Outcome Health
Healthtech/advertisingUSA
New to Unitard
🤝 Acquired
Peak $5.5 BillionToday
~-99%
from peak
- 🦄Became a unicorn2017
- 📈Peak valuation$5.5 Billion ’17
- 💔Became a UnitardOct 2017
- 💸Last valuation~$55M
Current status
Fraud exposed; merged into PatientPoint (2021)
The rise & fall
6 moments · 2006–2023The key moments.
2006
2006
Founded in Chicago as ContextMedia
Rishi Shah and Shradha Agarwal put health-content screens in doctors' waiting rooms.
Wikipedia
2017
2017
The peak: a $5.5B round$5.5B
Goldman Sachs, Alphabet and the Pritzkers invest at a $5.5B valuation — the year it rebrands as Outcome Health.
WSJ
Oct 2017
Oct 2017
Fraud exposed — falls out of the club
A Wall Street Journal investigation reveals advertisers were misled with inflated reach data; investors sue and the unicorn valuation evaporates.
WSJ
2019
2019
Founders charged
Federal prosecutors charge the founders over a roughly $1B scheme that inflated the company's reach to advertisers and lenders.
DOJ
2021
2021
Merged into rival PatientPoint
The remnant is folded into its competitor; the combined company carries the PatientPoint name.
Wikipedia
Apr 2023
Apr 2023
Founders convicted of fraud
A federal jury convicts the co-founders in the ~$1B scheme.
DOJ
How it happened
Outcome Health put pharma-advertising screens in doctors' offices and raised at a $5.5B valuation in 2017 from Goldman Sachs, Alphabet and the Pritzkers. Investigators found it had defrauded advertisers and lenders of roughly $1B by inflating its reach. Its founders were convicted, and the remnant was folded into rival PatientPoint in 2021.
Source: DOJ; founders convicted of ~$1B fraud
Founders
Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.