![]() The market is highly fragmented, so providers are turning to M&A to become a one-stop shop for their clients and differentiate themselves from competitors.Īnd "for startups, this is a great opportunity to exit given the attractive valuations today," Paddy Padmanabhan, CEO of Damo Consulting, said.Īmwell historically is less bullish on M&A than some of its peers, especially when compared to the largest U.S. Historic levels of consolidation in the red-hot digital health sector spurred by COVID-19 tailwinds are likely to only increase in the near term, even as tech behemoths like Amazon and Microsoft have aggressively entered the space. To put that in context, the vendor brought in $245.3 million in revenue in 2020, so the snap-ups won't result in a huge immediate boost for Amwell's topline, but could be valuable strategic positioning for the future, analysts said. Adding SilverCloud specifically will help Amwell accelerate its global growth plans within the UK and Ireland, the vendor said.Īmwell estimates Conversa and SilverCloud will bring in an additional $15 million in revenue this year, and expects that to double in 2022. Similarly, Conversa clients include a range of systems, including Northwell Health, UCSF Health and UNC Health, which use its automated text-based conversations to support a variety of clinical needs, including pre-admission patient education to chronic care management to post-acute monitoring.Ĭurrently, Amwell provides virtual care to more than 2,000 hospitals and 55 health plan partners. SilverCloud, which offers a range of behavioral health programs, is used by more than 300 organizations worldwide, including integrated giant Kaiser Permanente, UnitedHealth's health services arm Optum and the National Health Service in the United Kingdom. ![]() The acquisitions, which will be funded through a mixture of stock and cash, will also expand Amwell's client base. The addition of the digital mental health program and the automated virtual health provider is meant to expand Amwell's ability to provide patient care between physician visits through interactive offerings, the Boston-based virtual care giant said Wednesday. ![]()
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