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Harris Williams & Co. Advises RSA Medical on its Pending Sale to Xerox

Richmond, Virginia, August 24, 2015 – Harris Williams & Co., a preeminent middle market investment bank focused on the advisory needs of clients worldwide, announces the pending sale of RSA Medical (RSA), a leading outsourced provider of technology-based, health risk management services to payors, to Xerox (NYSE: XRX). Harris Williams & Co. is serving as the exclusive advisor to RSA, a portfolio company of Beecken Petty O’Keefe & Company (BPOC). The transaction, which is subject to customary closing conditions, is being led byCheairs Porter, Whit Knier and Tyler Bradshaw of Harris Williams & Co.’s Healthcare & Life Sciences (HCLS) Group and Sam Hendler of the firm’s Technology, Media & Telecom (TMT) Group.

“Management and BPOC have done a tremendous job navigating the transition from an underwriting environment to a guaranteed-issue environment under the Affordable Care Act (ACA), positioning RSA to continue to play a critical role in the post-healthcare reform operating environment,” said Cheairs Porter, a managing director at Harris Williams & Co. “The combination of RSA with Xerox will further the company’s mission of enhancing payors’ ability to deliver superior care to their members and improving members’ interactions with their plans.”

Sam Hendler, a managing director at Harris Williams & Co., added, “RSA’s ability to combine proprietary rules-driven software tools with sophisticated data analysis has been instrumental in helping health insurance carriers adapt to the post-ACA world.”

“It has been a pleasure working with Rocco Salviola (CEO) and his team at RSA, who have played an important role in helping insurance payors address critical care management and member engagement issues throughout the company’s history,” said Whit Knier, a director at Harris Williams & Co.

RSA is a leading provider of health assessment and risk management services for members interacting with health and life insurance companies. RSA serves several of the nation’s top health plans with its proprietary MedGine® analytics platform and unique consumer engagement capabilities. The platform enables delivery of individual member assessments drawn from health and consumer history in combination with care utilization. Additionally, one-on-one patient outreach and education by a medical professional enhances the payor’s ability to assist its members in maintaining wellness and managing medical conditions before they escalate and lead to increasing medical costs. RSA is headquartered in Naperville, Illinois.

BPOC is a Chicago-based private equity management firm that was founded in 1996 to invest in middle market buy-out transactions, recapitalizations and growth platforms in the healthcare industry. The firm evaluates, structures and manages investments on behalf of institutional and individual investors.

Xerox is a global business services, technology and document management company helping organizations transform the way they manage their business processes and information. Headquartered in Norwalk, Connecticut, Xerox has more than 140,000 employees and does business in more than 180 countries, providing business services, printing equipment and software for commercial and government organizations.

Harris Williams & Co. (www.harriswilliams.com), a member of The PNC Financial Services Group, Inc. (NYSE:PNC), is a preeminent middle market investment bank focused on the advisory needs of clients worldwide.  The firm has deep industry knowledge, global transaction expertise and an unwavering commitment to excellence. Harris Williams & Co. provides sell-side and acquisition advisory, restructuring advisory, board advisory, private placements and capital markets advisory services.

Harris Williams & Co.’s HCLS Group has experience across a broad range of sectors, including healthcare IT; managed care and cost containment services; alternate site care; medical devices, products and distribution; outsourced clinical and practice management services; and outsourced pharma services. For more information on the HCLS Group and other recent transactions, visit the HCLS Group’s section of the Harris Williams & Co. website.

Harris Williams & Co.’s TMT Group has experience across a broad range of sectors, including software, internet and digital media and infrastructure solutions. Within these segments, the TMT Group focuses on targeted subsectors including application software, data and informatics, eCommerce, education technology, energy technology, financial technology, infrastructure software, IT and tech-enabled services, mobile, online advertising and marketing services, public sector software and telecom, data center and networking solutions. For more information on the firm’s TMT Group and other recent transactions, visit the TMT Group’s section of the Harris Williams & Co. website.

Investment banking services are provided by Harris Williams LLC, a registered broker-dealer and member of FINRA and SIPC, and Harris Williams & Co. Ltd, which is authorized and regulated by the Financial Conduct Authority.  Harris Williams & Co. is a trade name under which Harris Williams LLC and Harris Williams & Co. Ltd conduct business.

