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BFD Expert Voices - Health Tech Deals

BFD Expert Voices

Aug. 21 — This week we talked with Great Hill Partners managing partner Mark Taber about opportunities in the growing value-based care and self-insured employer markets.

Why it matters: Whether through a VBC model or self-insured plans, health care stakeholders are trying to lower the "risk" in risk-sharing, Aaron wrote.

Go deeper: Read Monday's Health Tech newsletter, plus Monday's Pro Rata on the Kennedy family scion investing in disability-focused startups.

1. Expert Voices: Talking VBC with Great Hill's Mark Taber

Photo illustration of Mark Taber surrounded by abstract shapes.

Photo illustration: Gabriella Turrisi/Axios. Photo: courtesy of Great Hill Partners

Aug. 22 — Private equity-backed Waystar, a health care payments vendor, will explore an IPO that could value the business at $8 billion, Axios' Claire Rychlewski confirmed.

Why it matters: If successful, Waystar would represent the first health tech IPO since the public markets frenzy of 2021.

Go deeper: Read Tuesday's Health Tech newsletter plus Tuesday's Pro Rata on Arm filing for its U.S. IPO.

2. Payments vendor Waystar eyes $8B IPO

Illustration of binary code surrounded by abstract shapes, red crosses, and dollar elements.

Aug. 23 — Digital pharmacy startup Truepill is reportedly slashing its valuation between 60% and 70%, per The Information.

Why it matters: The mail-order pharmacy sector has proved tricky to disrupt, with most people preferring to get their medicines through benefits coverage, Erin wrote.

Go deeper: Read Wednesday's Health Tech newsletter plus Wednesday's Pro Rata on the SEC watering down new private equity rules.

3. Truepill reportedly slashing valuation 70%

Illustration of a pen crossing out the "X" in the prescription symbol.

Aug. 24 — Keona Health, a Chapel Hill, N.C.-based health care software company, raised $7 million in Series A-1 funding, CEO Oakkar Oakkar told Aaron exclusively.

Why it matters: Despite being early stage, Keona anticipates becoming cash-flow positive within a year and intends to fund its own growth from then on.

Go deeper: Read Thursday's Health Tech newsletter plus Thursday's Pro Rata on the lack of economic insight during the GOP presidential debate.

4. Keona Health collects $7M

Illustration of a quarter as the earmuff of a woman's headset.

Aug. 23 — Conservative think tanks are preparing a health care game plan should a Republican retake the White House next year, by drafting regulations and identifying political appointees who could stock an incoming administration, Axios' Victoria Knight wrote.

Why it matters: The goal is to avoid the chaotic transition that unfolded under ex-President Trump, whose team struggled to get qualified people in place who could run the executive branch and other critical agencies.

5. GOP think tanks plot presidential health plan

Illustration of the White House with a game strategy diagram in a thought bubble.

Research associate Natalie Breymeyer here with your weekly digest.

⬛ Situational awareness: The newsletter will be dark from Aug. 28 to Sept. 4. We'll be reporting out stories and filing spot articles as they happen but we're taking the pre-Labor Day week to take a newsletter breather, reset, and come out firing on all cylinders on Sept. 5.

That's all for this week! See you again on Sept. 5.

🥖 Natalie is going to try to revive the sourdough starter that's been hibernating in her fridge since early summer.

🙏 Thanks for reading, and extra thanks to copy editor Mickey Meece. Please ask your colleagues, friends, and family to sign up.

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August 25, 2023

1. Expert Voices: Talking VBC with Great Hill's Mark Taber