Benzinga | Jun 15, 2021 08:44AM EDT

Cloudbreak Health Announces Business Combinations With UpHealth And UpHealth Holdings

Cloudbreak Health, LLC ("Cloudbreak"), a leading telehealth and video remote interpretation solutions provider,today announced that it has completed its previously announced business combinations with UpHealth, Inc. (f/k/a GigCapital2, Inc.) and UpHealth Holdings, Inc. ("UpHealth Holdings"). The combined entity UpHealth, Inc. ("UpHealth") is traded on the New York Stock Exchange under the ticker UPH. Cloudbreak will be known as Cloudbreak Health, an UpHealth company.

Merging UpHealth and Cloudbreak creates one of the only profitable, publicly traded global digital health companies. As partners to the major stakeholders in healthcare, the combined company spans the key markets required to connect information, coordinate teams, and deploy its digital care management and health infrastructure capabilities that allow the entire continuum of care to function as an integrated system of care.

"As part of UpHealth, Cloudbreak will now be able to offer a full suite of technology platforms and services to support the mission and digital transformation of local healthcare, with integrated care management and population health, telemedicine, pharmacy and behavioral health services at the fingertips of clinical and community-based teams globally," said Ramesh Balakrishnan, CEO of UpHealth.

UpHealth's mission is to reshape healthcare and power its digital transformation, helping to better deliver care and manage health to create a more caring, connected, accessible, and cost-effective system.

"Cloudbreak Health has always remained committed to its vision to humanize healthcare, using technology to promote health equity and resolve healthcare disparities," said Jamey Edwards, former Chief Executive Officer and Co-Founder of Cloudbreak Health, and current President of UpHealth. "This combination furthers our mission by providing healthcare solutions enabling equitable access to inclusive care for diverse populations. This is about pioneering new care models and empowering clinical teams globally to deliver high quality healthcare for all patients anytime, anywhere, on any device and in any language."

While Cloudbreak has previously operated primarily in the Health System and Clinic market, UpHealth has a broad, diverse client base spanning the Health System, Physician Office, Payor, Education, Employer, and Government Agency markets, representing a large expansion opportunity for Cloudbreak's services. In turn, with one of the largest installed bases in the country, Cloudbreak's telemedicine platform creates a foundation to deliver all of UpHealth's services to the U.S. health system and clinic market, enabling existing Cloudbreak customers to benefit from all of UpHealth's solutions.

"It's our privilege to support great entrepreneur teams like the one at Cloudbreak and partner with them to realize their impact," said Nate Locke, Managing Partner, Co-Head of Growth Equity at Kayne Partners Funds and Cloudbreak's sole Series A investor. "We are excited to be a part of this next chapter with UpHealth as this team increases that impact, now globally."

"We are very pleased to have completed the business combination of Cloudbreak and UpHealth Holdings into GigCapital2 to create UpHealth," said Avi Katz, Founding Partner of GigCapital Global and Co-Chairman of the Board of UpHealth. "This company is powering digital transformation across the globe and gives ESG investors and beyond the ability to participate in the healthcare's rapid evolution on a massive scale."

To learn more about Cloudbreak telehealth and language access solutions for your healthcare system, call (614) 468-6000, email communications@cloudbreak.us, or visit https://cloudbreak.us.