Digital Health and Telehealth Bi-Weekly Industry Events & M&A Update — September 14–28, 2026

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BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

HEALTH CARE › HEALTH CARE EQUIPMENT AND SERVICES › DIGITAL HEALTH AND TELEHEALTH

Cleared Products Earn a Bid While the Cohort Gives Ground

This update covers what moved, what companies announced, and what changed in the transaction record across Digital Health and Telehealth from September 14–28, 2026.

September 14–28, 2026

Prepared by NeuraCap AI · Confidential

Market data through 2026-09-28 · events and transactions from the two-week period 2026-09-14 → 2026-09-28

Digital Health and Telehealth Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice

Sources & methodology

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The analyst’s walkthrough of the deck, page by page.

1. 01
   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE

   HEALTH CARE › HEALTH CARE EQUIPMENT AND SERVICES › DIGITAL HEALTH AND TELEHEALTH

   Cover slide identifying the report as a Digital Health and Telehealth bi-weekly industry events and M&A update for September 14–28, 2026.

   This bi-weekly update tracks Digital Health and Telehealth across September 14–28, 2026 — what moved, who moved and most likely why, what transacted, and what it means. We built it to give you a fast, evidence-based read before the next call.

   Everything on this page

   BI-WEEKLY INDUSTRY EVENTS & M&A UPDATE HEALTH CARE › HEALTH CARE EQUIPMENT AND SERVICES › DIGITAL HEALTH AND TELEHEALTH Cleared Products Earn a Bid While the Cohort Gives Ground This update covers what moved, what companies announced, and what changed in the transaction record across Digital Health and Telehealth from September 14–28, 2026. September 14–28, 2026 Prepared by NeuraCap AI · Confidential Market data through 2026-09-28 · events and transactions from the two-week period 2026-09-14 → 2026-09-28 Digital Health and Telehealth Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 1

2. 02
   THE BI-WEEKLY BOTTOM LINE

   Evidence Moved Value This Period; Announcements on Their Own Did Not

   Shows that 12 of 14 covered names fell over the period, with the median move at -3.9% against a +0.8% S&P 500 return.

   Over this two-week window, 12 of the 14 names we cover fell, and the median move came in at -3.9% while the S&P 500 returned +0.8%. That gap tells us the market drew a sharp line between operating proof and announcement volume. The names that beat the median did so on regulatory and integration evidence, not on guidance alone. So what: in this sector right now, evidence — not headlines — is what earns the bid.

   Everything on this page

   THE BI-WEEKLY BOTTOM LINE Evidence Moved Value This Period; Announcements on Their Own Did Not The two-week period in one page · 14 covered names, close-to-close · September 14–28, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Driver attributions use calibrated language and are NeuraCap reads of the recorded evidence. Digital Health and Telehealth Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 2 1 The Cohort Gave Ground While the Broad Market Held 12 of 14 covered names fell; the median move was -3.9%. The S&P 500 returned +0.8% over the same window. 2 A Cleared Device Set the Period's High Beta Bionics, Inc. (BBNX) rose +22.7%, with its biggest single day at +15.3% on Sep 16, following the Sep 14 announcement of FDA clearance for its Mint patch pump. 3 Distribution Reach Did Not Hold the Line on Its Own LifeMD, Inc. (LFMD) fell -14.8% in the window even after announcing an exclusive carrier collaboration that gives eligible customers a membership valued at $228 a year. Enrolment and retention, not eligibility, carry that value. 4 Companies Chose Partnerships over Transactions No material sector transactions were announced during the period. The visible activity ran through product clearance, an integration partnership and a new care site. +22.7% Best mover — Beta Bionics, Inc. (BBNX) worst: EVMN -19.6% · 2 up / 12 down of 14 covered -3.9% Sector median two-week return vs S&P 500 +0.8% 3 Company filings in the window 8-K events read for driver attribution

3. 03
   PUBLIC MARKET MOVERS

   Regulatory Clearance Paid; Guidance and Pipeline Updates Did Not

   Compares public market movers against a materiality bar, led by Beta Bionics' +22.7% move and LifeMD's -14.8% decline.

