January 8, 2018 / 2:05 PM / 2 years ago

Allianz to invest $59 million in digital U.S. healthcare provider

FRANKFURT (Reuters) - The German insurer Allianz said on Monday that it has agreed to invest $59 million in American Well, a digital healthcare provider.

Boston-based American Well connects patients to doctors and other healthcare providers over secure video.

Allianz made the investment through its Allianz X digital investment unit, and the partnership will aim to make the business global, Allianz said.

“Allianz and American Well will develop digital health solutions that build on American Well’s platform and leverage Allianz’s international expertise by combining wearable sensors, remote monitoring, and virtual visits,” Allianz said in a statement.

Allianz declined to disclose the size of the stake in percentage terms.

Reporting by Tom Sims; Editing by Maria Sheahan

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