HealthSpot
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
HealthSpot, founded in 2010 and based in Dublin, Ohio, was a telemedicine kiosk vendor. Its HealthSpot Station kiosks let patients sit down for a synchronous virtual doctor visit — doctors supplied initially by Teladoc — with vital-signs monitoring through self-serve tools inside the kiosk, paid per use. The company partnered with Cleveland Clinic and Kaiser Permanente, but deployed only about 50–54 of its 191 kiosks, mostly at Rite Aid stores. It raised about $44–48M but generated just $1.1M in sales over three years.
02 / HealthSpot FAILURE REASONS
Failure factors
HealthSpot filed liquidation bankruptcy due to insufficient cash flow; company attorney David Whittaker stated the firm did not have enough cash flow to continue operating despite some positive operational events.
company simply did not have enough cash flow to continue to operate.
$1.1M revenue over three years vs $5.2M assets / $23.3M liabilities in filing.
03 / EVENT HISTORY
Events in the structured record
- Operations ended
HealthSpot abruptly ceased operations at end of 2015.
- Liquidation
/ Healthcare Dive: liquidation bankruptcy in Columbus OH; $5.2M assets vs $23.3M liabilities; kiosks shut.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
HealthSpot was founded in 2010 in Dublin, Ohio as a telemedicine kiosk vendor; its HealthSpot Station kiosks offered sit-down virtual doctor visits with self-serve vital-signs monitoring.
- 02
It raised about $44-48M but generated just $1.1M in sales over three years, deploying only 54 of its 191 kiosks.
- 03
HealthSpot ceased operations at the end of 2015 and filed for Chapter 7 liquidation in January 2016 ($5.2M assets, $23.3M liabilities); Rite Aid bought the assets for $1.15M in June 2016.