August 24, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

ZocDoc Raises $130 Million in New Funding Round

Leading Digital Health Platform Will Focus Funds on Accelerating Growth, Expanding Product

NEW YORK, August 20, 2015 ZocDoc, the tech company at the beginning of a better healthcare experience, today announced $130 million of funding and a current valuation of $1.8 billion, making it one of New York City’s most valuable private tech companies. The round was led by Baillie Gifford and Atomico, and included participation from existing investor Founders Fund. ZocDoc was among the first to break open the digital health sector, which has attracted $2.1 billion in private funding so far this year.

This new round of funding will support ZocDoc’s continued growth and innovation. The company will more heavily invest in developing products that sit on top of ZocDoc’s core marketplace and extend beyond its hallmark scheduling capability. These products will remain focused on solving patient problems and facilitating even more patient interactions within the healthcare ecosystem.

“Since our inception, we’ve been working to lead the healthcare experience into the digital age, and this funding will help us continue to deliver on our mission to give power to the patient,” said ZocDoc founder and CEO Cyrus Massoumi. “The fragmented healthcare space has produced too many broken systems that get in the way of good care. We aim to be the digital center of care that delivers the simple, seamless healthcare experience patients expect and deserve.”

Today, ZocDoc is live nationwide with a footprint that covers more than 60 percent of the U.S. population. Each month, millions of patients turn to ZocDoc to find in-network neighborhood doctors, instantly book appointments online, see what other real patients have to say, get reminders for upcoming appointments and preventive check-ups, fill out paperwork online, and more. Patients can book more than 1,800 different types of procedures via ZocDoc, across more than 50 different medical specialties.

Alongside this strong, sustained patient growth, healthcare providers have continued to rapidly adopt ZocDoc’s service. ZocDoc works with independent practices throughout the country and has established new partnerships and deepened existing relationships with the country’s most forward-thinking health systems. This business is a major lever for ZocDoc’s growth; the company is on track to more than double its health system client roster again in 2015.

“We are very excited by the potential for necessary and dramatic improvement in global healthcare,” said James Anderson, Partner, Baillie Gifford. “ZocDoc is an early and inspiring example of the role digital health services can play in this potential revolution. We admire what ZocDoc has already achieved for patients and partners. We look forward still more to seeing where its motivated, talented and visionary team can take the company in the decades ahead.”

Based in New York City with offices in Arizona and India, ZocDoc has grown from three founders to more than 600 team members.

About ZocDoc
ZocDoc is the tech company at the beginning of a better healthcare experience. Each month, millions of patients use ZocDoc to find in-network neighborhood doctors, instantly book appointments online, see what other real patients have to say, get reminders for upcoming appointments and preventive check-ups, fill out their paperwork online, and more. With a mission to give power to the patient, ZocDoc’s online marketplace delivers the accessible, seamless, and simple experience patients expect and deserve. ZocDoc is free for patients and available across the United States via ZocDoc.com or the ZocDoc app for iPhone and Android.

August 20, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

WebPT, EMR for Rehab Therapists, Makes Second Acquisition

WebPT, the leading web-based electronic medical record (EMR) solution for rehab therapists, today announced its acquisition of Therabill, a web-based practice management software for physical and occupational therapists, speech-language pathologists and behavioral health specialists.

“At WebPT, our overall goal is to create the most innovative, comprehensive rehab therapy solution on the market, and this acquisition is a huge step toward fulfilling that vision,” said WebPT CEO Paul Winandy. “Therabill and WebPT serve similar audiences, have similar company histories, and uphold similar commitments to providing exceptional customer service. So, it made a lot of sense for us to combine our companies and present our customers with a true end-to-end business solution.”

Joe Dundas, the president and co-founder of Therabill, said the decision to bring the two companies together was not a hasty one. “It’s never an easy decision for a founder to hand a business over to someone else,” Dundas said. “We spent a lot of time getting to know the culture at WebPT and seeing how they value their customers the same way we do. We’re confident that WebPT will take care of our customers with the same level of customer service that they’ve become accustomed to.”

Currently, WebPT’s integration with Therabill is similar to those WebPT offers with its other billing partners. In each of those set-ups, data flows from WebPT into the billing software. However, once WebPT creates a bidirectional integration with Therabill, rehab therapy practices of all sizes will have a single solution to their documentation, scheduling, reporting and billing needs.

