Elevance Health

Membership-based, non-insurance healthcare companies helping maintain a steady state of well being.

Preventive Healthcare

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 Sharecare is a preventive care platform that provides a range of personalized digital therapeutics programs to help members achieve their health goals through lifestyle changes. The company offers a wide range of digital therapeutic and health coaching programs covering mindfulness, tobacco cessation, weight loss, and chronic disease management.&nbsp;
 
 
 The app-based platform is available to track vitals, set goals, order medication, and store medical records that can be accessed by a user&rsquo;s doctor. For healthcare providers, the platform offers value-based care programs, information management solutions, and payment integration.&nbsp;
 
 
 The company operates a B2B2C business model targeting employers, health insurance companies, life sciences companies, and healthcare providers. As of March 2023, the company has over 12 million members.
 
 
 In August 2021, the company acquired CareLink, an on-demand digital home-based healthcare platform. The acquisition allowed Sharecare to enter the home care space, providing access to CareLinx&rsquo;s network of 450,000 caregivers. This marked the 18th acquisition by the company since its inception in 2010.&nbsp;
 
 
 Sharecare began trading on the Nasdaq in July 2021, under the ticker symbol &ldquo;SHCR&rdquo; following a merger with special purpose acquisition company Falcon Capital Corporation. However, in 
 <a href="https://sp-edge.com/updates/30782">
 June 2024
 </a>
 , the company was acquired by healthcare investment firm Altaris for a consideration of USD 518 million and transitioned to a privately owned entity.
 
 
 For 
 <a href="https://about.sharecare.com/press-releases/sharecare-announces-fourth-quarter-and-full-year-2023-financial-results-and-operational-highlights/">
 FY2023
 </a>
 , the company reported a revenue of USD 445.3 million, a 1% YoY increase. However net loss for the year increased by 8/3% YoY to USD 128.5 million.
 
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More important now than ever, telehealth will long outlast the pandemic that drove its growth.

Telehealth

K Health is a telehealth provider that allows users to get personalized health information based on the experiences of other patients. Users can check how people with the same symptoms have been diagnosed and treated by doctors free of charge, allowing them to make informed decisions about the next steps in the treatment. K claims that its service is better than Google as K considers personalized information such as age, gender, and medical history in presenting results. The app also allows users to consult a doctor’s opinion at a fee. For unlimited chats with a doctor, K charges USD 9 per month (or USD 19 for a one-off chat). Users can share their free K evaluations with a board-certified doctor, who will pick up after automated results. The doctor will diagnose, prescribe medicine, and advise users. &nbsp;As of <a href="https://khealth.com/primary-care/">July 2024</a>, the company charged users USD 49 per month for access to its healthcare services.The company acquired teletherapy platform Trusst in <a href="https://www.khealth.com/blog/about-k/k-health-acquires-trusst/">August 2021</a> to expand its mental health solutions, allowing K Health users to access on-demand text-based therapy and receive their medication at home, without the need for insurance or scheduling appointments.As of July 2024, the company noted that its platform’s database contains the data of about 2,000 patients, and is available across 48 states.Key customers and partnershipsMost recently, in <a href="https://sp-edge.com/updates/33651">September 2024</a>, K Health partnered with Hackensack Meridian Health, New Jersey's largest health network, to launch an AI-driven primary care service. HMH 24/7 began offering patients 24/7 access to Hackensack Meridian Health clinicians for primary care needs through their smartphones. The service integrated virtual and in-person care, using K Health's AI technology to streamline clinical processes and provide clinicians with comprehensive patient health profiles.The company partnered with medical and research center Mayo Clinic in <a href="https://sp-edge.com/updates/25160">January 2024</a> to build an AI solution aimed at preventing premature deaths caused by heart disease and stroke. Through the partnership, K Health's proprietary algorithms will be used to create an advanced AI-ECG (AI-enhanced electrocardiography) technology for risk assessment and remote patient monitoring. Mayo Clinic will provide de-identified patient data to refine the AI model used with the AI-ECG. This model will take into account factors such as age, gender, and health history to optimize treatment and predict risks.Prior to this, in <a href="https://sp-edge.com/updates/22600">July 2023</a>, K Health partnered with California-based primary care provider Cedars-Sinai, to incorporate K Health’s technology for virtual and urgent care services into Cedars-Sinai’s operations. Through the partnership, K Health and Cedars-Sinai began developing an app that helps patients connect with K Health’s AI and chat with doctors and nurses. The app, called Cedars-Sinai Connect, was launched in October 2023 for patients in California. Through the app, patients could access Cedars-Sinai experts for sick, chronic, and preventive care with 24/7 availability. The app uses AI technology developed by K Health and patients can pay per session or opt for a subscription fee for unlimited follow-up and remote visits.

