Read more: Telehealth, Digital Payments Make Healthcare Easier, Affordable for Patients and Providers
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“Integrating our navigation data and technology with Vera’s high-quality primary care offering addresses the fundamental need for a coordinated and personalized patient experience while enabling providers to improve outcomes and lower costs, and employers to participate in full risk-sharing for the first time,” said Maeve O’Meara, Castlight CEO. “We believe the combined company has a unique opportunity to deliver large scale innovation to the commercial customer segment and accelerate the restructuring of the healthcare market to a stronger focus on value,” said Ron Williams, chairman of Vera and operating advisor to Clayton, Dubilier & Rice (CD&R) funds.ĬD&R, Vera’s majority equity holder, is investing $338 million in the combined company, and health insurer Anthem, a long-time Castlight customer, has agreed to make an undisclosed investment.
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See also: JPMorgan Invests $50M In Medical Subscription Startup Vera Whole Health The combined company will also work to change how patients access care, how providers deliver care, and how employers and other purchasers pay for care. The combined entity will bring a value-based care model to the employer healthcare market and will integrate Castlight’s technology with Vera’s clinical network, healthcare professionals and provider partnerships.
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Primary care provider Vera Whole Health is acquiring health data firm Castlight in a deal with an equity value of $370 million that will be structured as an all-cash tender offer to acquire all outstanding shares of Castlight, according to a press release.