GigCapital2, a blank-check firm that raised $150 million in its public offering in June last year, has announced that it’s sealed a merger deal with two telehealth companies, UpHealth and Cloudbreak, to take them public on the New York Stock Exchange as a result. The combined company will bear the name UpHealth and is projected to generate over $190 million in revenue next year.

UpHealth is a digital health platform that facilitates medical services such as care management, telemedicine, and digital pharmacy. It serves a network of 1,800+ hospitals, health clinics, educational institutions, and large employers. Going by public information, UpHealth doesn’t seem to have any major outside backers.

Cloudbreak, similarly, is a telemedicine platform that facilitates video interaction between doctors and patients. It’s backed by $25 million in venture funding from investors including StartUp Health, Kayne Partners, and Columbia Partners Private Capital.

The combination of GigCapital2 and UpHealth and Cloudbreak is expected to deliver an initial market value of $1.35 billion. Upon completion of the merger, the combined company UpHealth will be led by two Co-CEOS by the names of Al Gatmaitan and Ramesh Balakrishnan.

The merger is expected to be completed in the first quarter of next year, subject to customary closing conditions.

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