Artera visits Wall Street, hints at IPO
By Jorge Mercado
Senior Staff Writer
As Santa Barbara-based Artera fuels speculation that it’s planning to go public, leading national business magazines are highlighting the company’s growth.
The software provider for the digital health industry had not filed notice of a plan to go public with the U.S. Securities and Exchange Commission as of Nov. 16. Nor does the company appear on Nasdaq’s calendar to go public.
But Artera’s CEO, Guillaume de Zwirek, seems to be encouraging the speculation: he recently called attention on LinkedIn to the Nasdaq projecting Artera’s image on the side of a New York City skyscraper.
“Keep that bell warm,” he wrote in his LinkedIn post.
On the day a company goes public on a stock exchange, its executives traditionally appear at the exchange to personally ring the bell that opens the day’s trading.
De Zwirek, asked by the Business Times if he plans to take Artera public, replied, “We are not oriented to an IPO and will pursue whatever company structure — private, public, etc. — is most appropriate to realize this vision.”
Artera is also featured on the annual “Technology Fast 500” list put out by consulting firm Deloitte — the only Central Coast firm to be included, and Artera’s second consecutive year on the list. At the same time, Inc. Magazine’s list of 5000 of fastest-growing private companies includes Artera for a third consecutive year.
The Deloitte list, released Nov. 16, is compiled from applications submitted from privately held companies and database research on publicly traded companies. Winners are selected based on fiscal-year growth over a three-year period.
Companies must have base-year operating revenues of at least $50,000, current year operating revenues of at least $5 million and be headquartered in North America, Deloitte explains.
According to the list, Artera has generated total revenue growth of 848% over the past three years, placing it at No. 174 on the list.
De Zwirek said in an interview with the Business Times that his company is well-positioned for more than 100% growth by the end of 2022, as well.
Artera has been closing the digital divide between doctors and its patients since its founding by de Zwirek in 2015.
Artera provides a two-way delivery system between the patient and the doctor or hospital during and after checkups. It supports text messaging, email and web chat intended to facilitate patients obtaining answers to health care questions more quickly than older methods.
Since the COVID-19 pandemic, patients and health care providers have come to rely on telehealth as often standard and central to patient care.
“Our vision is to create connection across the entire healthcare ecosystem,” de Zwirek said, “not just during one point in time, or one piece of the journey.”
He said the aim is also to improve hospital staff efficiency and profitability for a wide range of health care organizations.
That increasingly held view has given Artera an opening to fuel its rapid growth.
That growth has also been enabled by the company’s corporate culture which has been noted as embracing change more than most.
The company formerly known as Well Health rebranded to Artera on Oct. 18 in an attempt to burnish an image of jumping in the flow.
De Zwirek said Artera is derived from the word artery, a body’s conduit for delivering oxygen throughout the body.
“The heart has always been an important symbol to us.,” he said. “The heart is the primary organ of circulation — pumping blood throughout the body, controlling your heart rate, rhythm, blood flow and pressure, and sending nutrients to your other organs. It’s vital for function and connection — just like the Artera platform,” he said.