The first half of 2023 averaged just 12 digital health startup acquisitions per month, down from 15 a month in 2022 and 14 monthly over the past five years, Rock Health found.
Startups may be waiting out offers that are lower than ones received in previous quarters or that were below the sum of their fundraises, and some startups might not be revealing deals publicly if terms are less-than-ideal, according to the July 10 report. Some startups are also folding due to large health systems scrapping partnerships formed during the pandemic.
Here are four notable digital health startup acquisitions from the first half of the year, per the report:
1. Transcarent acquired 98point6's artificial intelligence-backed virtual care platform and business in March as part of a $100 million deal.
2. Reproductive health startup Twentyeight Health bought competitior SimpleHealth's AI-enabled virtual care platform and business in April.
3. Click Therapeutics, Welt, Nox Health and Harvest Bio in May purchased the digital therapeutics assets of Pear Therapeutics, which had filed for bankruptcy in April, for just over $6 million.
4. Thirty Madison in June acquired the intellectual property and patient files of birth control provider The Pill Club, which had declared bankruptcy in April.