It’s the return of #HealthIn2Point00 after an overly long summer break (well, I went to HIMSS and Jess didn’t last week!). We have deals with Maven raising a big round, Cricket Health (from a few weeks back) filling its coffers and another fertility play, Carrot Fertility, getting $75m. Finally Sharecare gets its checkbook out — again–and buys a home care company. We have more to catch up on tomorrow–Matthew Holt
By JESSICA DaMASSA, WTF HEALTH
Sharecare ($SHCR) starts trading on the NASDAQ tomorrow and CEO Jeff Arnold has come back to catch us up on what’s happened since April when we first spoke and took a deep-dive into Sharecare’s population-health-slash-care-navigator-slash-health-security business model. That interview (watch here: https://youtu.be/P6DzFbtiLWg) digs into the $400 million/year revenue model Jeff’s built so far, and now THIS CHAT picks up where we left off — mere hours before Sharecare heads into the public market. valued at just under $4 billion dollars, with ZERO Debt and $400 million in cash to invest in scaling up.
Turns out a lot can happen while you’re waiting for your paperwork to be signed! So what’s new? How about the $50 million dollar private placement Anthem has made into business? Jeff explains how this kind of backing from the country’s second largest health insurance company is not only a win when it comes to securing a customer base, but also how it will likely impact product roadmap. The Anthem investment was closely linked to Sharecare’s January acquisition of health tech startup Doc.AI, which had been working with Anthem on some very payer-friendly tools that will likely be expanded. And speaking of expansion? Jeff’s already made more than a dozen acquisitions to build up Sharecare’s three main verticals over the years– what else could they possibly need now? Tune in for all the last-minute news and numbers before $SHCR pops tomorrow!
By JESSICA DaMASSA, WTF HEALTH
Sharecare, the population-health-slash-care-navigator of the stars (literally, celebrity doc Dr. Oz is a co-founder, and Oprah’s Harpo Productions, Sony Pictures Television, and Discovery Communications are partners) is about to hit the public market via a $4-Billion SPAC IPO with Falcon Capital. Jeff Arnold, co-founder, CEO, and Chairman drops in to talk about how he plans to make Sharecare even more successful than the first healthcare business he founded-and-exited, WebMD.
The Sharecare ecosystem is sprawling. The company’s been around for more than a decade, acquired about a dozen digital health point solutions and health tech businesses, and built a population health analytics platform that’s interwoven consumer, employer, provider, and health plan data for years. Now, the business is even getting into providing Health Security verifications for hotels, restaurants, and the like to prove that their facilities meet guidelines for health and hygiene protocols, cleaning standards, physical distancing and other health requirements implemented in the Covid-19 era.
So, how does Jeff anticipate meeting shareholder expectations for growth? The investor deck touts a future of recurring revenue driving sustainable 20% year-over-year growth; Jeff talks through each of Sharecare’s verticals in detail so we can learn how.
Today on Health in 2 Point 00, Jess asks Matthew about AireHealth merging with BreathResearch, adding machine learning-based diagnostics to their respiratory health remote monitoring devices, Sharecare acquiring behavioral health platform MindSciences, the “digital One Medical” telemedicine company PlushCare raising $23 million in a Series B, and PatientPing raising $60 million to expand their e-notifications network to achieve greater interoperability and coordinated care. —Matthew Holt
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
I’m working on a long piece about Sharecare. Today at Health 2.0 my partner Indu Subaiya will be interviewing Jeff Arnold CEO of Sharecare about the progress they’ve made in the 5 years since he launched the company on stage at Health 2.0 in 2010.
Just to give you a little taster, I’m posting an interview with one of Sharecare’s clients and investors, the big Catholic hospital chain Trinity. I think this interview with Bret Gallaway at Trinity will whet your appetite for Jeff today and the longer article coming shortly. But it’s a great story about what is now a major platform for consumer health.
WebMD founder Jeff Arnold launched ShareCare at this year’s Health 2.0. ShareCare recruits industry experts to answer health and wellness questions, providing consumers with the necessary tools to make smart health choices and live healthier lives. ShareCare simplifies the search for health information, allows consumers to find high quality answers from multiple points of view, and drives healthcare to the local level by allowing consumers to hear from physicians close to home. With partners such as Sony, Harpo (Oprah’s production company), Discovery, Dr. Mehmet Oz, and multiple major content providers, the launch of ShareCare has been highly anticipated.