Castlight started 2022 with a milestone moment.
When I stepped into the CEO role in July of 2019, I shared my belief that Castlight’s unique advantage was the combination of our data and technology. I laid out a strategy to unleash greater value from those core assets—specifically, extending access to our data and technology beyond the individual user to a team of experts, our Care Guides, and leveraging our data and technology to unlock a new buyer, health plans.
We now enter 2022 with more than 80% of our new customer launches including Care Guides and nearly 40% of our new bookings over the last two years coming from health plans. This all comes on top of the best direct-to-employer sales quarter (Q3 2021) that we’ve had in over four years! I’m so proud of the team’s execution against our plan.
During my first earnings call as CEO, I shared my belief that our data and technology would become critical at the point of care. Specifically, I stated, “The shift to value-based care, the introduction of alternative delivery models, and payer-provider consolidation has created demand for healthcare data infrastructure that provides information on the consumer’s health and enables steerage to higher quality, lower-cost providers.” I believed in the demand for data and technology at the point of care two-and-a-half years ago, and I believe it today.
Thus, I am thrilled Castlight will be combining with Vera Whole Health, a leading value-based advanced primary care provider, to create a first-of-its-kind company that will transform how patients experience care, how providers deliver care, and how employers and plans pay for care.
Like Castlight, Vera is a pioneer. A pioneer in advanced primary care, Vera delivers care through purpose-built clinics and strategic partnerships with local providers to improve the social, mental, and physical health of their patients. This combination will be financed by Clayton, Dubilier & Rice (CD&R), a truly innovative investor in healthcare who shares our aspiration to bring value-based care to the commercial market.
This combination represents a natural evolution of Castlight’s partnership with Anthem. Upon completion of this combination, Anthem intends to invest in the combined company and their decision is a huge testament to the strength of the partnership and the value of the product we have built for Anthem. I am thrilled by the expansion of this important relationship!
Castlight is more of a cause than a company for many of us. I am thrilled that together we are opening the door to better healthcare for so many Americans. I have often talked about the privilege of purpose, and the team’s talent and tenacity has brought us to this moment. This is a huge milestone for Castlight, but our journey is really just beginning.