Hat tip to HISTalk today.įor Teladoc, growing beyond urgent care, plus integrating the former Livongo and InTouch Health, presents difficulties. One wonders why a shell game tactic was used, as Conversa is known to be an early-stage company. If that is so, Conversa was bought for $70 million or less. That means a tidy payday of €23 million ($27.3 million) for the company’s founders – Ken Cahill, James Bligh, Karen Tierney, Dr John Sharry, and Gavin Doherty. The Irish Times, undoubtedly working a local contact at Silver Cloud, ascertained that Silver Cloud was purchased by Amwell for a price in excess of $250 million. The other challenge for Amwell? Making all the systems work together in a meaningful way–and to market what can be a confusing picture properly. According to Healthy Skeptic, a blog written by long-time UnitedHealth Group senior healthcare executive Kevin Roche, their combined revenue was $15 million–more than a 20x multiple of the purchase price.
#UCSF CONVERSA SERIES#
Conversa’s Series B was a tiny $8 million for total funding of $34 million. The wrinkle? Neither company is all that far along–SilverCloud has total funding of only $26 million but is more established with 750,000 clients and 300 organizations. They see digital workflows, patient engagement, a longer-term relationship with their consumer base through the continuum of care, through these two companies’ hospital, health system, health plan, and employer clients. Clients include Northwell Health, UCSF Health, UNC Health, Merck, MedStar Health, and Prisma Health.įor Amwell, this expands their capabilities in the hot behavioral health area and, with Conversa, into a care management platform targeted to providers, pharma, and payers. Conversa is a StartUp Health portfolio company that developed a scalable care management triage system for at-risk patients that provides automated patient outreach and engagement tools that can move them to higher levels of care where needed. A spinoff of Trinity College Dublin, it counts as US clients Kaiser Permanente, Optum, and Providence Health, plus over 80 percent of NHS’ mental health service. SilverCloud provides digital telehealth programs for common behavioral health conditions. Amwell’s announcement today (28 July) of the twin acquisitions of SilverCloud Healthand Conversa Health for the tidy total sum of $320 million in cash and stock was, if not quite a ‘see ya and raise ya’ move, a confirmation that Amwell was going to raise its game, at long last, versus Teladoc.
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