Healthcare analytics platform H1 has acquired Ribbon, backed by a16Z and Common Catalyst


H1, a healthcare knowledge analytics platform serving the pharmaceutical trade with knowledge on over 10 million healthcare professionals, has acquired Ribbon, a startup that helps sufferers discover docs which might be supported by their insurance coverage.

Monetary phrases of the deal haven’t been disclosed. The final time that Ribbon — based in 2016 and a Y Combinator alum — raised cash was in 2021, when it closed a $43.5 million Collection B that valued it at $283.5 million, per PitchBook knowledge.

Many startups that haven’t secured funding in over three years are more and more going through stress, with many turning into acquisition targets or going through imminent closure. However Arial Katz, co-founder and CEO of H1, advised TechCrunch that Ribbon “was not an organization that was operating out of enterprise.” H1 is paying a mix of inventory and money to accumulate Ribbon, which is incomes “effectively over tens of thousands and thousands in income,” he added.

Ribbon had raised $55 million general from buyers that embody Andreessen Horowitz, Common Catalyst and Rock Well being.  

For its half, H1 has raised round $200 million and was final valued round $773 million in 2022. PitchBook notes it additionally raised an undisclosed quantity in 2024.

H1 had its sights on combining with Ribbon for years, Katz advised TechCrunch. The 2 firms accumulate related data however serve totally different consumer units, he mentioned.

“I’ve been making an attempt to purchase Ribbon for 3 years,” Katz mentioned, including that the 2 firms have many synergies as a result of they accumulate related knowledge.

Ribbon serves sufferers by offering particulars about docs’ experience, price and high quality. Ribbon’s knowledge is bought by healthcare navigation firms like Transcarent and Rightway after which is made accessible to sufferers by medical health insurance websites. H1 in the meantime tends to work with pharmaceutical and different firms within the healthcare enterprise offering knowledge and different insights to assist them, for instance, arrange and run scientific trials.

Though Ribbon was possible not a fireplace sale, we anticipate to see many startups this yr struggling to boost follow-on funding and reaching the tip of their runways. They’ll change into acquisition targets, in the event that they don’t shut down altogether.

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