Sharecare (Nasdaq: SHCR) – the digital healthcare firm that owns residence care platform CareLinx – is on the verge of an acquisition.

A subsidiary of Altaris Capital – a healthcare funding agency – is buying the corporate for $1.43 per share, which represents an 85% premium to Sharecare's June 20 closing worth. In complete, the deal is value about $518 million, in response to Market Overview.

Sharecare initially entered the Nasdaq at round $10 per share in November 2020. Almost 4 years later, the corporate will as soon as once more turn out to be non-public and now not checklist on the general public market.

“After embarking on a deliberate course of to maximise shareholder worth and finest place Sharecare for continued progress and success, we fastidiously evaluated a wide range of choices,” mentioned Jeff Arnold, founder and govt chairman of Sharecare, in an announcement declaration. “Our Board of Administrators has decided that this transaction is in the most effective pursuits of Sharecare and its shareholders and can ship vital, instant and sure worth to our shareholders upon closing.”

Based mostly in Atlanta, Sharecare is a digital healthcare firm that makes use of a data-driven digital well being platform to handle affected person well being. It really works with employers, well being plans and authorities packages.

In October, Claritas Capital made an unsolicited provide for Sharecare “for a money consideration of between $1.35 and $1.80 per share.” Nothing got here of the provide.

In the end, New York Metropolis-based Altaris Capital is an funding agency centered solely on the healthcare sector. Present investments are in medical system, pharmaceutical, insurance coverage and healthcare know-how corporations.

Sharecare acquired CareLinx in 2021 for a purchase order worth of $65 million. CareLinx affords customers entry to each medical and non-medical residence care providers. In concrete phrases, it has a community of greater than 450,000 healthcare suppliers and docs. It really works instantly with payers, suppliers, employers and customers to ship residence well being care.

Final 12 months, Arnold described the “explosive progress” CareLinx had seen beneath Sharecare possession. For instance, it has added nearly 2 million extra members to its platform in 2022 alone.

“Now we have expanded our residence care providing to ship personalized care administration packages and conventional care to high-risk populations, leading to improved experiences, member recruitment and retention, high quality assessments and price financial savings,” Arnold mentioned on the time.

Though Sharecare's share worth has fallen, the corporate has regularly touted CareLinx's capabilities.

The Altaris-Sharecare transaction is predicted to shut within the second half of 2024.

“With Altaris as a companion, we’re excited to proceed Sharecare's mission utilizing their deep experience within the healthcare trade, in addition to elevated capital and strategic and operational flexibility to proceed offering main options to our clients in our three nations. channels,” Arnold continued.