“Bringing Therabill under the WebPT umbrella is another step toward our company’s goal of delivering an all-encompassing software platform to help therapists achieve greatness in practice,” said WebPT co-founder and COO Dr. Heidi Jannenga, PT, DPT, ATC/L. “It’s an exciting time for us, and we can’t wait to introduce this solution to the therapy community. Our customers have been asking for a solution like this, and in true WebPT fashion, we’re answering with an innovative product that will change the game for our current and future membership base.”

About WebPT, Inc.
With more than 49,000 members and 7,800 clinics, WebPT is the leading EMR for physical therapists (PTs), occupational therapists (OTs) and speech-language pathologists (SLPs). Offering a simple, affordable solution, WebPT makes it easy for therapists to transition from paper and outdated software to a user-friendly, cloud-based system. With WebPT, therapists, directors and front office staff all have access to their patients’ medical records anywhere, anytime. Based in downtown Phoenix, WebPT has a 99.9 percent uptime rate as well as a 99.5 percent customer retention rate. Learn more at WebPT.com.

August 18, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Premier, Inc. acquires healthcare analytics leader Healthcare Insights, LLC

Enhancing enterprise resource planning solution with new budgeting capabilities

CHARLOTTE, N.C. (Aug. 12, 2015) — Premier, Inc. (NASDAQ: PINC), a leading healthcare improvement company, today announced that it has acquired Healthcare Insights, LLC for $65 million in cash. Healthcare Insights is a privately-held,integrated financial management software developer that provides hospitals and healthcare systems with budgeting, forecasting, labor productivity and cost analytic capabilities.

“As the healthcare industry becomes more complex, value-driven, and data-dependent, the need for health systems to clearly understand their performance in every arena is a top concern,” said Keith J. Figlioli, Premier’s senior vice president of health informatics. “It is not enough to have financial, operational and clinical data. Health systems must understand how to translate that information into effective cost containment strategies, as well as superior clinical outcomes.”

The industry’s increased focus on cost is largely driven by the Affordable Care Act, which reduces overall reimbursement, and increasingly holds providers accountable for the total costs and quality of the care delivered. Coupled with the growing movement to value-based payments such as bundling or shared savings, healthcare providers need solutions that can help them understand cost drivers and opportunities for improvement in detail. Healthcare Insights is expected to enable Premier to offer a more complete solution that delivers additional value by adding budgeting, clinical financial management and productivity analytics to existing cost and quality applications, including the company’s enterprise resource planning (ERP) solution.

Thomas Johnston, Healthcare Insights’ chief executive officer, said, “This strategic combination will allow us to offer a more complete ERP solution with an end-to-end view of cost management. We expect this to increase our hospitals’ and health systems’ understanding of their clinical, operational and financial performance, and help them deliver more efficient, higher quality care.”

Founded in 2000, Healthcare Insights’ current customer base includes over 7,500 users across 200 facilities associated with 94 health systems, 49 of which do not currently have a relationship with Premier. KLAS, a leading research firm that provides ratings for more than 900 healthcare products and services, has ranked Healthcare Insights first place in budgeting for the past four years.

The Healthcare Insights acquisition, which was effective July 31, is currently projected to be modestly accretive to Premier’s fiscal 2016 revenue growth and adjusted EBITDA. Expected revenue and adjusted EBITDA contributions from the acquisition will be incorporated into Premier’s fiscal year 2016 guidance, which is scheduled to be announced on August 24, when the company reports fiscal fourth-quarter and full-year 2015 financial results.

About Premier, Inc.

Premier Inc. (NASDAQ: PINC) is a leading healthcare improvement company, uniting an alliance of approximately 3,400 U.S. hospitals and 110,000 other providers to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, and advisory and other services, Premier enables better care and outcomes at a lower cost. Premier, a Malcolm Baldrige National Quality Award recipient, plays a critical role in the rapidly evolving healthcare industry, collaborating with members to co-develop long-term innovations that reinvent and improve the way care is delivered to patients nationwide. Headquartered in Charlotte, N.C., Premier is passionate about transforming American healthcare. Please visit Premier’s news and investor sites on premierinc.com for more information about the company.

