US Firm Elligint Health Acquires Israeli Digital Health Startup Laguna
Translated & summarized from Calcalist by baba
American company Elligint Health has acquired Israeli digital health startup Laguna Health for an estimated tens of millions of dollars. Laguna Health, co-founded by Yoni Stein and Yael Peled-Adam, developed a conversational AI platform to streamline care management for insurance companies. The acquisition will see Laguna operate as a subsidiary in Israel, with Elligint Health planning to expand the Tel Aviv development center and double its workforce. Yoni Stein will continue as CEO of Laguna.
The story in 5 lines · by baba
- Elligint Health acquired Israeli startup Laguna Health for tens of millions of dollars.
- Laguna Health's AI platform helps insurance care teams by automating documentation.
- The acquisition aims to expand Laguna's technology reach through Elligint Health's network.
- Elligint Health plans to double Laguna's workforce and expand its Tel Aviv R&D center.
- Laguna co-founder Yoni Stein will continue as CEO of the Israeli subsidiary.
American company Elligint Health, which develops care and utilization management systems for U.S. health insurers, has acquired Israeli digital health startup Laguna Health. The deal's value was not disclosed but is estimated in the tens of millions of dollars. Laguna Health, founded in 2020 by Yoni Stein and Yael Peled-Adam, has raised approximately $30 million since its inception.
Laguna Health developed a conversational AI platform designed to assist care management teams at insurance companies. The system automates the documentation of conversations with policyholders, allowing staff, primarily nurses and social workers, to focus more on patient interaction. The platform also performs quality control, extracts real-time insights, and verifies adherence to clinical and operational standards.
Laguna Health, based in Tel Aviv and employing about 20 people, was founded by Stein, who previously co-founded RPX Corp's insurance arm and an investment fund merged into Fortress Investment Group, and Peled-Adam, a co-founder of digital health startup Vim with prior experience at Bond, Microsoft, and Amazon. The company had previously raised $30 million from investors including Pitango, LionBird, and Arkin.
Following the acquisition, Laguna Health will continue to operate in Israel as a wholly-owned subsidiary of Elligint Health and will serve as its AI solutions development arm. Elligint Health plans to invest in its Israeli operations, double the workforce, and hire for key technological roles, including AI developers and engineers, as well as sales personnel for the U.S. market. Yoni Stein will remain CEO and lead the company's operations in Israel.
Elligint Health's systems currently manage care for over 13 million policyholders in the U.S. The integration of Laguna's products is expected to enhance Elligint Health's offerings to its clients. Stein stated that the acquisition supports their vision to improve medical service quality for millions of patients globally, enabling Laguna's technology to reach more care teams through Elligint Health's extensive network. Chris Caramanico, CEO of Elligint Health, expressed enthusiasm for the acquisition and Israel's role as a hub for technological innovation, noting that Laguna's AI solutions align well with their value proposition and that they intend to expand the Tel Aviv development center.