S.F. digital health startup spinoff raises $95M in bid to take on WebMD
Healthline Networks, a San Francisco-based digital health company with two discordant product lines, has split in two in the hope of creating two successful progeny.
One portion, the fast-growing Healthline Media, will attempt to take on WebMD in the consumer health care information space, with the help of a $95 million investment by Summit Partners. It’s led by CEO David Kopp, a former general manager of the entity when it was a unit of Healthline Networks.
The other portion, Talix Inc., has spun off as an independent company with a $14 million cash infusion from former Healthline Networks’ shareholders and investors, and is headed by former Healthline Networks’ CEO Dean Stephens.
Talix, which now focuses on a patient- risk-management software product called CodingInsight, plans to create new products also powered by its proprietary HealthData Engine, officials said.
Healthline Media’s Healthline.com website provides medically reviewed clinical content, and has been the fastest growing health information site over the last two years, officials said, with 22 million monthly U.S. users and 40 million global users, according to comScore. It’s currently the fourth-largest health information site, the company says.
Kopp said in a Jan. 11 statement that its year-over-year growth rate in traffic last year was 70 percent.
Talix, meanwhile, says it will continue to provide information tech software to existing clients while it “evolves” its big patient data analytics capabilities. Along with Stephens, existing executives Niraj Katwala, Murray Brozinsky and Derek Gordon will stay with the software startup, which launched a year ago as part of Healthline Networks.
At Healthline Media, Summit Partners’ managing director Craig Frances, M.D., joins the new company’s board of directors.
Healthline Networks, a San Francisco-based digital health company with two discordant product lines, has split in two in the hope of creating two successful progeny. One portion, the fast-growing Healthline Media…
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