   Beta Bionics (BBNX) was the period's standout, up +22.7% with a +15.3% single-day move on September 16 following its FDA clearance announcement. LifeMD (LFMD), by contrast, fell -14.8% even after announcing an exclusive carrier collaboration. Against the sector-relative materiality bar, the pattern is consistent: cleared, verifiable milestones moved price, while distribution announcements without enrollment proof did not. So what: when we screen this cohort, we now weight cleared regulatory events well above pipeline or distribution headlines.

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   PUBLIC MARKET MOVERS Regulatory Clearance Paid; Guidance and Pipeline Updates Did Not Bi-Weekly moves, close-to-close · September 14–28, 2026 · sector median -3.9% · S&P 500 +0.8% · materiality bar ±7.5% (sector-relative) Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Attribution links each move only to filings and headlines recorded in the window; where no driver is recorded, the page says so. Calibrated language throughout — NeuraCap reads, not asserted causation. Digital Health and Telehealth Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 3 Bi-Weekly return per company · teal above zero, amber below · sector median -3.9% Beta Bionics, Inc. (BBNX) +22.7% Shares moved following the Sep 14 FDA clearance of the Mint patch pump and an announced partnership pairing year-long continuous glucose monitoring with the iLet Bionic Pancreas. Securities class action filings landed in the same window. A Premium-tier name shows the market pays for cleared product with recurring service attached. COMPANY-SPECIFIC Evommune, Inc. (EVMN) -19.6% Shares moved following the Sep 23 announcement of a late-breaker Phase 2a presentation for EVO301 in atopic dermatitis; the biggest single day, -8.6%, fell on that date, after a Sep 15 filing furnishing an updated corporate presentation. Clinical read-outs reprice adjacent models faster than any contract news in this set. COMPANY-SPECIFIC LifeMD, Inc. (LFMD) -14.8% The available evidence suggests the drag was the downward revenue and EBITDA guidance revision and sequential subscriber decline flagged in Sep 16 coverage, which landed days after the announced carrier collaboration. Reach converts to value through enrolment and retention, not through announcement volume. COMPANY-SPECIFIC Astrana Health, Inc. (ASTH) -11.3% The move appears to reflect the updated investor presentation furnished Sep 15, which carried FY2026 guidance and Q2 2026 revenue of $938.2 million; the biggest day, -9.0%, came Sep 17, with law-firm investigations announced Sep 22. Discount-tier care delivery names are being marked on guidance credibility, not headline revenue. COMPANY-SPECIFIC

4. 04
   MAJOR NEWS & INDUSTRY CATALYSTS

   What Companies Actually Did: Clearance, Distribution and Footprint

   Summarizes the period's highest-impact events — regulatory clearance, a distribution partnership and a new care site — each linked to its underlying source.

   This period's catalysts ran through concrete operating steps: a product clearance, an integration partnership and a new care-delivery footprint. Each item on this page links back to the filing or article it came from, so the read stays checkable line by line. We treat the 'why it matters' language as our own calibrated read, not as fact beyond what is filed or published. So what: the events that mattered were the ones with a verifiable filing behind them, not the ones with the loudest headline.

