Amwell on Aug. 31 announced it finalized its acquisitions of two digital health startups: digital mental health platform SilverCloud Health and automated virtual health company Conversa Health.
Amwell signed definitive agreements to acquire the two companies in July. With the purchases totalling $320 million, Amwell said it plans to improve its reach to patients through interactive care tools and expand its client base to include hospitals, health systems, payers and employer clients of SilverCloud and Conversa.
SilverCloud's platform offers cognitive behavioral health programs and is used by 300 organizations, including Optum and Oakland, Calif.-based Kaiser Permanente.
Conversa specializes in helping health systems remotely manage and engage patients via automated text-based conversation. The company's partnerships include New Hyde Park, N.Y.-based Northwell Health and UCSF Health, among several other health systems.
Amwell is funding the $320 million transactions through a mix of stocks and cash.