August 12, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

BoardVitals Raises $1.1M to Build the Wikipedia of Medicine

Continues to grow market share across siloed medical education and accreditation landscape

NEW YORK, NY – (August 3, 2015) — BoardVitals, a rapidly growing healthcare startup based in New York City, announced today that it has raised $1.1 million in Series A funding from Rock Creek Capital, a Salt Lake City based growth equity fund. This follows initial seed funding from several investors, including Blueprint Health, Rothenberg Ventures, and Charles Boorady, the number one healthcare investor, according to Forbes.

BoardVitals has rapidly gained market share by redefining a siloed industry, medical assessments and certifications, and the company has been on a growth tear since it was founded in 2013. BoardVitals has trained over 30,000 doctors and the product has been purchased by over 150 institutions in the past year alone. The company was also named the ‘Most Promising Startup in New York’ as the winner of the 2014 Gust Catapult startup contest.

“BoardVitals will revolutionize the training of health care professionals in a way that will improve the quality of their lives and the quality of care they provide,” says Rick Stratford, a partner of Rock Creek Capital. “The exceptional talent and leadership of Dan Lambert and Dr. Andrea Paul has propelled BoardVitals into a market-leader in healthcare education in less than two years.”

Stratford will join the board of directors following the close of the Series A round. The board of directors also includes Greg Samios, former president of Kaplan Health and a long time adviser to the company.

“During my time working with Dan and Andrea, I have been extremely impressed by their ability to develop a unique assessment tool, which they have rapidly scaled across the healthcare marketplace,” said Samios.

The founding team is no stranger to fast growth companies. BoardVitals CEO Dan Lambert is a Harvard Business School graduate who co-founded Pushpins, a mobile couponing app that was acquired in 2013. Dr. Andrea Paul, chief medical officer, left her successful practice after 8 years of clinical experience to oversee content development. Dr. Paul was recently named one of 10 Disruptive Women in Life Sciences for her work on BoardVitals.

The company offers digital assessment tools that bring together medical content from major sources: publishers, research institutions, and more than 200 individual practitioners.

“It’s not only about new technology, it’s about building a new ecosystem for Medical Education,” says Lambert. “For the first time medical content is not just peer reviewed, but it’s now reviewed by hundreds of doctors within each specialty. Every piece of content on our platform is continually rated and we receive hundreds of feedback notices every week that ensure content is up to date.”

The $1.1M Series A round will be used to grow the team and increase the company’s market penetration. BoardVitals is also the first Manhattan-based company to be accepted into the recently created START-UP NY tax free zone.

About BoardVitals
BoardVitals is a healthcare education startup based in New York City that develops digital assessment tools and medical content to prepare physicians, nurses, and medical health professionals for specialty board exams and certifications. Bringing together content from major publishers, universities, and leading healthcare providers, BoardVitals provides the largest and most up to date training ecosystem in medicine. The company uses machine learning and crowd curation to identify and improve medical knowledge as information is published.  BoardVitals is backed by several investors including Blueprint Health, Rothenberg Ventures, and Rock Creek Capital. For more information, visit http://www.boardvitals.com.

About Rock Creek Capital

Rock Creek Capital, LLC is a growth equity investment firm based in Salt Lake City, Utah.  The partners of the firm, Rick Stratford, Tony Horsley and Jordan Clements, have collectively over thirty years experience in partnering with CEOs in building outstanding, high growth businesses in a range of industries, including business services, healthcare, specialty finance and manufacturing. High growth companies they have previously helped build include Vivint, Energy Solutions, Health Equity, Packsize, Signature Products Group, and Snap Finance, among others.

August 5, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Accolade Secures $22.5 Million in Strategic Funding

PLYMOUTH MEETING, Pa. – July 16, 2015 – Accolade, the market-leading consumer health engagement platform for large employers and insurers, today announced that it has secured $22.5 million in strategic funding from a subsidiary of Independence Health Group, the parent company of Independence Blue Cross (Independence), and McKesson Ventures.

With this investment, Accolade will further strengthen its technology and analytics capabilities while capitalizing on a strong customer pipeline and growing market demand for healthcare solutions that are proven to save money, drive the right utilization and improve how consumers navigate the intricacies of the healthcare system to select high-quality care when it matters most.

