With Vera Whole Health’s $370M purchase, Castlight Health to go private
Vera, a value-based primary care provider, will buy all the outstanding shares of Castlight, in a move that will merge the two companies.
Vera, a value-based primary care provider, will buy all the outstanding shares of Castlight, in a move that will merge the two companies.
Morgan Health, JPMorgan Chase's business unit, has made its first-ever investment in a company that provides a coordinated primary care model. Vera Whole Health operates a network of primary clinics across 10 states, supported by a technology platform.
The companies initially started working together through the UHS-affiliated health plan Prominence Health Plan, which is based out of Reno, Nevada.
Employer-sponsored clinics developed in the industrial boom during and after World War II, but now companies crushed by rising healthcare costs are taking another look at the model.
According to a 2017 employer survey, a third of companies with more than 5,000 employees now offer general medical clinics at their work sites.