Morning, and welcome to Insider Healthcare. I'm Allison DeAngelis, and today in healthcare news:
- A top analyst explains what's driving a banner year of healthcare consolidation.
- Digital therapeutics firm Pear is going public in a $1.6 billion SPAC deal.
- WHO's top scientist isn't sold on booster shots, yet.
If you're new to this newsletter, sign up here. If you've got biotech/pharmaceutical industry tips, email me at email@example.com or tweet @ADeAngelis_bio. Now, let's dive into the news….
Healthcare startups are driving a takeover boom. A top digital health analyst explains what's driving it.
- Many digital health companies started by solving singular pain points within healthcare, Megan Hernbroth reports.
- Now that the market has matured, users are looking for companies that offer more comprehensive software.
- Just as consolidation led to "mega-biotechs," a few companies stand to win big in digital health.
Pear Therapeutics is going public in a $1.6 billion SPAC deal. Its projected revenue reveals just how hard it is to make money with a doctor-prescribed app.
- Pear Therapeutics, which makes apps to treat substance abuse and insomnia, is going public through a SPAC deal.
- Companies like Pear are experiencing slow commercial launches due to a lack of insurance reimbursement.
- The company is hoping to boost revenue from $4 million this year to $125 million in 2023.
Drugmakers are pushing forward with COVID-19 booster shots, but the WHO's top scientist doesn't know if it's a good idea
- The WHO's top scientist said it's too early to recommend COVID-19 vaccine booster shots.
- Soumya Swaminathan said we don't yet have enough data, Dr. Catherine Schuster-Bruce reports.
- Vaccine manufacturers are developing extra doses that could boost the immune response in fully-vaccinated people.
More stories we're reading today:
- Tens of thousands of COVID-19 survivors in India are developing deadly 'black fungus' infections that can lead to blindness (Insider)
- National Institutes of Health Director Dr. Anthony Fauci is defending himself from criticism that he 'misled' Americans in the early days of the pandemic (Axios/New York Times)
- BIO's chief on the FDA commissioner rumors, drug pricing, and IP rights (STAT News)
- 'We'll all be dead by June': Jared Kushner lashed out at a health official after hearing about mask shipments, according to a new book (Insider)
- The future of US healthcare may be playing out in Nevada (WSJ)