“From day one, we’ve been focused on the consumer, and ways to help them overcome the incredible complexity of healthcare so that they get the right care,” says Accolade CEO Tom Spann. “It’s hugely gratifying to receive this latest round of funding from two innovation-driven companies that know healthcare and know Accolade and the kind of results we deliver. With this capital, we’ll invest in growing the business and enhancing our technology & analytics platform — while continuing to make a huge difference in the lives of the individuals and families we serve.”

Accolade currently works with some of the nation’s largest self-insured employers, health systems and health plans, including Independence. Its leading consumer engagement and influence solution helps consumers more effectively use their benefits and access the right care the first time. Accolade’s cloud-based platform integrates longitudinal consumer insights and proprietary algorithms to identify individualized care needs, match intervention types, optimize plans of action and personalize consumer outreach and messaging strategies across digital, mobile and personal channels.

“Accolade successfully marries technology with the personal touch of human interaction to effectively engage consumers, build trust and help members make better healthcare decisions,” said Independence President and CEO Daniel J. Hilferty. “Creating healthcare that’s focusing on what’s best for each individual is central to everything we do, and that personal touch is often one of the missing links in healthcare. We’re excited to invest in a company that is growing rapidly, delivering consistent results, and making the consumer’s healthcare experience a more meaningful and positive experience.”
Independence’s investment with Accolade is the most recent example of the company’s efforts to help establish Philadelphia as a global leader for healthcare innovation. Through its Center for Health Care Innovation, Independence has invested in helping nurture and grow more than 25 early-stage health-related companies engaged in the Dreamit Health business accelerator, and has partnered with national and regional healthcare leaders on joint research into critical issues such as medication adherence and reducing the incidence of diabetes.

According to Tom Rodgers, SVP and managing director of McKesson Ventures, Accolade perfectly aligns with the fund’s goal of investing in technology-enabled service companies that are enabling employers to more effectively influence consumer healthcare behavior and cost trends.

“We’re excited to support the continued growth and success of Accolade,” said Rodgers. “While there’s no shortage of innovative point solutions that address discrete healthcare issues, the reality is that they are highly underutilized, particularly by those who drive the most costs. In Accolade, we see a compelling concierge navigation platform that minimizes the hassle and confusion associated with our complex healthcare system, while generating the trust of employees and their families. This trust leads to influence, which allows Accolade’s customers to optimize the utilization of their other programs such as second opinion services, telehealth, cost transparency tools and centers of excellence programs which in turn optimizes their financial return.”

Independence and McKesson Ventures join previous investors Accretive LLC, Carrick Capital Partners, Oak Hill Capital Partners and Comcast Ventures.

About Accolade
Accolade is the country’s leading consumer healthcare engagement and influence platform for large self-insured employers and payer organizations. We help consumers navigate the complex world of healthcare and benefits, find the right providers and get the right care the first time. Our fully integrated solution is delivered through a powerful combination of Accolade Health Assistants® and advanced technology. By addressing some of the biggest problems facing healthcare – low engagement, lack of trust, and consumer knowledge gaps and errors – we’re able to consistently save our customers an average of 5-15 percent per year while delighting the individuals and family members we serve. Headquartered in Plymouth Meeting, Pa., Accolade has been recognized as one of the nation’s 25 most promising companies by Forbes magazine, the fastest-growing private healthcare company by Inc. 500 and a Top Workplace in Philadelphia for five consecutive years. For more information, visit www.accolade.com.

About Independence Blue Cross
Independence Blue Cross is the leading health insurance organization in southeastern Pennsylvania. With our affiliates, we serve nearly 10 million people in 24 states and the District of Columbia, including 2.5 million in the region. For nearly 80 years, we have been enhancing the health and wellness of the people and communities we serve by delivering innovative and competitively priced health care products and services; pioneering new ways to reward doctors, hospitals, and other health care professionals for coordinated, quality care; and supporting programs and events that promote wellness. To learn more, visit www.ibx.com. Connect with us on Facebook at ibx.com/facebook and on Twitter at @ibx. Independence Blue Cross and Independence Health Group are independent licensees of the Blue Cross and Blue Shield Association.

