Patient intake and tracking startup Florence is acquiring asynchronous telehealth company Zipnosis from
Bright Health (BHG: NYSE) in an all-cash deal, CEO Aniq Rahman tells Axios exclusively.
Why it matters: Corporate divestitures continue to provide fruitful acquisition opportunities for strategic buyers in a strained deal market.
What's next: After Florence digests this acquisition, Rahman says he sees potential opportunity to acquire similar companies serving other sites of care.
- I think there are going to be opportunities to strengthen what were doing, especially as it relates to reaching patients before or after their emergency medicine journey," says Rahman.
- At just 70 employees, Florence doesn't necessarily have the corporate development resources that a larger tech player might, he says.
- But it's a good time to be a well-capitalized buyer, particularly as startups struggle for funding and public players prune their business lines, he adds.