Brilliant Well being has acquired a telehealth firm that gives digital care software program to almost 60 well being programs nationwide.
The Minneapolis, Minn.-based insurtech startup paid an undisclosed sum to purchase Zipnosis, a telehealth platform that physicians from the College of Alabama’s Brigham Well being System and extra used to deal with greater than 2 million sufferers final yr. Zipnosis has raised almost $25 million in enterprise funding, with investments from Ascension Ventures and extra.
Brilliant Well being not too long ago expanded by an acquisition of Central Well being Plan of California, which is able to develop its Medicare Benefit enrollment to 110,000 enrollees. The corporate at present counts greater than 500,000 particular person, small enterprise, household and Medicare Benefit members throughout 13 states. Brilliant Well being additionally owns and manages roughly 40 risk-bearing major care clinics and companions with native suppliers to handle care for his or her sufferers.
The transfer so as to add extra sturdy telehealth companies comes after experiences that Brilliant Well being might search a $1 billion public providing as quickly because the second quarter of 2021, a sum basically consistent with what Medicare Benefit-focused startup Agilon Well being seeks to boost and a valuation close to what Oscar Well being initially sought—however failed to attain—by an IPO earlier this yr. Competitor Alignment Healthcare, in the meantime, seeks a valuation of simply $3.5 billion, lower than half what Oscar and Brilliant imagine they’re value.
Brilliant Well being has up to now raised $1.6 billion in enterprise funding. The corporate was co-founded in 2015 by former UnitedHealth Group CEO Bob Sheehy.