   Everything on this page

   MAJOR NEWS & INDUSTRY CATALYSTS What Companies Actually Did: Clearance, Distribution and Footprint The two-week period's highest-impact events · titles link to the underlying filing or article · September 14–28, 2026 Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. "Why it matters" lines are NeuraCap reads; each event links to its source. Sources are admitted in a fixed reliability order (SEC filings, press releases, established outlets); video and social platforms are never used. Digital Health and Telehealth Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 4 Sep 15 · 8-K · SEC EDGAR Astrana Health set out FY2026 guidance and Q2 results in an updated investor presentation The filing paired FY2026 guidance of $3.8-$4.1 billion Adjusted EBITDA and $255-$280 million revenue with Q2 2026 revenue of $938.2 million. Guidance detail is the price of admission at the discount end of this sector. Sep 15 · 8-K · SEC EDGAR LifeMD struck an exclusive carrier collaboration giving eligible customers a free membership The arrangement opens a large eligible population ahead of a nationwide expansion in January 2027, at a membership value of $228 a year. Whether it counts shows up in activation and cohort retention, not in eligibility. Eligible lives are not enrolled lives; the conversion step is where the value sits. Sep 14 · NEWS · GlobeNewsWire Beta Bionics agreed a partnership integrating year-long glucose monitoring with its iLet system Attaching continuous monitoring to automated insulin delivery widens the recurring service revenue around the device and lifts revenue per user. Device plus recurring service is the attachment model device acquirers underwrite. Sep 14 · NEWS · GlobeNewsWire Beta Bionics won FDA clearance for its Mint patch pump and unveiled a new insulin dosing algorithm Clearance turns a pipeline claim into a sellable product and sets the reimbursement and coding path. It is the evidence the Premium tier of this sector is priced on. Cleared product is the cleanest proof a platform can put in front of payers. Sep 14 · NEWS · Business Wire Concentra opened a new Florida medical center, its first location in Volusia County Site-of-care footprint drives the economics of clinician-heavy models through utilisation and panel size. It extends network reach in a model buyers price on EBITDA. Footprint expansion still sets the pace at the services end of the sector. Sep 14 · NEWS · Business Wire PACS Group took a presenting slot at a September healthcare services and technology conference Putting the operating story in front of the services and technology investor audience signals a Core-tier operator competing for the same attention as platform names. Investor attention in this sector is contested across models, not just within them.

5. 05
   M&A & STRATEGIC ACTIVITY

   Operators Chose Partnerships While the Precedent Record Held Steady

   Shows that operators favored partnerships over transactions this period, with the precedent transaction record unchanged.

   No material sector transactions were announced in this window; the visible activity ran instead through a product clearance, an integration partnership and a new care site. The precedent transaction record we track held steady rather than being reset by fresh deal activity. That steadiness is itself informative: it tells us the market is still pricing off the same comparison set it had two weeks ago. So what: valuation conversations right now should lean on the existing precedent record, not on any new deal signal.

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   M&A & STRATEGIC ACTIVITY Operators Chose Partnerships While the Precedent Record Held Steady September 14–28, 2026 · precedent transactions: 40 recorded deals Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. Deal multiples are LTM at announcement where disclosed; "why the deal happened" is a NeuraCap read of the recorded evidence. No old transactions are re-presented as news. Digital Health and Telehealth Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 5 No Material Transactions Announced No material sector transactions were announced during the period. Against 40 trailing precedent transactions, this period's activity ran through product clearance, an integration partnership and a distribution collaboration instead. A quiet two-week period is information: buyer appetite, financing conditions and seller expectations all read through a period with no new deals. The precedent transactions alongside still frame what buyers have paid. 40 Recorded precedent transactions the reference set buyers and sellers price against

6. 06
   WHAT IT MEANS

   What the Period Changes for Operators, Buyers and Advisors

   Translates the period's evidence into observations for operators, acquirers and advisors.

   For operators, the period rewarded converting eligible populations into enrolled, retained relationships — eligibility alone did not move price. For acquirers, the comparison points that shifted were operating ones: a cleared device with a monitoring partnership, a carrier distribution deal and a care-delivery guidance update, while the precedent transaction record stayed flat. For advisors, the message is to lead conversations with proof — clearance, partnership and guidance detail — rather than announcement volume. So what: across every seat at the table, the same evidence hierarchy applied this period.

