BY JESSICA DAMASSA, WTF HEALTH
Is Castlight Health suffering a case of ‘first-mover’ curse? One of digital health’s first unicorns, Castlight Health, IPO’d back in 2014 with a valuation of over $ 3 billion dollars (reportedly, 107 times revenue) at a share price of $ 40. Today, the stock trades around $ 1.20, and the company has endured years of frustration from shareholders who’ve complained about customer churn and questioned the company’s business model. A recent change in leadership at the top of the organization has ushered in new CEO Maeve O’Meara, a long-time employee of the trailblazing company, who’s now responsible for blazing a new path toward forward herself. Refreshingly candid about the road ahead, Maeve explains how some new high-touch (but cost-effective) offerings are opening up new markets for the biz and hints at potential partnerships emerging with Big Tech. A must-watch for any digital health startup, investor, or industry analyst who wants longitudinal perspective on health tech’s market resilience and the importance of timing. Maeve, who was a health investor herself before joining Castlight, sums up the challenge of trailblazing tech in healthcare like this: “In healthcare, you always want to be one step ahead and not two steps ahead — you can get burned easily by being two steps ahead.”
Filmed at HLTH 2019 in Las Vegas, October 2019.
Jessica DaMassa is the host of the WTF Health show & stars in Health in 2 Point 00 with Matthew Holt. Get a glimpse of the future of healthcare by meeting the people who are going to change it. Find more WTF Health interviews here or check out www.wtf.health.