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New York, NY, United States, 2015/01/08 - Hearst Health announced a venture investment in Welltok, Inc., creator of the CaféWell platform, which allows insurers, hospitals and other health managers to work with consumers to help them achieve better health - Welltok.com / Hearst.com.
Hearst Health, a unit of Hearst Corporation, announced a venture investment in Welltok, Inc., creator of the CaféWell platform, which allows insurers, hospitals and other health managers to work with consumers to help them achieve better health
The announcement was made by Richard P. Malloch, president of Hearst Business Media, the group that includes Hearst Health and its venture group, and Gregory Dorn, MD, president of Hearst Health. Financial terms of the investment were not disclosed.
The Welltok platform helps people manage their own health with guidance that is tailored to their individual needs. Health plans and healthcare providers are able to incentivize and reward consumers for healthy activities.
“Hearst Health Ventures is dedicated to advancing businesses that are providing innovative solutions to healthcare challenges,” Malloch said. “We are very pleased to work with Welltok and its outstanding management team.”
Hearst Health Ventures takes minority positions in startups that offer health IT solutions and technology-enabled healthcare services. The healthcare venture fund is part of the Hearst Health network, which includes FDB (First Databank), Zynx Health, MCG and Homecare Homebase.
"Across the Hearst Health network, we are committed to providing cutting-edge technology to deliver widespread access to vital information that improves health outcomes,” Dorn said. “Welltok’s groundbreaking platform allows consumers to take charge and personalize their health journey. We are excited to align with Welltok in this important endeavor.” As part of the investment, Ellen Koskinas, managing director of Hearst Health Ventures, will become an observer on the Welltok Board of Directors.
“We are excited to have Hearst Health on board as a new investor,” said Jeff Margolis, chairman and CEO of Welltok. “As a leader in healthcare innovation combined with a tremendous cultural understanding of media and information, Hearst will be invaluable as we continue to transform the way population health managers partner with consumers to optimize their health.”
About Hearst Health and Hearst Corporation
The Hearst Health network includes FDB (First Databank), Zynx Health, MCG and Homecare Homebase, Hearst Health International, Hearst Health Ventures and the Hearst Health Innovation Lab (hearsthealth.com). The mission of the Hearst Health network is to help guide the most important care moments by delivering vital information into the hands of everyone who touches a person’s health journey. Each year in the U.S., care guidance from the Hearst Health network reaches 76 percent of discharged patients, 133 million insured individuals, 20 million home health visits, 1.88 billion retail pharmacy prescriptions and 3.26 billion prescription claims.
Hearst Corporation (hearst.com) is one of the nation’s largest diversified media and information companies. Its major interests include ownership of 15 daily and 34 weekly newspapers, including the Houston Chronicle, San Francisco Chronicle, San Antonio Express-News and Albany Times Union; hundreds of magazines around the world, including Good Housekeeping, Cosmopolitan, ELLE and O, The Oprah Magazine; 31 television stations, which reach a combined 18 percent of U.S. viewers; ownership in leading cable networks, including Lifetime, A&E, HISTORY and ESPN; significant holdings in automotive, electronic and medical/pharmaceutical business information companies; a 50 percent stake in global ratings agency Fitch Group; Internet and marketing services businesses; television production; newspaper features distribution; and real estate.
About WELLTOK, Inc.
Welltok, Inc. (welltok.com) is fundamentally transforming the way population health managers partner with consumers to optimize their health and get rewarded. Its groundbreaking CaféWell Health Optimization Platform™ organizes the growing spectrum of health and condition management programs, communities, apps and tracking devices. The platform, accessible via web and mobile, drives engagement by providing personalized guidance and leveraging social, gaming and cognitive technologies. Welltok’s novel approach increases revenue, improves operational efficiency and drives healthcare value.