Sharecare gets $25M to expand its health and wellness tools

By Jonah Comstock
03:00 am

SharecareAtlanta-based Sharecare, the health and wellness engagement platform founded by WebMD founder Jeff Arnold and television personality Dr. Mehmet Oz, has raised $20 million from Wellington Management Company. Additionally, Sharecare picked up a $5 million investment from Trinity Health (formerly CHE Trinity), a healthcare system that has been investing in Sharecare since 2013. The two investments bring the company's total funding to $160 million.

Last October, Trinity enlisted Sharecare to equip 30 million of its patients spread across 20 states with Sharecare’s portfolio of patient engagement tools. It now offers patients Sharecare’s health risk assessment the RealAge Test, individualized wellness programs, fitness device data aggregation, facility locators, appointment schedulers, secure messaging with physicians, symptom navigator app AskMD, and more.

In a statement, the company said the funding will be used to "support Sharecare’s expansion plans, including the development and delivery of innovative mobile products and services to help people optimize their health."

Lately the company has been focused on acquisitions and building new products based on those acquisitions. In February, Sharecare acquired Feingold Technologies, a German company that offers software that analyzes human behaviors. Sharecare announced at the acquisition that it had already developed an app based on the technology, which monitors the tone in the user’s voice when the user speaks on their smartphone and then uses this data to identify the user’s mindset and stress type, like “worry” or “irritation”. The app is currently available through a crowd-sourced, year-long trial that Sharecare is conducting, overseen by CNN correspondent Dr. Sanjay Gupta.

In November 2014, Sharecare acquired QualityHealth, a patient identification and engagement platform that works with health systems and pharmaceutical companies, for an undisclosed sum. QualityHealth was kept more or less intact so that its 50 million member database could help Sharecare scale its other offerings.

And in January 2012, Sharecare acquired The Little Blue Book (TLBB), a popular reference tool for physicians, from Galen Partners and other investors in exchange for shares in Sharecare. In 2012, the company also acquired RealAge, whose technology became the backbone for Sharecare's RealAge Test, and prior to that they acquired BACTES, a provider of release of information and audit management services, and PKC Corporation, a developer of healthcare decision support software.


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