Urgent care acquisition. New Verily project. AI beats doctors.
I’m currently doing research for our upcoming briefing on healthcare delivery. It’s tomorrow, and you can sign up for it here.
One of the interesting things I took a look at is the rise of urgent care. If you live in a city in the US you may have noticed this, but there seem to be new urgent care clinics popping up everywhere. Even when I google map “urgent care” around our office, there are red dots everywhere. Walk-in clinics seem like the new Starbucks.
Urgent care has found solid footing by entering the sweet spot between a primary care visit (too long) and an ER visit (too expensive). This has been a pretty attractive for private equity investors. A snapshot from our platform shows they were a part of 24 deals since 2010, which is more than a quarter of all the private market transactions in that area (you can replicate this search on the platform here).
Just yesterday Warburg Pincus took a majority stake in CityMD, valuing the company at $600M. Today, Benchmark Capital (one of our top smart money investors) announced a deal into Solv Health, which manages reservations and check-ins for urgent care clinics.
These clinics are riding the “consumerization of healthcare” wave and investors are riding along. We’ll be talking a bit more about this in tomorrow’s briefing.
Pharma goes digital
We mapped out where the largest pharmaceutical companies by revenue have been investing in digital health on one timeline. I won’t spoil all the surprises because you should read the full post, but interesting notes:
Merck is very active, especially through their Global Health Innovation Fund.
Grail has the most pharma investors
Some of the largest pharma companies have made no moves in digital health, can you guess which ones?