Looks like we have another acquisition to talk about today. Portland startup Provata Health has been acquired by StayWell, a division of healthcare giant Merck.
“Provata Health offers an impressive platform and innovative design that, like StayWell’s offerings, is grounded in scientific research with peer-reviewed, published studies that demonstrate its success in helping people become happier and healthier. The Provata platform is a great complement to StayWell’s existing product portfolio, enhancing our competitive market position and further empowering individuals to take active roles in their own health and achieve the best possible outcomes,” said StayWell CEO Nicole Latimer. “From home, to work, to their healthcare providers, this acquisition directly supports our mission to help consumers throughout their entire well-being lifecycle.”
Terms of the deal were not disclosed. But this is an interesting exit for a number of reasons. First, given that the company was founded in 2013, this exit occurred on a much shorter timeframe than most exits in Portland. Second, it’s the first exit of a company that is part of Portland’s burgeoning VR community. Third, it’s a digital health company. And while Portland has long had expertise in that realm, we’re seeing a whole new generation of interesting digital health and biotech companies coming into the fore.
For more information, see the Merck StayWell press release.