digital health M&A
Labcorp did not disclose the terms of the deal, but said this acquisition will be another step into the growing femtech market.
Although most deals are undisclosed and some are partial asset acquisitions, the numbers undeniably show a busy year for the space.
The remote monitoring health tech company’s timely name-change coincides with a radical shift in the way health data is perceived and used, triggered by the coronavirus pandemic.
The deal follows on the company's 2018 acquisition of AI nutrition app Nutrino.
Despite some wins across its various business efforts, Fitbit's mounting losses provide some insight as to why the company was looking to sell.
The new tool will cater to patients with or without insurance, and the company says that "most visits" will cost $20.
The company has brought on an investment firm to investigate options for a potential sale of its business, Reuters reports.
The deal closed last week, although financial terms have not yet been disclosed.
Mercom Capital Group's latest numbers also suggest that upcoming IPOs could cast a long shadow on the direction of digital health investing.
While the terms of the transaction were not disclosed, this and a past acquisition signal Carenet's aims to turn its virtual care services into a major market presence.