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#HealthTechDeals Episode 9: Signify buys Caravan; Koneksa; Jasper; Vynca; Doximity

Jess & I are worried about Peleton’s CEO! Well that not worried. Signify Health buys Caravan Health for $250m ; Koneksa gets $45m; Jasper Health gets $25m; $30m for Vynca; & Doximity pays $82.5m for scheduling co Amion, while going gangbusters on its numbers. Matthew Holt

TRANSCRIPT

Jessica DaMassa:

Matthew Holt, you and our loyal listeners might recall how a few weeks ago I bring up the fact that no one is talking about Peloton and the fact that it’s killing TV characters left and right. Then what happens all of a sudden? Boom! Take out of Peloton. The stock has tanked. The CEO is gone. Thousands of people laid off. Am I the harboror of terrible things that are yet to come? It’s this episode, the February 10th episode of Health Tech Deals.

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INSIDE THE ACQUISITION: Signify Health Adds Caravan Health’s ACO-building Expertise for $220M

By JESSICA DaMASSA, WTF HEALTH

Get the details behind the deal! Signify Health (NYSE: SGFY) is acquiring Caravan Health for $220 million in cash and common stock in effort to create one of the largest networks of at-risk healthcare providers in the country. For all those who love healthcare payment model innovation, this is a story about scaling both value-based care and accountable care organizations (ACOs), and we have Signify Health’s CEO Kyle Armbrester and Caravan Health’s founder and Chairwoman Lynn Barr here to explain the model and market potential this creates for Signify Health.

Signify Health is best known for its value-based, care-at-home focused approach in the Medicare Advantage space, and Caravan Health brings both tech and expertise to support the creation of accountable care organizations (ACOs) and the ongoing smart management of their patient populations. Caravan got its start with “safety net providers” in rural areas and pioneered what’s known as the “Collaborative ACO” approach that pools smaller health systems together based on practice similarities (instead of geography) to achieve the right kind of patient scale needed to mitigate risk. This is really important to scaling ACOs nationally, as you’ll hear both Lynn and Kyle explain, and, of course, we ask Kyle to zero-in on how this will extend Signify Health’s reach into new markets as well.

Beyond the acquisition, we also celebrate Signify Health’s one-year IPO-iversary. The company rang the bell on the New York Stock Exchange (then stopped by WTF Health to talk about it!) on Feb 11, 2021. Looking past the Caravan Health acquisition and to what it will lead to next, Kyle and Lynn (who will now be activating even more payment model innovation as Signify Health’s VP of Innovation) get fired up about what’s ahead.

Health in 2 Point 00, Episode 110b | Maven, IntelyCare, and New Acquisitions!

Today on Health in 2 Point 00, we resume our two-part series with part B and bring our promised special guest! Continuing from the first part of Episode 110, Jess and I discuss the women and family health startup Maven raising $45 million in its Series C round with celebrity investment. 1UpHealth, the MassChallenge HealthTech Finalist, raises $8 million; IntelyCare raises $45 million bringing the gig-economy approach to nurse staffing raises, and HealthJoy raises $30 million in Series C funding. The hospital owned ACO umbrella services company Caravan Health acquires Wellpepper, and Sharecare acquires Visualize Health; are these good acquisitions? -Matthew Holt

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