Sharecare Acquires doc.ai to Expand Engineering Expertise, Accelerate Digital Transformation of Healthcare Through Innovative AI Platform
Sharecare, the digital health company that helps people manage all their health in one place, today announced it has entered into a definitive agreement to acquire doc.ai, an enterprise artificial intelligence (AI) platform accelerating digital transformation in healthcare.
“The promise that AI holds in healthcare is about much more than identifying behavior patterns or mapping conditions to content,” said Jeff Arnold, founder, chairman, and CEO of Sharecare. “By securely and privately turning data into insights and insights into action through AI, ultimately we will continue to foster a culture of sharing care that drives improvement across the continuum – from personal health goals to community well-being to medical research. Integrating doc.ai’s enterprise technology into Sharecare’s flagship platform enables us to unlock the value of health data in a compelling, impactful, and scalable way while advancing our shared mission to expedite digital transformation in healthcare.”
Through the doc.ai acquisition, Sharecare adds to its team more than 70 engineers with 11 PhDs who have developed technology and product offerings that enable clients to launch products faster and at lower costs. The digital health company also is making key executive leadership appointments, including naming doc.ai co-founders Sam De Brouwer and Walter De Brouwer as Sharecare’s new chief strategy officer and chief science officer, respectively, and integrating other senior management into the company’s leadership team.
“Over the last five years, we have worked tirelessly to foster better health outcomes for current and future generations through accessible data, AI, and zero trust infrastructure, and we are fortunate to join the exceptional team of like-minded innovators at Sharecare,” said Sam De Brouwer. “We are fiercely committed to building privacy-first solutions that drive demonstrable value for end users, and we are excited about the opportunity to scale that work under Jeff’s vision and through Sharecare’s extensive customer base.”
Arnold added, “At Sharecare, we have a well-documented track record of leveraging technology to bring much needed scalable innovation to healthcare and, with this acquisition, we are excited to not only add doc.ai’s exceptional technology and talent to Sharecare, but also immediately capitalize on our complementary efforts in verticals like behavioral health – with Unwinding Anxiety and Serenity – and health security – with VERIFIED and Passport – while forging a path for future collaboration with Anthem, Inc., a leading health benefits company.”
For the last five years, doc.ai has brought privacy-first digital health solutions to market that increase engagement and personalization and expand access, ultimately helping healthcare organizations – including Anthem – increase the pace of innovation and create pathways to better health outcomes. Collaborating with doc.ai since 2018 to help power its digital development, Anthem uses doc.ai’s platform and portfolio of privacy-first technologies and artificial intelligence software services to drive personalization of its digital assets and create improved value for users.
As a significant relationship to doc.ai, Anthem now becomes a strategic partner with Sharecare as part of the transaction and Rajeev Ronanki, senior vice president and chief digital officer at Anthem, will join Sharecare’s board of directors.
“We have seen firsthand the quantifiable impact doc.ai has made in healthcare transformation and – given their acquisition by Sharecare – are excited about the opportunity to amplify our collective success throughout our extensive customer bases and product offerings,” said Anthem’s Ronanki. “Both organizations are relentlessly focused on the end user and have shared visions to apply technology to deliver a proactive, predictive, and personalized experience. Together, we are unified in our goal to improve consumers’ health and well-being as well as simplify the healthcare experience through innovation.”
Financial terms of the deal were not disclosed.
The acquisition is subject to customary and regulatory closing conditions, and closing is expected to occur in the first quarter of 2021.
King & Spalding LLP is acting as legal advisor and J.P. Morgan Securities LLC is serving as financial advisor to Sharecare for this transaction. L2 Counsel, P.C. is acting as legal advisor to doc.ai with regulatory support from Foley & Lardner LLP.
Founded in 2016, doc.ai is a Silicon Valley-based company accelerating digital transformation in healthcare using edge computing and privacy-preserving infrastructure with the goal of unlocking the value of health data. The company licenses AI modules and creates products for a portfolio of clients, including payers, pharma and providers. For more information, please visit https://doc.ai/ or follow @_doc_ai on Twitter.
Sharecare is the leading digital health company that helps people – no matter where they are in their health journey – unify and manage all their health in one place. Our comprehensive and data-driven virtual health platform is designed to help people, providers, employers, health plans, government organizations, and communities optimize individual and population-wide well-being by driving positive behavior change. Driven by our philosophy that we are all together better, at Sharecare, we are committed to supporting each individual through the lens of their personal health and making high-quality care more accessible and affordable for everyone. To learn more, visit www.sharecare.com.