Bright Health, the Minneapolis-based specialty health insurer, has acquired a telehealth business, also located in Minneapolis, to expand access for personalized health care.
Bright Health snaps up local telehealth company Zipnosis
Insurer acquires Mpls. telehealth firm to expand personalized health care.
April 9, 2021 at 4:36PM
Terms of its deal to buy Zipnosis Inc., which developed a virtual care platform, were not disclosed in a release from Cain Brothers, which served as Zipnosis' exclusive financial adviser for the transaction.
Messages to Bright Health, Zipnosis and Cain Brothers were not immediately returned.
Zipnosis, which has raised roughly $25 million from private investors since its founding in 2008, according to Crunchbase, is used for virtual triage and visits by nearly 60 large health systems across the country.
In 2020, the platform was used to screen and treat more than 2 million patients.
Investors in Zipnosis include Ascension Ventures, Safeguard Scientifics, Hyde Park Ventures and Waterline Ventures, said the news release.
Bright Health was started by several UnitedHealth Group executives and has raised $1.5 billion in venture funds since 2016.
The company attracted $500 million in 2020 and uses its intelligent technology to provide health benefits coverage to over 500,000 people across 13 states.
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