| Primary care provider Vera Whole Health is merging with healthcare pricing transparency and navigation company Castlight Health in a $370 million all-cash deal. This deal will allow Castlight Health to offer personalized recommendations directly to Vera Health's clients, and take some of the burden off employers who would otherwise have to wade through many options before finding a digital health solution.
This partnership could encourage workers to engage more with their healthcare coverage, which could be impactful, as many employees don't understand their health benefits, and only a few actually use their benefits, according to Castlight Health. While the pandemic drove demand for virtual care services to go public in order to rapidly scale, this merger suggests the digital health IPO boom may be slowing down. "Instead, companies could increase consolidation this year to remain attractive to clients," said Erun Ahmed, analyst at Insider Intelligence. | |
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