About McKesson Ventures
McKesson Ventures is the venture capital arm of McKesson Corporation specializing in early and growth stage companies. McKesson Ventures targets companies that both catalyze and benefit from the key changes taking place in the U.S. healthcare landscape by bringing greater efficiencies to patient care and improving the healthcare experience. McKesson Corporation, currently ranked 11th on the FORTUNE 500, is a healthcare services and information technology company dedicated to making the business of healthcare run better. We work with payers, hospitals, physician offices, pharmacies, pharmaceutical companies and others across the spectrum of care to build healthier organizations that help deliver better care to patients in every setting. Visit mckessonventures.comto learn more.

July 16, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

medCPU Closes $8 Million Financing, Continues to Reinforce Leadership Position in Clinical Decision Support Market

NEW YORK, N.Y., July 14, 2015 – medCPU, Inc., a leader in enterprise clinical decision support solutions, announced today that it closed an $8 million financing round, consisting of $5 million series B-2 equity and $3 million in debt financing. The equity round was led by Merck Global Health Innovation Fund and New Richmond Ventures, and debt financing was provided by Silicon Valley Bank. This additional funding will enable medCPU to continue to assert its leadership position in the dynamic clinical decision support marketplace.

“We are driven by the confidence of our financial partners to further achieve our vision of changing the face of clinical decision support as it is known today,” said Sonia Ben-Yehuda, President and Co-Founder of medCPU, Inc. “In the past, the adoption of decision support has been stifled by outdated technologies that do not meet the needs of today’s clinicians. Unlike older, unreliable technologies that cause alert fatigue among clinicians, our solution delivers highly accurate and reliable decision support to clinicians at the point-of-care in real-time without disrupting their workflow.”

In a fast-paced environment where every detail is critical to a patient’s quality of care, real-time clinical decision support is a crucial component of a clinician’s workflow. The medCPU Advisor™, medCPU’s enterprise platform technology, acquires and processes both structured and unstructured data immediately as it is entered into a clinician’s Electronic Medical Record (EMR) system. The technology then assesses the data against best practice modules to provide the clinician with a holistic view of their patient and to ultimately provide highly accurate, real-time, reliable prompts at the point-of-care.

“We work with the most innovative companies, and those that have potential to transform the future of healthcare,” commented Michael Hanewich, Managing Director, Head of Life Science and Healthcare Venture Capital Relationships for Silicon Valley Bank. “The medCPU team has the vision and expertise to improve the accuracy and delivery of healthcare as it stands today.”

“Our technology is already being used by over 20,000 clinicians and a number of leading healthcare providers,” added Ms. Ben-Yehuda. ”This financing will help us to continue to grow our market share. We are excited about facilitating the move beyond antiquated, evidence-based reference tools to a new era of clinical decision support.”

medCPU’s solution is simple and seamless to deploy as it does not require integration into an EMR system or complex data connectivity to an interface engine. The medCPU Advisor™ enables healthcare providers to optimize investments already made in their EMRs. Running in the background of an EMR system unseen, the technology reads and captures data without disrupting a clinician’s workflow and only provides notifications when deviation from best practice care consideration occurs.

To meet the needs of different specialized health care organizations, medCPU delivers a wide range of customizable clinical and compliance decision support solutions, including modules for Obstetrics, Spine, Stroke, CHF, COPD, Value Based Purchasing, DRG’s, ICD-10, VTE Prophylaxis, Population Health, and in partnership with ILÚM Health Solutions™ (a subsidiary of Merck & Co., Inc. Kenilworth, NJ) is developing modules for Infectious Diseases such as Sepsis, Pneumonia and Urinary Tract Infection that also enable comprehensive Antimicrobial Stewardship.

About medCPU:
medCPU delivers accurate real-time enterprise decision support software and services through its proprietary Advisor technology. medCPU captures the complete clinical picture from clinicians’ free-text notes, dictations, discharge summaries and structured documentation entered into any Electronic Medical Record (EMR), and analyzes it against a growing library of best-practice content, generating real-time precise prompts for best care consideration. medCPU’s founding multi-disciplinary team has been pioneering new clinical decision support for nearly 20 years, delivering intelligent error reduction software systems to hospitals across the United States. medCPU’s applications include clinical and compliance support solutions. For more information, visit www.medCPU.com.

