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.”