GoodRX, a consumer drug pricing and digital health company, acquired VitaCare Prescription Services from TherapeuticsMD for $150 million. VitaCare is a technology and services platform that helps patients navigate key access and adherence barriers for brand-name medications. GoodRX plans to integrate VitaCare’s service with its high-growth, pharma manufacturing business. GoodRX is coming off a challenging earnings report where it posted a loss of $39.9 million during the fourth quarter and saw its stock tumble by 40 percentage points.
Wildflower Health announced a $26 million financing round. The women’s health company specializes in digital, value-based maternity care. The round was led by TT Capital Partners with participation from existing investors, including Providence Ventures, Health Enterprise Partners, Hatteras Venture Partners and Echo Health Ventures. Along with the financing, Providence, a large Catholic-based health system based on the West Coast, will implement Wildflower’s value-based maternity care technology across its Southern California region.
DNANexus, a cloud-based biomedical data analysis software company, announced a $200 million financing round. The round was led by funds managed by Blackstone Growth (BXG), with participation from existing investors Northpond Ventures, GV, Perceptive Advisors, Innovatus Capital Partners and Foresite Capital. DNANexus has seven of the top 10 pharmaceutical and eight of the top 10 diagnostics companies as customers. It also works with the U.S. Food and Drug Administration on its precisionFDA platform and the United Kingdom on its Biobank Research Analysis Platform.
Health Gorilla, an interoperability network and software company, raised $50 million in series C funding. The round was led by San Francisco-based SignalFire, with participation from Epsilon Health Investors, IA Capital and Nationwide Ventures. Health Gorilla plans to expand its go-to-market strategies, accelerate product development and enhance its staffing capabilities with this round.
Gravie, an insurtech company, raked in $75 million in series E funding. The round was led by Georgian, a growth-stage investor based in Canada, with participation from existing investors FirstMark Capital, AXA Venture Partners, Split Rock Partners and Revelation Partners. Gravie says it will use the new funding to invest in its technology, sales and marketing, while also expanding into new markets through new and existing distribution channels.
Insurtechs’ big losses overshadow 2021 revenue growth
Other funding rounds, deals and partnerships:
• UPMC, the large integrated health system based in Pittsburgh, is making a strategic investment in scheduling platform company, Kyruus.
• Forma, a life benefits technology company, raised $40 million in series B funding.
• Heritage CARES, a virtual behavioral health platform for substance misuse and suicide prevention, merged with YouTurn, a platform of therapist-led video content for stress, behavioral health and substance misuse.
• Rocket Health, a telemedicine startup, closed $5 million in a series A funding round.
• MDisrupt, a digital health intelligence company, raised $6 million in seed funding.
• Maverick Medical AI, an AI-powered medical coding platform, closed a $5 million seed funding.
• Homeward, a virtual care startup providing specialty care in rural communities, raised $20 million in funding round.
• Lynx, an API-connected healthcare payments platform, raised $17.5 million in equity financing.
• Vivante Health, the digital solution for digestive health and disease, closed its $16 million series A funding round.
• Jio Health, a telehealth company, raised $20 million in a Series B funding round.
• Legion Health, a mental health platform that matches and connects clinicians with companies, raised $2 million in seed funding.
• Clinia, a health navigation platform connecting patients into trusted pathways, raised a seed funding round for approximately $4 million.
• Delfina, a predictive analytics platform for pregnancy care, raised a $5 million seed funding round.
• Avant-garde Health, a web-based analytics platform that enables hospitals and physicians to deeply analyze and compare their costs and outcomes in care delivery, raised $12 million in a series A funding round.
• Nice Healthcare, a virtual primary care provider, closed $30 million in a series A funding round.
• Big Bold Health, a holistic healthcare tech company, announced a $4 million series A funding round.
If there is a digital health funding or M&A deal that we missed from this past week here, please email us.
Digital Health Business & Technology’s data team contributed to this roundup.