Q1 2021 Health IT/Digital Health PC/VE, M&A, IPOs/ SPACs Activity
by Healthcare Growth Partners (HGP)
The first quarter of 2021 has been one of investor optimism as the vaccine rollout continues ahead of expectations and economic activity begins to accelerate in response. Within the Health IT industry, the already strong investment and M&A trends seen in 2020 have only accelerated. Over the course of the quarter, we observed $7 billion in private equity and venture capital investment across 158 companies.
By comparison, Q1 of 2020 saw $3.2 billion and 127 investments. Health IT M&A activity has also been strong in the first quarter, with 114 transactions observed compared to just 88 in Q1 of 2020. The gradual loosening of pandemic restrictions and government stimulus both promise to continue to fuel this strong market activity into Q2 and into the future.
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It was another busy week for the SPAC market with numerous deal announcements and rumored deals. Benzinga s Spacs Attack covered the deals and news of the week.
Here is a look back at the announced deals, rumors and some top headlines.
SPAC Deals
Last-mile telehealth company Ambulnz is going public in a $1.1 billion deal with Motion Acquisition Corp (NASDAQ: MOTN). Ambulnz will rebrand as DocGo as part of the deal. The company operates with a business-to-business model serving hospital networks, insurance providers, municipalities and large commercial enterprises.
Ambulnz provides services such as testing, vaccination, bloodwork, IV/hydration, wound care and mobile imaging. The company operates in 23 states in the US and has operations in the UK. Additional states have been approved or are pending in the company’s expansion plan.