Allianz Invests $59 Million in Digital Health-Care Provider

Germany's Allianz SE (ALV.XE) has invested $59 million in U.S. digital health-care company American Well in an effort to lower cost and improve quality of healthcare in developed and emerging markets, the company said Monday.

Allianz said it will join American Well's board of directors, via its digital investment unit Allianz X, but didn't specify the size of the stake it had taken in the company.

American Well, which is based in Boston, provides a digital platform that connects patients with doctors, specialists and other healthcare providers over secure video, according to a press release from Allianz.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

January 08, 2018 09:39 ET (14:39 GMT)