M&A moves amidst SPAC setbacks

Last week consisted of continued M&A commotion, a pinch of primary care prospecting, plus a sprinkle of SPAC fizzle to round it all out. The Department of Justice opted to approve UnitedHealth’s acquisition of Change Healthcare, and barring any appeal the two companies will soon combine. Heavy hitters CVS and Humana are eyeing Medicare Advantage provider Cano Health, heightening the stakes after the hubbub following Amazon’s One Medical purchase and CVS’s simultaneous snap-up of Signify Health. Notably, Cano went public in 2020 through a SPAC—and given how most SPACs have fared on the markets, activist investors had pushed for its sale. Speaking of SPACs, recent analysis shows 676 such vehicles trading without a target, of which 80% are likely to liquidate. While the struggles of the market correction are real, there’s certainly no shortage of activity and opportunity. Stay tuned for next week when we’ll drop our Q3 funding recap—and what current signals spell for Q4 and beyond.

Headlines

'It's Creating Change': How Some Startups Are Circumventing Payers
Insurers must evolve by adopting new models and tools to keep up MedCity News

U.S. Adults Should Get Routine Anxiety Screening, Panel Says
+ Lyra Health adds specialized care for teens and kids AP News

Scientists Are Using A.I. To Dream Up Revolutionary New Proteins
New advances mean cutting down design time from months to seconds Nature

Epic Offers New Program Aimed At Clinical Trial Matchmaking
Hopping on the necessary trend of expanding access to clinical trials Fierce Healthcare

Recent Funding

• TCARE secures $17M for its suite of family caregiver support technologies
• Zócalo Health, a virtual care provider for the Latino community, inks $5M
• Leuko lands $5M to develop connected, non-invasive white blood cell monitoring devices
• Perch pulls in $4M for 3D-imaging based strength training optimization tool
• Pattern Health grabs $3.3M for digital health innovation platform and toolkit
• Tuned bags $2.5M for specialty employee hearing benefits program