The merger of the two patient engagement companies will create an organization with more than 2,000 employees. The deal would expand Virgin Pulse's channels for communicating with patients and help it expand into some new markets.
In 2018 alone, ten companies have inked mega-deals of more than $100 million including Livongo, 23andMe and American Well.
Small practices play a critical role in healthcare delivery, but they cannot continue to absorb ever-increasing administrative demands without consequences.
The deal will enable Welltok, which helps organizations connect consumers to health resources, expand its footprint in the managed Medicaid and government markets.
Among new investors in the $75 million Series E round are Future Fund Management Agency, Ziff Davis -- the company that sold Tea Leaves Health to WellTok, NF Trinity Capital in Hong Kong and ITOCHU Corp.
In a recent phone interview, Roswell, Georgia-based Tea Leaves Health President Miki Kapoor chatted about his company being acquired by Welltok earlier this year. He also discussed his career, physician engagement and his predictions for healthcare in 2018.
Tea Leaves Health is one of several acquisitions Welltok has made to broaden its appeal and boost its technology capabilities.
By reducing administrative burden and redesigning workflows around human needs, it creates space for what matters most: connection between clinicians and patients.
The largest acquirers tended to be health IT vendors but what's interesting about the report by CB Inisghts is that it shows the diversity of companies they've pursued.
The deal will give Welltok access to the 1.5 million people insured by HealthPartners, which operates in Minnesota, North Dakota, South Dakota, Iowa, and Wisconsin.
More than a dozen investors, including Bessemer Venture Partners, the Qualcomm Life Fund and New Enterprise Associates, participated in the funding round.
“Empathy for all stakeholders is how we will get from usability to desirability,” said Welltok Vice President of Design Aaron Sklar.
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"Silverlink is really good at multichannel, targeted consumer engagement," Welltok Chief Marketing Officer Michelle Snyder said. "It brings us new technology capabilities and new markets."
IBM debuted the first of two television commercials highlighting how third-party businesses are building apps on the supercomputing platform, and digital health company Welltok is included. A second ad will feature Watson Health.
Welltok has acquired health data analytics business Predilytics to deepen consumer insights for its population health management
A collaboration between Welltok and Centura Health tied to Welltok’s Café Well Concierge platform, powered by IBM Watson, wants to guide patients recovering from heart procedures or a heart attack to make healthy decisions as they go through the rehabilitation program. The deal marks a major milestone for Welltok. Centura Health is the first health […]