Redefining hospital care with the comfort of home

Hospital-at-Home

CareBridge is a value-based healthcare company founded in 2018 that provides services to Medicaid and dually eligible patients with physical, intellectual, and developmental disabilities who receive home and community-based services (HCBS). The company offers solutions including 24/7 clinical support, decision support, data aggregation, and electronic visit verification. CareBridge's 24/7 clinical support solution involves deploying tablets to high-risk individuals' homes, allowing patients, family members, and caregivers to contact CareBridge's interdisciplinary clinical team of physicians, nurses, pharmacists, and social workers via video visits at any time. The company also conducts regular assessments to ensure patients have the necessary resources and support to maximize their independence and safety at home. CareBridge's decision support product provides health plan care managers with recommendations on HCBS types and levels to help members achieve greater independence while managing costs. The company's electronic visit verification solution is compliant with the 21st Century Cures Act. As of June 2023, CareBridge served 84,000 HCBS members across 12 states and Washington, DC The company's interventions have been shown to reduce emergency room visits, hospitalizations, and total costs while improving clinical quality and independence. CareBridge takes financial risk for the total cost and quality of care for patients, aiming to ensure individuals receive appropriate services at home to prevent unnecessary hospitalizations and ER visits.
Key customers and partnerships
CareBridge partners with managed Medicaid and DSNP plans, including four of the nation's five largest managed Medicaid plans: Optum Ventures, CVS Ventures, Anthem Inc., and HLM Venture Partners (on behalf of Centene Corp.). These organizations collectively serve nearly 60% of all Americans receiving home and community-based services. CareBridge had expanded its services to approximately 115,000 patients across 13 states and the District of Columbia. The company collaborates with home care and home health companies that utilize CareBridge's electronic visit verification and session-data tools.

Main Street Health is a provider of value-based, care-focused healthcare services aimed at addressing rural wellness concerns. The company's healthcare services are data-driven, and it provides partner clinics with employees, technology, critical access hospitals, community health centers, and possibilities to flourish in the care delivery model, allowing rural residents to receive the high-quality treatment they need.

GoHealth is a health insurance marketplace that offers health insurance brokerage and medicare plans for individuals and businesses.

Somatus is a healthcare company that partners with health plans, health systems, nephrology, and primary care groups. It provides integrated care for patients with or at risk of developing kidney disease. Somatus' vertically integrated clinical services and technology delay or prevent disease progression, improve quality and care coordination, and increase the use of home dialysis modalities and rates of kidney transplantation. The company is headquartered in McLean, Virginia and is founded by a team of healthcare operators, entrepreneurs, and clinicians who treat kidney disease.

Sharecare is the digital health company that helps people – no matter where they are in their health journey – unify and manage all their health in one place. Our comprehensive and data-driven virtual health platform is designed to help people, providers, employers, health plans, government organizations, and communities optimize individual and population-wide well-being by driving positive behavior change. Driven by our philosophy that we are all together better, at Sharecare, we are committed to supporting each individual through the lens of their personal health and making high-quality care more accessible and affordable for everyone.

Founded in 2015, Vim connects data to workflow at health care’s “last mile”: within clinical operations at the point of patient care. Health plans, patients, and medical providers of every size – from independent practitioners to integrated delivery systems – use Vim software to connect data and care across the health system. Vim’s mission is to power affordable, high quality health care through seamless connectivity. For more information, please visit getvim.com.

Sera is a women’s health diagnostics company dedicated to improving the lives of women and babies through precision pregnancy care. Sera provides pivotal information during pregnancy to physicians, designed to help improve the health of their patients, and to reduce the costs of healthcare delivery. Sera has a robust pipeline of innovative diagnostic tests focused on the prediction of preterm birth risk and other complications of pregnancy. Sera’s PreTRM® Test reports to a physician the individualized risk of spontaneous premature delivery in a pregnancy, enabling earlier proactive interventions in women with higher risk.

Candlelit Care empowers Black women to best understand their struggles and seek the care they need. We leverage clinical research on perinatal mood disorders and AI to enable quicker access to mental health screening and treatment for Black women and women of color trying to conceive, currently pregnant or recovering from labor.  In partnership with birth workers, we help women living in maternity care deserts at risk of stress, depression and anxiety achieve health equity through app-based symptom triage, industry-leading perinatal mental health coaching and education at the point-of-care. Candlelit Care is backed by passionate investors who share in our mission to radically address the Black maternal health crisis in the U.S., including MedTech Color, Springboard Enterprises, CUNY School of Public Health, Cedars Sinai Technology Ventures, Techstars Impact powered by Cox Enterprises. Candlelit Care was founded in 2019 and is headquartered in Charlotte, NC.

Sometimes you just need to talk! At Toucan we get that, and we want to give everybody somebody to talk to. You’ll use Toucan to join one-on-one conversations called Huddles, focused on a shared topic e.g., social isolation/loneliness, being a caregiver, a new parent, facing a chronic illness etc. Toucan is not professional therapy; Toucan is peer-powered social support.

K Health is a data-driven digital primary care app that uses AI to deliver personalized primary care. The AI-powered health platform integrates data and creates a predictive model to enable its user to learn more about their personal well-being as well as help them better manage their health by comparing themselves to people with similar characteristics, gender, age, symptoms, and medical history, through a free symptom tracker. K Health is backed by Mangrove, 14W, Comcast Ventures, Lerer Hippeau, Primary Ventures, Max Ventures, The Box Group, GGV Capital, Valor Equity Partners, Kaiser Permanente, LTS Ventures, Atreides Ventures, PICO Partners, Marcy Venture Partners, and other New York and Israeli seed investors.

