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April 13, 2021
Special purpose acquisition companies, or SPACs, have taken the digital health market by storm over the past year and a half. Already in 2021 there have been more completed or announced public exits by digital health companies than for the entirety of 2020. What’s more, over 80% of them have been through SPAC mergers, according to a new Rock Health report.
For those not already on the SPAC...
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April 7, 2021
Better Therapeutics, a nutritional cognitive behavioral therapy digital therapeutics company, announced plans today to go public by merging with special purpose acquisition company Mountain Crest Acquisition Corp II.
The deal is expected to close this summer, subject to stockholder approval, and will raise $113 million for the combined company. It includes a $50 million private investment in...
March 5, 2021
The 2020s are on course to become the decade of the special purpose acquisition companies (SPACs), also known as "blank check" or "shell" companies. SPACs are set to outpace IPOs once again in 2021, after a record year that saw SPACs mature from a once obscure method of going public to a rabid, flavor-of-the-month frenzy amidst both institutional and retail investors.
The year of COVID-19 saw 227...
February 16, 2021
Editor's note: This article has been updated with original quotes from the heads of Owlet Baby Care and Sandbridge Acquisition.
Owlet Baby Care, the maker of connected infant-monitoring products targeted at consumers, today announced its plans to merge with Sandbridge Acquisition Corporation, a special purpose acquisition company (SPAC) backed by Sandbridge Capital and PIMCO private funds, and to...
February 15, 2021
SPAC rumors pan out. Just a few weeks after rumors spread of Sharecare's upcoming merger with a special purpose acquisition company (SPAC), the patient-engagement and benefits-navigation platform made it official with an announcement on Friday.
Sharecare will be merging with Falcon Capital Acquisition and listing on NASDAQ. The deal is set to be funded through $345 million in cash in trust from...
February 10, 2021
A call for independent policing of non-HIPAA health data. The Center for Democracy & Technology, a nonprofit organization focused on tech policy and architecture, and the eHealth Initiative & Foundation, a coalition of industry and academic stakeholders, yesterday released a framework proposal calling for self-regulation of consumer data use by health devices and products that don't...
February 4, 2021
Consumer genomics platform 23andMe is on its way to becoming a publicly-traded company through its merger with VG Acquisition Corp., a special purpose acquisition company sponsored by Virgin Group.
The two companies announced today they have entered into a definitive merger agreement that is expected to close in the second quarter of this year. Once completed, the combined companies’ stock will...
January 28, 2021
This week Reuters reported that two more major digital health companies are discussing potential merger agreements with special purpose acquisition companies (SPACs) that would lead to multibillion dollar valuations.
The first, reported late Tuesday, is app-based patient-engagement and benefits-navigation platform Sharecare.
Per Reuters' anonymous sources, the proposed deal would see Sharecare...
January 21, 2021
Consumer telehealth and wellness brand Hims & Hers wrapped up its merger with special purpose acquisition company (SPAC) Oaktree Acquisition Tuesday, and today began trading on the New York Stock Exchange.
The deal was first announced in October, and was originally expected to close before the end of its Q4 2020. After Tuesday's approval, the deal has provided Hims with $279.5 million, $205...
January 13, 2021
Last year’s surge of digital health companies hitting the stock exchange appears to be continuing into 2021, as both Amwell and Talkspace announced public exit plans this week.
First up is Amwell, which announced Tuesday that it has created a proposed public offering to extend 11,280,647 shares of its Class A common stock to the public. Additionally, the underwriters will be given a 30-day option...