interview, Molin stated it’s more welcoming of earlier stage healthcare startups compared to American exchanges.  Within the U.S, commenting around the digital health scene, he noted that there’s money floating and it is hampering lots of companies.

Commenting on his intends to go public on Nasdaq First North, Molin stated:

“I view it like a great path to us creating ourselves like a bigger player.”

Photo: SergeyNivens. Getty Images 

MedCity ENGAGE, October 23-24 in North Park, concentrates on the most recent strategies and innovations to boost patient engagement, care delivery and company wellness. Use code MCNTAG in order to save $50.