Bright’s money-raising continues. Bright Health’s Zipnosis was sold to Florence Labs for an undisclosed amount. Zipnosis, acquired stealthily by their Minneapolis neighbor Bright in the latter’s Happy Time of April 2021, is a telemedicine/telehealth company that provides white-labeled ‘digital front door’ asynchronous telehealth and diagnosis triage for large health systems fully integrated into hospital EHRs. Today’s release does not mention acquisition cost or management/employee transitioning, though Zipnosis is confirmed in their boilerplate to have about 60 employees. One suspects the sale amount was not large.
Notably, the Zipnosis website has been cleansed of any Bright Health identification or releases. A quick look at Zipnosis staff on LinkedIn indicates the cutover (and presumably the sale) took place in March but for various reasons such as financial closings was not announced until today.
Zipnosis is one of telehealth’s Ur-companies, founded in 2009 and gaining 50-60 health systems before their sale. Zipnosis was a good buy, lightly funded, and with a unique technology that fit well and conveniently into EHRs. It was a smart addition for Bright’s practices under NeueHealth along with entree to health systems. Their later and larger competition at least in synchronous telehealth for health systems was Bluestream Health, bought last month by eVisit as more evidence of healthcare consolidation.
Florence Labs is a just-out-of-stealth startup based in NYC that automates clinical workflows and patient-facing access to address the problem of acute care clinical capacity. It was founded in 2021 by Aniq Rahman (president of Moat, acquired by Oracle in 2017 for $850 million). It was recently and modestly funded (March release) with $20 million in seed capital from Thrive Capital, GV (Google Ventures), and Salesforce Ventures with participation from Vast Ventures, BoxGroup, and Atento Capital. It’s currently working with about 40 healthcare systems, the most recently announced Luminis Health in Maryland. It’s not to be confused with the significantly larger Florence Healthcare (clinical trial site enablement). FierceHealthcare
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