STAT July 29, 2021
The acquisition race heats up in telehealth
Amwell is spending $320 million to acquire a pair of companies — the digital mental health provider SilverCloud Health and Conversa, which uses an automated texting platform to help health systems remotely manage patient care. Combined revenue for Conversa and SilverCloud is expected to be $15 million in 2021, so it’s not a huge boon in terms of new business. But Amwell is pitching the deal as broader play to broaden its services and geographic reach. From a strategy standpoint, the acquisitions seem necessary to compete with Teladoc and other rivals who are also trying to deliver more comprehensive services. But time will tell if combining with these two particular companies will pay...
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