American Well Corporation (NYSE:AMWL) signed a definitive agreement to acquire Conversa Health, Inc. on July 27, 2021. In a related transaction, American Well Corporation signed a definitive agreement to acquire SilverCloud Health on July 28, 2021. Aggregate purchase price for SilverCloud Health and Conversa Health is approximately $320 million. The purchase price will be paid 50% in cash and 50% in shares of American Well Corporation wherein approximately 12.3 million shares will be issued. American Well Corporation also agreed to issue additional shares for up to $70 million if certain operational and performance targets are met by each of Conversa and SilverCloud. The transactions, which are subject to customary closing conditions, are expected to close in the third quarter of 2021. Barclays acted as financial advisor to American Well Corporation. Ropes & Gray LLP acted as legal advisor to American Well Corporation. Kris Withrow, Sam Angus, Marshall Mort, Shawn Lampron, Nicholas Frey, Stefano Quintini, Sandra Weustink, Jim Koenig and Brent Hoard of Fenwick & West LLP acted as legal advisor to Conversa Health, Inc. American Well Corporation (NYSE:AMWL) completed the acquisition of Conversa Health, Inc. for approximately $130 million on August 9, 2021. Under the terms, American Well paid $51.3 million in cash, net of cash acquired of $9.7 million, issued 4.7 million shares of American Well's Class A common stock and an earn-out of up to $30 million contingent upon Conversa achieving certain integration thresholds in the first quarter of 2022, and certain revenue thresholds for the year ending December 31, 2022.