Digital health care company announced its plans Friday to through a merger with ., a special purpose acquisition company, or SPAC, backed by investment banker , brother of former U.S. Treasury Secretary . The combined company is expected to be valued at $3.9 billion with approximately $400 million in growth capital on the balance sheet.
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The merger is funded by $425 million in private investment led by Koch Strategic Platforms, , , and .
Sharecare co-founder , who previously founded , will continue to lead the combined company as chairman and CEO. Founded in 2010, Sharecare provides an easy-to-use digital platform that enables users to consolidate and manage various components of their health in one place.
The company has raised a total of in known venture capital, with its most recently disclosed round of in 2019.
The transaction is expected to close in the second quarter of 2021, at which time, Sharecare will be listed on Nasdaq under the ticker symbol SHCR.
Sharecare joins other health care companies in going public via SPAC. , an online therapy company, said on Jan. 13 it would through a $1.4 billion merger with ., which is backed by .
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