A mobile health company in Atlanta is heading to NASDAQ.
Sharecare, the consumer-facing health and wellness platform, released plans to merge with Falcon Capital Acquisition Corp.(NASDAQ: FCAC), a special purpose acquisition company (SPAC).
Once the merger is closed, Sharecare, Inc. will be listed on NASDAQ with an initial of $3.9 billion, according to a press announcement.
Falcon, led by Alan Mnuchin, says it will own approximately 20% of Sharecare. Mnuchin and Jeff Sagansky will join Sharecare’s Board of Directors.
At the closing of the deal, Sharecare and Falcon will donate $4 million to its local and global charitable efforts.
Additionally, Anthem Healthcare will be making a direct investment in the company. This comes after Rajeev Ronanki, senior vice president and chief digital officer at Anthem, joined Sharecare’s Board of Directors earlier this year.
“Anthem and Sharecare are focused on delivering proactive, predictive, and personalized health experiences for everyone,” said Ronanki. “We share a relentless focus on delivering meaningful improvements to consumers’ health and well-being as we simplify healthcare. Through this relationship, we will leverage human-centered design and digital technologies, including artificial intelligence, that increase consumer engagement, deliver more affordable healthcare, and achieve better health outcomes through services such as next-generation personalized healthcare concierge and advocacy services.”
The Road The Going Public
Since its founding in 2010, Sharecare has acquired 17 companies in the HealthTech space and has raised a total of $425 million. Most recently, it acquired Palo Alto-based doc.ai.
The idea was the brainchild of WebMD founder and CEO Jeff Arnold and TV personality Dr. Mehmet Oz.
Back in 2016, Hypepotamus covered Arnold’s interview with CNN’s Sanjay Gupta about the future of healthcare, which you can read here.