By JESSICA DaMASSA, WTF HEALTH
Another virtual care company arrives on the New York Stock Exchange as UpHealth ($ UPH) emerges from the combined merger of UpHealth Holdings and Cloudbreak Health with GigCapital2 SPAC. We have UpHealth CEO Ramesh Balakrishnan and Chairman Jamey Edwards here on ‘List Day’ to keep us updated on strategic developments and integrations that have occurred since the announcement of PSPC’s IPO. ‘UpHealth at the end of 2020.
You may remember this deal as the one that brought together six different companies in four of the fastest growing areas of digital health: global telehealth, integrated care management, digital pharmacy and behavioral health. The story is still the same, but the value proposition around the bundle has gelled. UpHealth sees itself as a partner of local healthcare providers around the world who need a helping hand to build the integrated digital healthcare model needed to meet growing patient demands and the economic realities of a healthcare experience. ‘digitally transformed’ healthcare. How is this different from what we see from other publicly traded telehealth companies like Amwell, Teladoc and Hims? Or, what about those telehealth-empowered retail giants like Amazon, Walmart, and CVS Health who, like UpHealth, see a lot of benefits in the duality of making healthcare more digitally convenient, while at the same time integrating seamlessly with local in-person health centers? We’ve got everything you want about UPH’s positioning, business model, revenue forecast (still $ 180-190 million for 2021) AND even some dropping customer names (Amazon? Really ?!) while the action hits the market.
Bonus: Want to dig deeper into this matter? For more on UpHealth, check out our previous conversation with President Chirinjeev Kathuria, Jamey Edwards and Al Gatmaitan from February 2021. The link is right here: https://youtu.be/50PIVdUjnPU