Finance
New financing positions BrainCheck for growth as the company adds a new member to its board of directors.
The virtual care company reported a 65% increase in revenue in 2023 compared to 2022 and a 47% increase in Q4 2023 revenue compared to the previous year.
Blockchain technology has the potential to transform healthcare, from securing patient data to reducing the risks for data breaches.
The AI-enabled company attributes its revenue growth to its HealthTrio and Decision Point Healthcare Solutions acquisitions, announced in December.
According to the bankruptcy petition, the company has liabilities of $1 billion to $10 billion and assets of $500 million to $1 billion.
The combined entity will offer primary care, mental health, occupational health, and pharmacy and musculoskeletal services to a combined base of 630 clients.
Personify will merge Virgin Pulse's wellbeing, health and comprehensive navigation services with HealthComp's health plan administration offerings.
The funds come two years after the company scored a $1.15 billion investment.
The pharma giant will also pay $55 million to fund the point-of-care diagnostics platform until the acquisition closes, which is expected to occur by mid-2024.
Foley & Lardner's Nathaniel Lacktman and Louis Lehot discuss which categories of digital health hold the most potential for M&As and why in this contributed piece.