UnitedHealth acquired Audax Health, a digital health company, as one of its first health-tech startup investments, but the startup didn't last long as a healthcare solution and was quickly rebranded, CNBC reported Feb. 18.
Five things to know about the history of Audax Health and its current reality:
1. UnitedHealth acquired a majority stake in Audax Health in 2014.
2. Audax founder Grant Verstandig snagged a position as chief digital officer at UnitedHealth after the acquisition.
3. Under UnitedHealth, Audax Health was rolled into Rally Health, a digital business UnitedHealth wholly acquired in 2017.
4. The evolution of digital health changed, and Rally Health was integrated into Optum because the model, as a stand-alone product, couldn't evolve the health business.
5. Mr. Verstandig left UnitedHealth toward the end of 2021, aiming to pursue venture investing, as he said the healthcare industry lacks innovation.