Castlight Health, Inc.
TypePublic
NYSE: CSLT (Class B)
Russell 2000 Component
Founded2008
FateAcquired by Vera Whole Health
Headquarters
United States Edit this on Wikidata
Key people
Maeve O'Meara, CEO

Siobhan Nolan Mangini, President & Chief Financial Officer

Giovanni Colella, MD Former CEO and Founder. John Doyle, Former CEO
RevenueDecrease US$143 million (2019)
Increase US$156 million (2018)[1]
Decrease US$ (58) million loss(2016)[2]
Websitewww.castlighthealth.com

Castlight Health was a San Francisco–based healthcare navigation company. It offered comparison tools showing price and quality metrics for tests and procedures offered by healthcare providers.[3][4]

The Castlight platform was licensed through a business-to-business-based model. Employees of companies that had purchased subscriptions got access to the Castlight platform. Health plan partners, such as Anthem Blue Cross Blue Shield, provided commercial members with access to Castlight's tools as well.[5] In 2012 the company secured $100 million in investment funds.[3] In 2014 the company had its initial public offering,[6][7] valued at $2 billion.[8] The company claimed to have grown to work with "over 260 customers covering 10 million lives" on the platform.[9]

Acquisition by Vera Whole Health, Inc

On the 5th of January 2022 it was announced that Castlight would be acquired by Vera Whole Health for $370 million USD. Vera launched a tender offer of $2.05 for all outstanding Class A and B shares.[10]

The same day of the announcement, Halper Sadeh LLP, an investor rights law firm, announced an investigation into whenever $2.05 per share was a fair price for investors.[11] As of November 7th 2023, it is unclear what that the fate of this investigation is.

References

  1. ↑ "Castlight Health, Inc Revenue 2012-2021 | CSLT".
  2. ↑ "Form 10-K (2016)". www.sec.gov.
  3. 1 2 Empson, Rip (2012-05-02). "Castlight Lands A Whopping $100M D Round To Bring Transparency To Healthcare Costs". TechCrunch. Retrieved 2023-03-24.
  4. ↑ "New health data outs doctors whose patients die more often". VentureBeat. 2013-07-05. Retrieved 2023-03-24.
  5. ↑ "Anthem Blue Cross and Blue Shield and Castlight Health Announce Strategic Collaboration". press release. November 4, 2015. Retrieved November 4, 2015.
  6. ↑ "U.S. IPO Recap: Castlight Health's 149% Pop Shows Healthy Tech Demand". Seeking Alpha. March 18, 2014. Retrieved 20 March 2014.
  7. ↑ Parmar, Arundhati (2019-09-12). "From casting light to total eclipse? Can a new CEO turn around Castlight Health?". MedCity News. Retrieved 2020-05-27.
  8. ↑ "CSLT Historical Prices | Castlight Health, Inc. Class B Stock - Yahoo Finance".
  9. ↑ "About Castlight".
  10. ↑ "Castlight Health and Vera Whole Health to Combine to Pioneer and Scale Value-Based Care in Commercial Market". www.prnewswire.com. 5 January 2022. Retrieved 2023-11-07.
  11. ↑ "Castlight (CSLT) Stock Investigation: Halper Sadeh LLP Announces Investigation Into Whether the Sale of Castlight Health, Inc. Is Fair to Shareholders; Investors Are Encouraged to Contact the Firm – CSLT". www.businesswire.com. 2022-01-05. Retrieved 2023-11-07.
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