Through the doc.ai acquisition, Sharecare adds to its team more than 70 engineers with 11 PhDs who have developed technology and product offerings that enable clients to launch products faster and at lower costs.
Fremont, CA: Sharecare, the digital health company that helps people manage all their health in one place, announced that it has entered into a definitive agreement to acquire doc.ai, an enterprise artificial intelligence (AI) platform accelerating digital transformation in healthcare.
"The promise that AI holds in healthcare is about much more than identifying behavior patterns or mapping conditions to content," said Jeff Arnold, founder, chairman, and CEO of Sharecare. "By securely and privately turning data into insights and insights into action through AI, ultimately we will continue to foster a culture of sharing care that drives improvement across the continuum – from personal health goals to community well-being to medical research. Integrating doc.ai's enterprise technology into Sharecare's flagship platform enables us to unlock the value of health data in a compelling, impactful, and scalable way while advancing our shared mission to expedite digital transformation in healthcare."
Sharecare is also making key executive leadership appointments, including naming doc.ai co-founders Sam De Brouwer and Walter De Brouwer as Sharecare's new chief strategy officer and chief science officer, respectively, and integrating other senior management into the company's leadership team.
"Over the last five years, we have worked tirelessly to foster better health outcomes for current and future generations through accessible data, AI, and zero trust infrastructure, and we are fortunate to join the exceptional team of like-minded innovators at Sharecare," said Sam De Brouwer. "We are fiercely committed to building privacy-first solutions that drive demonstrable value for end users, and we are excited about the opportunity to scale that work under Jeff's vision and through Sharecare's extensive customer base."
The financial terms of the deal were not disclosed. The acquisition is subject to customary and regulatory closing conditions, and closing is expected to occur in the first quarter of 2021. King & Spalding LLP is acting as legal advisor, and J.P. Morgan Securities LLC is serving as financial advisor to Sharecare for this transaction. L2 Counsel, P.C. is acting as legal advisor to doc.ai with regulatory support from Foley & Lardner.