Health IT Business News, Financial Edition – August 18, 2022

Trending News

Amwell to Power CVS Virtual Care PlatformOn a second quarter earnings call on Thursday (Aug. 4), Amwell (@Amwell) CEO Ido Schoenberg led with the CVS partnership, saying the telehealth platform would be powering its new virtual care offering. The Company is reiterating outlook for 2022 and expects revenue between $275 and $285 million, AMG visits between 1.4 and 1.5 million, and adjusted EBITDA between ($200) million and ($190) million.

CVS Plans to Bid for Signify HealthWSJ reports deal would help CVS (@CVSHealth) fulfill its ambition to become even bigger provider of medical services. According to people familiar with the matter, the drugstore and insurance giant look to expand in home-health services.

Mergers and Acquisitions

Availity to Acquire Diameter Health, a Leader in Clinical Data Interoperability – Availity (@Availity) announced a definitive agreement to acquire Diameter Health (@DiameterHealth). Integrating Diameter Health’s complementary Upcycling Data™ technology into Availity’s existing clinical data gateway capabilities positions Availity to deliver one of the strongest integrated clinical and claims data network and interoperability platforms in healthcare.

SpendMend Completes Acquisition of VIE Healthcare Consulting – SpendMend (@SpendMend), provider of solutions to optimize the cost-cycle for the healthcare industry announced the successful completion of its purchase of VIE Healthcare Consulting (@viehealthcare). The acquisition will help SpendMend to expand its set of solutions to help healthcare-industry clients reduce costs across purchased services agreements.

SpendMend Acquires Pharmacy Procurement Software Pioneer, Trulla – SpendMend, provider of solutions to optimize the cost-cycle for the healthcare industry, announced the successful completion of its purchase of Trulla, one of the healthcare industry’s leading providers of pharmacy procurement software.

BD Acquires MedKeeper to Offer Cloud-based, Connected Pharmacy Software – BD (Becton, Dickinson and Company) (@BDandCo) a global medical technology company, announced it has acquired MedKeeper (@MedKeeper), a provider of modern, cloud-based pharmacy management applications. The acquisition adds to company’s recent growth in high-technology pharmacy solutions and further accelerates the company’s commitment to Smart, Connected Care – offering a customizable platform to optimize IV workflow.

Lyniate Merges with CareCom, Further Extending Capabilities of Interoperability Leader
Lyniate (@lyniate), a healthcare data interoperability company, and CareCom (@CareComAS), a healthcare terminology management solutions company have entered into a definitive merger agreement. This strategic combination builds on Lyniate’s recently announced merger with NextGate, a longtime leader in patient identity data management, to further extend the company’s unique ability to offer the industry’s most complete suite of interoperability solutions.

Contract Announcements

Velatura Services Selected for Amazon Web Services (AWS) Health Equity Initiative – Participation in the initiative will enhance Velatura’s efforts to provide essential data management infrastructure, advance data exchange, improve well-being, and reduce disparities. Velatura announced that it has been selected as part of the Amazon Web Services (AWS) Health Equity Initiative, a $40 million, three-year commitment supporting organizations that are developing solutions to advance health equity.

InteliChart’s Healthy Outcomes Selected by ENT and Allergy Associates as its New Patient Engagement Platform – Patient engagement and consumer healthcare provider InteliChart (@InteliChart) announced that ENT and Allergy Associates, LLP (ENTA) has selected InteliChart’s Patient Portal from the Healthy Outcomes patient engagement platform to optimize their patient engagement and consumer healthcare initiatives. Based in New York and New Jersey, ENTA is the nation’s largest otolaryngology, allergy, and audiology private practice. The group’s 300 clinicians and 56 clinical locations are all utilizing NextGen’s EHR and EPM systems.


KeyCare Expands Nation’s Only Virtual-First Care Platform Built with Epic via $24M Series A Investment – KeyCare, Inc., a virtual-first care platform built with Epic, announced the closing of $24 million in series A funding backed by 8VC, LRVHealth, Bold Capital, and Spectrum Health Ventures.

ThedaCare Invests in Qventus to Enhance Patient Experience and Outcomes – ThedaCare (@thedacare) is a health system dedicated to reinventing health care and advancing its mission of improving the health and well-being of communities served. Because of the strong alignment with how the organization envisions the future of health care, ThedaCare announced it has invested $3M in Qventus (@Qventus). It is joining other investors in a $50 million growth investment in the provider of artificial intelligence (AI)-powered software for care operations automation.

Biofourmis Raises Additional Funding from Intel Capital in Series D Extension and Names Top Healthcare Leaders to its Board – Biofourmis (@biofourmis), a Boston-based virtual care and digital medicine, announced that Intel Capital, the strategic investment arm of chipmaker Intel Corporation, has joined its Series D financing in an extension that brings the total funding raised in the round to $320M.

Abridge Secures $12.5M in Funding and Launches Enterprise Solution to Combat Physician Burnout in Healthcare and Help Patients Stay on Top of Their Health – A leader in medical conversation AI, announced an oversubscribed $12.5M Series A-1. Led by Wittington Ventures, the round also had participation from all existing investors including Union Square Ventures, Bessemer Venture Partners, Pillar Venture Capital, and UPMC Enterprises, and new investors including Turing Award winner Yoshua Bengio, and Whistler Capital.

Salvo Health Secures $10.5 Million in Seed Funding To Scale Virtual Health Clinic for Chronic Conditions – A virtual health clinic focusing on specialty care for chronic gut conditions, announced the close of a $10.5 million seed funding investment led by Threshold Ventures along with Torch Capital and Felicis. These investors were early backers of healthcare innovators such as Livongo, Ro, and Brightline. Additional seed investors include founders from health transformers such as Ginger and Forward Health.