Investor Relations

NYSE: CSLT
$2.58
(Common Stock)
Change (%): +0.11 (+4.45%)
Volume: 186,540
October 16, 2018
20 minute delay
Castlight Health Announces New Partnerships and Expanding Customer Base
12/18/2017

Health navigation platform grows to 40+ digital health partnerships and more than 250 customers

SAN FRANCISCO, Dec. 18, 2017 /PRNewswire/ -- Today, Castlight Health (NYSE:CSLT) announced significant milestones in the growth of its ecosystem partnerships and customer base.

Castlight Logo (PRNewsfoto/Castlight Health)

Castlight has completed new partnerships with five digital health companies: Livongo, a chronic condition management solution; Big Health, a provider of mental health and sleep solutions; Hinge Health, a musculoskeletal disorder solution; Retrofit, a weight management and disease prevention solution; and Kurbo, a family weight loss and healthy lifestyle solution. This continues a year of rapid expansion for Castlight's partnership ecosystem: the company added 11 new partners in the past 10 months, enabling it to now sell over 40 different vendors pre-integrated with its platform. The partners' solutions are available to all Castlight customers, greatly simplifying their contracting and implementation processes.

"Castlight and Livongo are incredibly complementary. Livongo's chronic condition management offering leverages a unique combination of consumer friendly technology, real-time data driven insights, and a personalized healthcare experience, and we have delivered excellent member satisfaction, clinical outcomes, and cost savings," said Jim Pursley, chief commercial officer of Livongo. "By plugging into Castlight's health navigation platform, we're able to amplify the results and deliver an even better experience making it a real win for our members and shared clients."

Castlight has been rapidly growing its customer base as well. Castlight added 26 new customers in its third quarter of 2017, and now counts more than 250 employers as customers, including 80 of the Fortune 500. The company saw its best gross new bookings quarter in nearly three years – onboarding employers in all major industries such as retail, higher education, manufacturing, banking, and food and beverage. The company has also seen strong revenue growth from its existing customer base: in the past six months, over 40 customers have purchased both or a combination of Castlight and Jiff products.

"We are united around a mission of making it as easy as humanly possible to navigate healthcare," said Derek Newell, president of Castlight Health. "Our momentum underscores the rising appetite for health navigation among employers, our partners, and other healthcare stakeholders, and we're excited to continue helping more employees live happier, healthier, more productive lives as we grow."

Underscoring this acceleration, Castlight was recognized in November as one of the fastest growing technology companies in North America on Deloitte's 2017 Technology Fast 500™ list.

"We are proud of Castlight's growth and progress developing our platform to better help employers regain control over rising health costs and empowering employees to get the most value from their healthcare and benefits," said Castlight Health Senior Vice President of Sales and Growth Mike Leonard. "Our success is built on the hard work of our team, cooperation of our industry-leading partners, and support of our employer customers."

About Castlight Health
Castlight is on a mission to make it as easy as humanly possible to navigate healthcare and live happier, healthier, more productive lives. Our health navigation platform connects with hundreds of health vendors, benefits resources, and plan designs, giving rise to the world's first comprehensive app for all health needs. We guide individuals—based on their unique profile—to the best resources available to them, whether they are healthy, chronically ill, or actively seeking medical care. In doing so, we help companies regain control over rising healthcare costs and get more value from their benefits investments. Castlight revolutionized the healthcare sector with the introduction of data-driven price transparency tools in 2008 and the first consumer-grade wellbeing platform in 2012. Today, Castlight serves as the health navigation platform for millions of people and is a trusted partner to many of the largest employers in the world. We are headquartered in San Francisco, and can be found online at www.castlighthealth.com and on the New York Stock Exchange as CSLT.

Media Contact:
Shannon Magill
press@castlighthealth.com  
415-829-1500

 

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SOURCE Castlight Health

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