Becker's Healthcare October 21, 2024
Providence, based in Renton, Wash., has spun off four companies while retaining equity in each of them.
The companies are Xealth, a digital health prescribing platform; Circle, a smartphone app for expectant mothers; DexCare, a digital access platform; and Praia Health, a digital health company.
Sara Vaezy, executive vice president and chief strategy and digital officer for Providence, told Becker’s these spinoffs create value for the health system in two key ways. First, they address specific challenges Providence needs to resolve.
Ms. Vaezy emphasized that Praia Health, spun off in March and currently in use by Indianapolis-based Community Health Network, originated from Providence’s exploration of the challenges patients encounter when accessing digital platforms. Through this process, the health system identified...
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