Castlight Health

Castlight Health is a Sandy, UT-based healthcare navigation company. It offers comparison tools showing price and quality metrics for tests and procedures offer

Castlight Health
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
Jon Porter, CEO
RevenueDecrease US$143 million (2019)
Increase US$156 million (2018)[1]
Decrease US$ (58) million loss(2016)[2]
Ownerapree health
Websitewww.castlighthealth.com

Castlight Health is a Sandy, UT-based healthcare navigation company. It offers comparison tools showing price and quality metrics for tests and procedures offered by healthcare providers.[3][4]

The Castlight platform is licensed through a business-to-business model. Employees of companies with subscriptions get access to the Castlight platform. Health plan partners, such as Anthem Blue Cross Blue Shield, provides 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]

History

Acquisition by Vera Whole Health, Inc

On the January 5, 2022 it was announced that Castlight would be acquired by Vera Whole Health for US$370 million. Vera launched a tender offer of $2.05 for all outstanding Class A and B shares.[10] The same day, Halper Sadeh LLP, an investor rights law firm, announced an investigation into whether $2.05 per share was a fair price for investors.[11] The outcome of this is not publicly known.

apree health

After integrating their operations, Vera Whole Health and Castlight rebranded as apree health in September 2022. Donald Trigg, former CEO of Cerner Corporation, was appointed as CEO of apree. Vera and Castlight continued operating as distinct brands under this umbrella.[12]

In late 2024, under private equity firm Clayton, Dubilier & Rice, and health insurance company Elevance Health, apree health merged with Millennium Physician Group to form Mosaic Health, with each sub-brand remaining independent and Castlight Health still operating as a product.[13]

References

  1. ^ "Castlight Health, Inc Revenue 2012-2021 | CSLT".
  2. ^ "Form 10-K (2016)". www.sec.gov.
  3. ^ a b 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.
  12. ^ Pifer Parduhn, Rebecca (2022-09-12). "Vera, Castlight rebrand; announce ex-Cerner executive as CEO | Healthcare Dive". Healthcare Dive. Retrieved 2026-05-26.
  13. ^ Minemyer, Paige (2024-08-14). "Elevance Health, PE firm CD&R launch Mosaic Health". Fierce Healthcare. Retrieved 2026-05-26.

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