HGP Health IT March Insights

April 01, 2019

HGP’s March Health IT Insights provides a summary of Health IT transactions, news, and public company performance during the month of March. Buyout funds were active with a number of growth transactions that reflect the very broad interest across Health IT.  Meanwhile, the market is seizing on a thesis that pharmacies can extend beyond medication dispensing and provide access to care at lower costs, a trend that was underscored by CVS's recent acquisition of Aetna and the ensuing introduction of the Health Hub pilot stores.  The social determinants market, defined as the conditions in which people are born, grow, live, work and age, continues to mature and consolidate with three transactions announced during the month.  Lastly, the health IT IPO market is finally coming alive, with three marquee IPOs in the hopper.


Noteworthy Transactions

Noteworthy buyout and growth transactions include:

Noteworthy pharmacy transactions include:

Noteworthy social determinant transactions include:

  • Unite Us, developer of a SaaS platform designed to build coordinated care networks for connecting health and social service providers together, raised $35 million in a Series B led by Oak HC/FT, with participation from Town Hall Ventures, Define VenturesScout VenturesOmidyar Network, and New York Ventures.
  • Pieces Tech, developer of software that interprets patient data in real-time, transforming billions of points into warning tools that can save lives and strengthen communities inside and outside of hospital walls, helping healthcare providers improve clinical decision-making, provide more precise interventions and address the social and economic determinants of health, raised $5mm from undisclosed investors. 
  • Signify Health acquired TAVHealth, a leading platform for collaborating with risk-bearing and community-based organizations to address social determinants of health.

Other noteworthy transactions include:


Noteworthy News Headlines


Public Company Performance

HGP tracks stock indices for publicly traded health IT companies within four different sectors - Health IT, Payers, Healthcare Services, and Health IT & Payer Services. The chart below summarizes the performance of these sectors compared to the S&P 500 for the month of March:



The following tables include summary statistics on the four sectors tracked by HGP as well as the S&P 500 and NASDAQ for March 2019: