Google Cloud will invest $100 million into telehealth provider Amwell, as part of a multi-year partnership to deliver telehealth solutions.
Google Cloud’s investment will be a concurrent private placement at a purchase price that will be the same as the price to the public in Amwell’s IPO, the companies said in a statement.
According to the terms of the partnership, Google Cloud will be using Amwell as its preferred global telehealth platform partner. Amwell, in turn, will be using Google Cloud as its preferred global cloud platform partner.
Both companies will also engage in go-to-market strategy alignment and execution to expand access to virtual care delivery into their mutual customer accounts.
Amwell was advised on the transaction by Wachtell, Lipton, Rosen & Katz and Davis Polk & Wardwell.
[Image courtesy: Amwell]