Eight billion dollars!?

I had to read the headline twice when it hit the feeds earlier this week.

CVS agreed to cough up eight billion — yes, that’s billion with a b — to acquire Dallas-based Health Tech company Signify Health.

But I really shouldn’t be shouldn’t be that surprised…

According to a health tech benchmarks study published earlier this week by Bessemer Venture Partners:

  • $4 trillion was spent on healthcare in 2021
  • 50 digital health companies have gone public since 2019
  • and 75+ digital health companies have become unicorns (reached a valuation of more than $1 billion) since 2019

There’s a lot to explore in this particular sector, so the Powderkeg team curated a community guide for you: The Top 100 Health Tech Companies

Be sure to check out the list of companies, but don’t miss the dozens of new community opportunities, acquisitions, and funding announcements in today’s digest below.

Not surprisingly, you’ll find there’s a lot more happening in health tech here in the unvalley.

Recent Health Tech Company Fundings and Acquisitions

📍Alexander, NC

North Carolina Biotechnology Center, a private company that works with university researchers in the field of biotechnology, raised $25M in Grant funding from investors: U.S. Department of Commerce.

📍Austin, TX

Supero Healthcare Solutions, a leading company that delivers provider enrollment, credentialing, and medical licensing services, was acquired by PayrHealth (Austin, TX), a company that provides analytical, contracting, negotiation, credentialing, and revenue cycle solutions to healthcare organizations.

📍Bend, OR

Amplion, a precision medicine intelligence platform that uses AI to support strategic decisioning for pharma and diagnostic developers, was acquired by Science and Medicine Group (Arlington, VA), the leading research and advisory firm.

📍Boulder, CO

Arpeggio Bio, a company that builds technology to watch and learn how drugs work, raised $17M in Series A funding from investors: Alice Zhang, ATEM Capital Fund LP, Builders VC, Fifty Years, Formic Ventures, FundersClub, Khosla Ventures, Matthew De Silva, Milad Alucozai, Tau Ventures, TechU Ventures, Tencent.

📍Chicago, IL

Upfront Healthcare Services, a patient navigation platform designed to combine analytics, dynamic content, and automated outreach, raised $10.5M in Series C funding from investors: Baird Capital, Echo Health Ventures, First Trust Capital Partners, Hyde Park Venture Partners, LRVHealth, Nashville Capital Network.

📍Dallas, TX

Signify Health, a leading healthcare platform, was acquired by CVSHealth (Woonsocket, RI), a company that provides an integrated healthcare services offering for its members.

📍Madison, WI

Elephas, a live tumor imaging diagnostics company, raised $41.5M in Series B funding from investors: ARCH Venture Partners, Moore Strategic Ventures, Tao Capital Partners, WARF Ventures.

📍Seattle, WA

98point6, a digital primary care service that provides personalized consultation, diagnosis, and treatment to patients, raised $20M in Convertible Note funding from investors: Activant Capital, L Catterton.

📍Wheaton, IL

Occam, software solutions for record matching and patient identity automation to the healthcare industry, was acquired by ESO (Austin, TX), a software platform to improve community health through the power of data.