The telehealth giant says its new acquisition will help it greatly expand offerings across the care continuum.
The country’s largest telehealth provider announced today that it would get into the hospital telehealth business via acquisition.
American Well will purchase Avizia, which provides an array of acute care telehealth services to hospitals. It currently claims about 1,300 deployments across over 70 health systems. The deal will expand American Well’s portfolio, adding what the announcement calls a “best in class hospital-based cart lineup” and integrated workflows for over 40 clinical specialties.
American Well already offers 140 different telehealth solutions to 75 health systems, and its health plan partners cover a third of Americans. The merger will create a single, consolidated platform to “greatly enhance the provider experience” by allowing them to perform telehealth interventions across the care continuum.
Mike Baird, CEO of Avizia, welcomed the new ownership, saying that American Well will help his company further its goal of providing multi-faceted telehealth care for chronic disease management, emergency care, acute, and post-acute care. The company’s telestroke and behavioral health offerings are highlighted in the announcement.
"Avizia has always sought to help providers be confident they're giving patients the best access to the best care, regardless of location," Baird said. “As part of American Well, we can expand this vision.”
Avizia, spun out of Cisco just 5 years ago, had already raised nearly $24 million in a series of funding rounds. American Well isn’t exactly an old company itself: Launched in 2006, it has raised more than $200 million to date, including a $59 million injection from a new partnership with Allianz that was announced earlier this year.
Financial terms of the deal have not been disclosed and the announcement said that the transaction is dependent on certain (also undisclosed) conditions. The deal is expected to be completed later this summer.
"American Well helps providers treat patients who are not in the room. We do that by effectively connecting the four key players in the ecosystem: consumers, providers, payers and innovators," said American Well CEO Ido Schoenberg, MD, said. “Our merger will allow us to create the most comprehensive solution for our clients: an exceptional, singular, end to end offering."