SPAC GigCapital2 to merge with digital healthcare companies
November 24, 2020
Blank-check company GigCapital2 has agreed to merge with digital healthcare provider UpHealth and Cloudbreak Health, a telemedicine platform provider. The deal values the combined company at $1.35 billion and includes around $300 million in new funding from the GigGapital2 trust and a PIPE investment. The combined company, which will take UpHealth's name, aims to provide health systems and providers with a care management platform, along with telehealth, digital pharmacy and behavioral health services.