UnitedHealth acquires PatientsLikeMe after Trump administration demands health-tech start-up to get majority investor

UnitedHealth Group has purchased healthcare-technology start-up PatientsLikeMe, according to CNBC.

PatientsLikeMe was forced to find a new majority investor by the Trump administration. Chinese company iCarbonX had previously held majority stake in the company. When PatientsLikeMe raised $100 million and sold majority interest in 2017, the company grew attention from the Committee of Foreign Investment in the United States.

The committee has been aggressively watching Chinese investments in American companies.

PatientsLikeMe provides an online service for patients to connect with other people who have similar health conditions. UnitedHealth confirmed PatientsLikeMe has been merged into its research and development group. An email sent to customers and obtained by CNBC said the acquisition was final on June 19.

"As always, we are committed to using your data for good, protecting your data, and advancing our understanding of diseases through your partnerships," the email to PatientsLikeMe users said. "There are not changes to the PatientsLikeMe name or your PatientsLikeMe membership. Our community and site remain a place where you can connect, track, and share with others as you've always done."

More articles about health IT:
Virtual drug screening initiative will use AI to find treatments for pediatric cancers
7 alerts, tools that hospitals are adding to their EHRs
Healthcare software company Phreesia prepares $125M IPO

Copyright © 2022 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars