Vivid Health Team has shed its telehealth commerce as it seeks to wait on away from monetary catastrophe.
Patient intake and tracking startup Florence bought telehealth provider Zipnosis from Vivid Health for an undisclosed quantity in a money transaction, Florence CEO Aniq Rahman acknowledged.
Suppliers at larger than 50 diverse health systems, such as SSM Health, absorb aged Zipnosis to time desk 4.5 million virtual visits, based totally totally on a info originate. Florence launched closing month with $20 million in seed funding led by Oscar Health co-founder Joshua Kushner’s Thrive Ventures, Google Ventures and Salesforce Ventures.
Florence will offer the Zipnosis platform to hospitals looking out out for virtual emergency division test-ins and care, Rahman acknowledged.
Vivid Health officers declined to comment.The health insurance protection company paid $51.4 million in money and stock to design Zipnosis in 2021, based totally totally on a Securities and Trade Commission filing on the time. Final November, Vivid Health reported paying $73 million for the telehealth provider.
Zipnosis founders Ben Bowman and Jon Pearce sued Vivid Health and its executives in Minnesota court closing month, alleging Vivid Health executives hid info sooner than its $12 billion initial public providing, leading Bowman and Pearce to accept stock below the deal.That case is ongoing.
The insurtech is reviewing bids for its California Medicare Income commerce. Vivid Health must proper a purchaser its closing insurance protection product by the waste of the month to soothe lenders after overdrawing its $350 million credit facility.
The corporate finalized a reverse stock shatter up Monday to raise its share tag above the $1 threshold to remain on the Contemporary York Stock Trade. Vivid Health stock opened at $14.01 on Wednesday, down from $14.39 at market finish on Tuesday.