Investing
This merger comes over a year after news broke that Outcome Health faced a number of legal battles.
The company's technology looks to reduce the burden on pathologists reviewing digital slides, while also serving as a safety net to reduce errors.
The deal is expected to close in the second quarter of 2021. It will value the combined company at approximately $1.1 billion.
Also: Valo Health closes $300 million for machine learning drug discovery; Blue Note Therapeutics supports its in-development prescription DTx with $26.25 million.
Investment firm Kuwait Life Sciences Company's Dr. Mussaad M. Al-Razouki gives a breakdown of recently filed or finalized digital health SPACs, as well as a list of unicorns ripe for a potential merger.
Also: Oscar Health IPO dips below expectations; DrChrono's new "all-in-one telehealth app experience."
The Israeli startup raised the first $50 million in April 2020 in a round led by Insight Partners, which led this extension as well.
This brings the company's total valuation to $1.7 billion.
The company is initially targeting the large employer market with its app-connected biometric monitoring tools.
The company currently manages one million lives, and plans to expand its footprint with the new funds.