“Amwell®, (NYSE: AMWL) a national telehealth leader, today announced that it has signed definitive agreements to acquire SilverCloud Health, a leading digital mental health platform, and Conversa Health, a leader in automated virtual healthcare. By adding the technology of these two companies to its virtual care platform, Amwell is greatly enhancing the differentiated value it can bring to current and future clients. Each company brings unique, proven capabilities that will position Amwell to materially advance the reach and impact of care teams on patients’ lives through the use of interactive tools that strengthen the cohesion between physical and virtual care.”
“’We believe that future care delivery will inevitably blend in-person, virtual and digital care experiences; and as such, we are uniquely building a global platform to support such advanced, coordinated care,’ said Ido Schoenberg, Chairman and Co-CEO, Amwell. ‘By integrating SilverCloud Health and Conversa Health into our platform we are demonstrating Amwell’s fundamental and repeatable design to continually scale digital healthcare services across the different sites of care. These acquisitions will amplify the presence and reach of care teams and reaffirm that as the needs of the healthcare marketplace evolve, so too will the Amwell platform.'”
“Both SilverCloud Health and Conversa Health have shown they can enable a more efficient blend of in-person, virtual and digital care, and in turn have helped to lower operational and healthcare costs, as well as advanced care outcomes. With these acquisitions and in partnership with those on its platform, Amwell can accelerate its work to redefine the practice of medicine to include always-on healthcare companionship that makes the balance and transition between interactive, digital and in-person care more fluid…”
“In addition to the above, the Conversa Health and SilverCloud Health acquisitions will help Amwell realize value in a number of key ways:
- Advanced Platform Offerings — The combined company will seek to pioneer new digital care workflows and programs to improve patient engagement and care team reach, as well as to advance care delivery outcomes. Initial efforts will focus on virtual care automation and patient companionship to advance longitudinal care, behavioral health, and other specialty and chronic care segments.
- Accelerated Growth Opportunity in New Markets— Amwell will expand its current client base to include hospital, health system, health plan and employer clients of Conversa Health and SilverCloud Health. The geographical footprint of SilverCloud Health will also help Amwell to accelerate its global growth plans, specifically within the United Kingdom and Ireland…” Read the full press release here.
Source: Amwell Enhances Virtual Care Platform with Two Acquisitions: SilverCloud Health and Conversa Health – July 28, 2021. Amwell.
Amwell was named to the list of NXT UP firms poised to make big waves in the Federal sector in 2020 and for years to come.
