Vivid Well being has acquired a telehealth firm that gives digital care software program to almost 60 well being methods nationwide.
The Minneapolis, Minn.-based insurtech startup paid an undisclosed sum to purchase Zipnosis, a telehealth platform that physicians from the College of Alabama’s Brigham Well being System and extra used to deal with greater than 2 million sufferers final yr. Zipnosis has raised almost $25 million in enterprise funding, with investments from Ascension Ventures and extra.
Vivid Well being not too long ago expanded via an acquisition of Central Well being Plan of California, which can develop its Medicare Benefit enrollment to 110,000 enrollees. The corporate at the moment counts greater than 500,000 particular person, small enterprise, household and Medicare Benefit members throughout 13 states. Vivid Well being additionally owns and manages roughly 40 risk-bearing major care clinics and companions with native suppliers to handle care for his or her sufferers.
The transfer so as to add extra sturdy telehealth providers comes after studies that Vivid Well being may search a $1 billion public providing as quickly because the second quarter of 2021, a sum basically consistent with what Medicare Benefit-focused startup Agilon Well being seeks to lift and a valuation close to what Oscar Well being initially sought—however failed to realize—via an IPO earlier this yr. Competitor Alignment Healthcare, in the meantime, seeks a valuation of simply $3.5 billion, lower than half what Oscar and Vivid imagine they’re value.
Vivid Well being has thus far raised $1.6 billion in enterprise funding. The corporate was co-founded in 2015 by former UnitedHealth Group CEO Bob Sheehy.