   Everything on this page

   WHAT IT MEANS What the Period Changes for Operators, Buyers and Advisors The two-week period translated for the people who act on it · NeuraCap view · observations, not recommendations Source: NeuraCap analytics platform (universe, prices, filings, transaction records); publisher-sourced news where linked; market data through 2026-09-28. This page is analytical interpretation drawn from the two-week period's recorded evidence. It is not investment advice. Digital Health and Telehealth Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice Sources & methodology 6 Sector study 2026-09-28 EV / Revenue (CY2027E) median 0.8x 15 companies in the study 3 valuation tiers Standing thesis: Digital Health and Telehealth Prices Platforms, Care Delivery and Adjacent Models Differently FOR OWNERS & OPERATORS Activation and Retention Decide Whose Contracts Count Companies in the space that turned eligible populations into enrolled lives and held engagement were the ones the period rewarded. FOR ACQUIRERS The Reference Points That Moved Were Operating Ones The precedent transaction record was unchanged over the window, so the comparisons that shifted came from operations: a cleared device with a monitoring partnership attached, a carrier distribution collaboration, and a care delivery guidance update. FOR ADVISORS Lead with Proof, Not with Announcement Volume The period's theme is that evidence carried value: FDA clearance, integration partnerships and guidance detail.

7. 07
   SOURCES & METHODOLOGY

   Sources, Methodology and Important Notice

   Explains the sources and methodology behind the update, including how figures are sourced and market data timing.

   Every figure in this update links back to the record it was taken from, and the publishers and filings we drew on for the period are listed on this page. Market data runs through September 28, 2026, and driver attributions use calibrated language reflecting our own read of the recorded evidence. So what: you can trace every claim in this deck back to its source before you act on it.

   Everything on this page

   SOURCES & METHODOLOGY Sources, Methodology and Important Notice How this bi-weekly update is built and what each kind of statement rests on · September 14–28, 2026 · market data through 2026-09-28 Every figure in this update links to the record it was taken from; the publishers and filings drawn on for the period are listed above. Digital Health and Telehealth Bi-Weekly Update | September 14–28, 2026 | Confidential | Not investment advice 7 OBSERVED DATA Bi-Weekly stock moves are computed close-to-close over the stated window from the platform’s price series. Deal records, values and multiples come from the platform’s transaction record (SEC 8-K extractions) exactly as recorded; each figure links to its citation. Treasury rates come from the platform’s Treasury series and are shown only when the 10-year moved at least ten basis points over the window (it did not in this window, so no rate figures appear). UNIVERSE QUALITY The update universe is the platform’s approved company set for this sector, subject to a $100M market-cap floor so small, loosely related names cannot dominate the statistics. 2 names below the floor were excluded from movers and statistics for this window. EVENTS & NEWS Company events are in-window 8-K filings; news items are publisher-sourced headlines fetched for the window (and any externally supplied items, marked as such). Operational and strategic developments (deals, partnerships, launches, expansion, guidance, leadership, regulatory outcomes) are shown first; capital-return mechanics and conference appearances are limited to one each. Every event links to its source. The deck never asserts an event that has no linked record. SOURCE HIERARCHY News is admitted in a fixed order of reliability: SEC filings first, then company press releases and investor-relations communications, then transaction documents, then established outlets (Reuters, CNBC, The Wall Street Journal, Barron’s and peers). Video and social platforms — including YouTube — are never used as sources. DRIVER ATTRIBUTION A stock move is linked to an event only when the event falls inside the window, and only in calibrated language ("the move appears to reflect…", "shares moved following…"). Where no driver is recorded, the page says so and compares the move to the sector median instead. ANALYTICAL INTERPRETATION "Why it matters", "why the deal happened" and the what-it-means page are NeuraCap analytical views drawn from the recorded evidence, and are labeled as such. INHERITED CONTEXT The standing sector view (thesis, valuation lens, sector median and tiering) is inherited from the NeuraCap sector study run_20260929T171349Z_546_prod (market data as of 2026-09-28) — distilled, never re-derived. That report’s own sources page governs its content; this update reads the period against it. IMPORTANT NOTICE This report is informational only. It is not investment advice, not a recommendation to buy or sell any security, and not an offer of any kind. Readers should perform their own diligence before acting on anything described here. Linked sources this two-week period: sec.gov · globenewswire.com · businesswire.com · newsfilecorp.com · prnewswire.com

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