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Illustration: Annelise Capossela/Axios

Payment startup Nomi Health has acquired Artemis Health, which uses data to help U.S. employers fine-tune health offerings, in a $200 million deal.

Why it matters: The pairing of the two payment-minded startups is part of an ongoing consolidation wave in digital health where small, like-minded upstarts combine their assets to round out their offering.

Other examples of the trend include:

  • Telehealth giant Teladoc acquiring diabetes-focused virtual care provider Livongo for $18.5 billion.
  • Health clinic operator Carbon Health purchasing remote monitoring startup Alertive Healthcare for an undisclosed sum.
  • The merging of Headspace and Ginger, two mental health providers.

The details: While Nomi connects employers directly with health care providers, Artemis scans employers' health care budgets to trim the fat.

  • The combined companies will build on complementary strengths, providing customers a wider range tools for choosing and covering benefits..
  • Artemis brings existing partnerships with 500 employers and health plans including GE Appliances, Intuit, and J.B. Hunt.
  • Nomi will continue to build out its COVID-19 response program, which currently includes 200 pop-up clinics and seven laboratories.
  • The acquisition comes on the heels of Nomi Health’s $110 million Series A round, co-led by Rose Park Advisors and Arbor Ventures.
  • Artemis' team of 120 is joining the Nomi Health team of more than 2,000.

What's they're saying: "If we’re going to save the U.S. health care system we need to rewire it to run fast," says Nomi founder and CEO Mark Newman. "That’s our approach."

The bottom line: "The health care benefits sector is reaching maturity and part of that is consolidation — going from single solutions to suites and platforms," says Steven Wardell, a digital health consultant with the growth consulting firm Wardell Advisors.

Correction: An earlier version of this story mistakenly said the Livongo deal was $18.5 million, not $18.5 billion.

Go deeper

Jan 14, 2022 - Health

America's vaccination drive runs out of gas

Illustration: Annelise Capossela/Axios

The U.S. is likely reaching the end of the road on new vaccinations, after the U.S. Supreme Court blocked the Biden administration's vaccine mandate for large employers.

Why it matters: Cash prizes and other incentives barely moved the needle on vaccinations. So the government turned from carrots to sticks — but now it has lost its biggest stick.

45 million Americans under winter storm watches near New England

Computer model projection showing the winds moving around the powerful East Coast storm on Saturday Jan. 29, 2022. Image: https://earth.nullschool.net

Nearly 45 million Americans are under winter weather alerts and warnings from North Carolina to northeastern Maine Thursday night, as a major winter storm threatens the region.

Why it matters: It is predicted to be the biggest blizzard since 2018 to strike the Northeast with more than 2 feet of snow possible in parts of eastern Massachusetts, according to the National Weather Service.

Judge nixes Gulf of Mexico oil leases in climate-focused ruling

Tug boats prepare to tow the semi-submersible drilling platform Noble Danny Adkins through the Port Aransas Channel into the Gulf of Mexico on December 12, 2020 in Port Aransas, Texas. Photo: Tom Pennington/Getty Images

A federal judge on Thursday canceled the Biden administration's late 2021 sale of new oil-and-gas drilling leases in the Gulf of Mexico.

Why it matters: The ruling that the greenhouse gas emissions analysis by the Interior's Bureau of Ocean Energy Management (BOEM) was insufficient is a win for green groups that challenged the decision, as they seek to curb fossil fuel production.