Transcarent buys part of virtual care company 98point6

transparenta digital platform targeting the self-insurance employer market announced plans to acquire assets from 98point6, including an AI-enabled virtual assistance platform and care business.

In accordance with reporting on Forbes, the deal is worth up to $100 million. It includes 98point6’s business with self-insured employers, healthcare systems and payers, and an affiliated healthcare group.

The company offers text-based virtual assistance, which uses an artificial intelligence chatbot to collect and relay health information to a provider, who can then manage care. Following the deal, which the companies plan to close at the end of the month, 98point6 will focus on licensing its software to third-party vendors.

“We cannot think of a better company to continue to care for our customers and members than Transcarent as we enter the next phase of growth that will focus on software licensing under the 98point6 Technologies brand,” said Jay Burrell, President and CEO Executive Director of 98point6 Technologies. in a statement. “Virtual care is the backbone of healthcare. We remain committed to implementing new technology solutions and business models that work upstream to provide healthcare providers with the infrastructure they need to succeed with consumers.”

Transcarent provides a digital layer that aims to improve healthcare by connecting patients with physicians, helping manage oncology care, and planning surgeries and rehabilitation.

“By combining 98point6 AI-powered virtual care technology and an affiliated group of world-class physicians with Transcarent’s end-to-end healthcare platform, we will provide consumers and employers with what they really need. Using AI to personalize and access healthcare will revolutionize the virtual care experience, combining best-in-class technology with a human touch for the first time. It’s a winning combination,” said Transcarent CEO Glen Tallman.

BIG TREND

transparent came out of hiding in 2021 and announced a $200 million Series C raise early last year. The company, led by veterinarian Livongo Tullman, is expanding its offerings to include oncology services, behavioral health navigation, and pharmacy benefits tools.

98point6 announced two rounds in the midst of the COVID-19 pandemic in 2020, including $43 million Series D and $118 million Series E. The company last year raised $20 million to expand its licensing vertical along with a strategic partnership with Washington-based MultiCare Health System, the first to license virtual care technology for its hybrid emergency and primary care services. care service.