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Olympus Partners last week agreed to acquire EyeSouth Partners from Shore Capital Partners, valuing the eye care services organization at just shy of $1 billion, sources told Sarah Tuesday.

Why it matters: Turbulent financing markets have prevented many large health care services assets from trading hands this summer — but EyeSouth bucks that trend.

Plus: ⌨️ Tuesday's Pro Rata, with news on Truth Social and UBS-Wealthfront.

1. Olympus buys EyeSouth for almost $1B

After losing out on One Medical, CVS moved fast to land an $8 billion deal for Signify Health — the first move in what executives indicate is a bigger vision to reinvent how care delivery is orchestrated, Sarah wrote Wednesday.

Why it matters: CVS really wanted Signify — and proved it's a good time to be a well-capitalized strategic buyer that can pay all cash, versus private equity buyers that have to arrange debt financing.

Plus: ⌨️ Wednesday's Pro Rata, with news on PE fundraising woes and Muck Rack.

2. Behind the scenes of CVS-Signify

Illustration of the CVS logo with dollar bills forming the heart.

Custom nasal spray at the ready, online allergy treatment startup Allermi is looking to penetrate an underserved consumer market with its first round of funding, Erin wrote Thursday.

Why it matters: Allermi is focused on a relatively untapped segment of the direct-to-consumer arena: personalized prescription allergy treatment.

It's riding a wave of investor interest jumpstarted by DTC startups including Hims & Hers and Ro. 

Plus: ⌨️ Thursday's Pro Rata, with news on BlackRock and Cineworld.

3. Don't sneeze at Allermi

Illustration of a bottle of nasal spray spraying the shape of a dollar sign.

Digital health giant Headspace Health acquired The Shine App, a personalized self-care and wellness startup, Sarah wrote on Thursday.

Why it matters: Headspace, based in Santa Monica, California, is intent on promoting health equity and inclusivity by bringing mental health care to under-represented communities — and Shine furthers that mission, CEO Russ Glass says.

4. Headspace buys Shine

Illustration of a man in profile with a phone over the top half of his head revealing a view of his brain.

Happy Friday, readers! Claire Rychlewski, Health Tech Deals newsletter editor, here with your digest of this (short) week's newsletters.

Enjoy your weekend! Sarah and Erin will be back at it on Monday. 

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September 09, 2022

1. Olympus buys EyeSouth for almost $1B