CareBridge exists to improve the lives of individuals who live with physical, intellectual, or developmental disabilities and receive home and community-based services. Founded in 2018 by Brad Smith and headquartered in Nashville, Tennessee, CareBridge focuses on providing 24/7 clinical support to patients, their family members, and their paid caregivers while helping to ensure that members receive the services, equipment, and support they need to live at home and remain independent. CareBridge exclusively serves patients on Medicaid or patients dually eligible for Medicare and Medicaid.

Amwell is a telehealth platform in the United States and globally, connecting and enabling providers, insurers, patients, and innovators to deliver greater access to more affordable, higher quality care. Amwell believes that digital care delivery will transform healthcare.  The company offers a single, comprehensive platform to support all telehealth needs from urgent to acute and post-acute care, as well as chronic care management and healthy living. With over a decade of experience, Amwell powers telehealth solutions for over 240 health systems comprised of 2,000 hospitals and 55 health plan partners with over 36,000 employers, reaching over 150 million lives. Amwell was founded in 2006 and is headquartered in Boston, Massachusetts.

Movable offers a wrist-worn activity monitor that measures all movement. Its product MOVband is a simple and fun wrist-worn activity monitor that measures all movement, not just steps. The company’s primary targets are corporate and school-based wellness programs.

Linkwell Health is a consumer engagement company that leverages powerful technology, high-performing content, and deep expertise to deliver omnichannel digital health experiences that build trust, maximize engagement, and activate consumers in the programs, benefits, and care they need. Linkwell Health’s engagement solutions drive acquisition, onboarding, quality metrics, benefits activation, and retention for some of the biggest brands in healthcare.

Physicians Immediate Care is a healthcare center. Their service includes immunizations, x-rays, diagnostics, telehealth, occupational health services, blood work labs and tests, physicals, medical procedures, COVID testing, immigration medical exams, pediatrics, immunizations, physical therapy, and occupational health services.

EElevance Health is an integrated whole-health approach to help people in their health journey and address their full range of needs. It is a health company dedicated to making real progress toward improving the health of the people and communities it serves.

<div> Elevance Health, Inc. (NYSE: ELV) is a leading health benefits company headquartered in Indianapolis, Indiana. The company provides a wide range of health insurance and healthcare services to approximately 115 million people across the US. Elevance Health offers a diverse portfolio of products and services through its family of companies. These include health plans under the Anthem Blue Cross and Blue Shield brand in 14 states, as well as Medicaid, Medicare Advantage, and specialty plans through subsidiaries like Amerigroup, HealthSun, and Simply healthcare Plans. The company's Carelon division provides pharmacy benefits management, behavioral health services, and other healthcare solutions. Elevance Health also operates specialty businesses in areas like dental insurance, vision coverage, and life and disability plans. Elevance Health completed its acquisition of Paragon healthcare in March 2024, expanding its capabilities in specialty pharmacy and infusion services. The company has also been navigating the end of pandemic-era Medicaid coverage provisions, which led to enrollment declines in 2023 as states conducted eligibility redeterminations. Elevance Health reported strong financial results for 2023, with USD 6 billion in profit on USD 171 billion in revenue. The company continues to focus on advancing whole-person health, simplifying healthcare delivery, and promoting health equity as it pursues its mission of improving the health of humanity. </div>

Elevance Health cut to Hold at Argus on earnings pressure in 2024-2025

Managing employee health-related benefits

Health Benefits Platforms

Enterprise platforms that help employees and their dependents receive primary or specialist care services as part of their health benefits. These platforms also provide access to Telehealth services, behavioral care services, and remote patient monitoring

Enterprise platforms that help employees better navigate their healthcare journey by identifying which healthcare services are covered under their benefits plan and how to best maximize their use (e.g. identifying a wider pool of suitable regional physicians for consultation)

Enterprise platforms that specialize in helping employees manage their pharmacy- and prescription-related benefits to refill prescriptions or dispense medication for in-store pickup or home delivery

Enterprise platforms that allow employers to directly manage and customize employee benefit plans. These platforms enable enterprises to present employees with multiple health benefits options across health plans and negotiate terms with third-party health administrator services and insurance providers

INCUMBENTS_PRESENT

PROMINENT_CATEGORY

<div>
 Elevance Health has teamed up with private equity firm Clayton, Dubilier &amp; Rice (CD&amp;R) to introduce Mosaic Health, a novel nationwide care delivery platform.
 Mosaic Health merges CD&amp;R's portfolio entities Apree Health and Millennium Physician Group, presenting a community-based care model with digital functionality for patient interaction, care synchronization, and navigation. The platform is projected to serve almost a million patients over 19 states, functioning across commercial, individual market, Medicaid, and Medicare coverage.
 Elevance Health intends to merge its Carelon Health division into Mosaic Health, subject to regulatory permission. The alliance seeks to revamp existing risk-based care delivery models and broaden access to top-quality, cost-effective healthcare.
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