Healthcare startup Sharecare is weighing an IPO, acquisition - Business Insider

A healthcare venture founded by Dr. Oz and backed by Oprah is meeting with bankers about going public

10/31/2020 12:33:00 AM

A healthcare venture founded by Dr. Oz and backed by Oprah is meeting with bankers about going public

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Healthcare startup Sharecare is weighing whether to go public next year, Business Insider has learned. The company is meeting with bankers to discuss several options for a stock market debut, including through the traditional IPO process and a deal with a blank-check company, a person familiar with the plans said. 

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Being acquired is also on the table, and Sharecare has already prepared "data rooms" for potential investors to vet the company, said the person, who has direct knowledge of the talks and asked not to be named. "The events of 2020 have accelerated both user adoption of and investment in the virtual health industry," Jen Martin Hall, a Sharecare spokeswoman, said. "As we look to 2021, we are focused on strategically propelling the growth of Sharecare while advancing the well-being of each of our users and their communities."

Funding for digital health startups has set record after record over the course of the coronavirus pandemic. So far in 2020, they've raised $9.4 billion, which already eclipses the previous record of $8.2 billion in 2018, according to, a venture and advisory firm. headtopics.com

That's fueling a fast-track to public markets,as Business Insider's Megan Hernbroth reported. SPACs, or special purposes acquisition companies, are becoming a popular exit option for startups like Clover Health and Hims. They allow startups to go public essentially through mergers, sparing still-small companies from the regulatory hassle of the traditional IPO process. 

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