July 15, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

ALLSCRIPTS TAKES $200M EQUITY POSITION IN NANTHEALTH AND EXPANDS STRATEGIC ALLIANCE TO ENHANCEPRECISION GENOMIC MEDICINE AT POINT OF CARE

New Agreement Calls For Accelerating Delivery and Coordination of 21st Century Evidence Based Precision Medicine

CHICAGO and CULVER CITY, CA – June 30, 2015 – Allscripts (Nasdaq: MDRX) (“Allscripts”), a global leader in healthcare information technology solutions, and NantHealth, a cloud-based information technology company, announced they have taken a significant step forward in their strategic partnership through two cross-investments and a strengthening of their commercial agreement. The investments include Allscripts’ purchase of a 10% equity stake in NantHealth for $200 million in cash. In addition, NantCapital, LLC, the personal investment vehicle of Dr. Patrick Soon-Shiong, founder of NantHealth, has made a $100 million investment into Allscripts.

NantHealth is a healthcare IT company providing the most comprehensive genomic and protein-based molecular diagnostics testing in the market today through its first in class Genomic Proteomic Sequencing (GPS Cancer) diagnostic test, applying this actionable health information to create personalized cancer treatment plans through its sophisticated care planning tool Eviti. NantHealth is in the process of bringing GPS Cancer to the point of care and into the patient’s home through a single integrated clinical platform. The Company’s vision is to allow IDNs, Academic Medical Centers, Pediatric Centers, physicians, patients, payers, employers, researchers and pharma to coordinate personalized cancer care, enable access to cutting edge clinical trials, monitor outcomes and control cost in real-time.

The investments and commercial agreement strengthen the partnership between Allscripts and NantHealth, originally announced in March 2015, to develop an integrated, evidence-based, personalized approach to healthcare solutions, and specifically cancer care. The companies will use Allscripts’ scale, global network of hospital and physician clients and leading software solutions, combined with NantHealth’s clinical platform, applications and connectivity devices to build out the infrastructure for new personalized, precision medicine programs for our clients to improve cancer care.

Going forward, NantHealth and Allscripts are focused on working together to accelerate the dissemination of technologies that seamlessly bring the promise of comprehensive molecular diagnostics to the routine, patient care setting. Specifically, the companies intend to work on joint development of: API-based integration between the two companies’ solutions; the creation of a cross clinical-GPS Cancer sequencing knowledge ontology and industry standard; the development of GPS Cancer sequencing invitations via the Allscripts FollowMyHealth® solution; integration of NantTransporter giving access to NantCancer Genome Browser, NantContraster and Paradigm and the development of an ACO solution incorporating semantic interoperability.

Research has shown that a physician’s ability to make effective, evidence-based clinical decisions can improve by using specifically matched cancer protocols and drugs, delivered to the patient based on the individual’s unique DNA, RNA and proteomic profile, and integrated with the patient’s holistic clinical picture. http://www.ascopost.com/issues/june-25,-2015/redefining-cancer.aspx For the first time, NantHealth and Allscripts can integrate these two aspects into a unique knowledge-based solution to significantly improve the way clinicians treat cancer.

Together, physicians and patients will have the tools to stay engaged and active and provide necessary intervention as early as possible. Leveraging innovations in patient engagement, care coordination and disease management; NantHealth and Allscripts are creating the first fully comprehensive and integrated platform that will provide a transformation to the coordination and delivery of personalized care across the spectrum of integrated health systems, across community ambulatory and tertiary practices.

Paul M. Black, President and Chief Executive Officer of Allscripts, said, “We’re taking an important step forward in our strategic partnership that fully aligns our resources and furthers Allscripts’ strategy to invest in new technologies that can revolutionize service to hospitals and physicians. Under the leadership of Dr. Soon-Shiong, NantHealth is pioneering extraordinarily innovative, personalized healthcare solutions that will empower more efficient and effective clinical decisions. We’re confident that our joint efforts will help Allscripts lead the way in our vision of delivering an open, integrated and precision-based medical solutions to physicians and patients.”

Dr. Soon-Shiong stated, “Since the NantHealth/Allscripts partnership began earlier this year, we have come to know Allscripts and its management team well, and I am confident that they can be a major contributor toward the execution of our vision. Allscripts has the technology and scale to become a significant player in a once-in-a-generation shift to personalized medicine. Pursuing unique and innovative partnerships such as this, which can integrate our solutions across the full spectrum of precision care, furthers our mission of building a healthcare ecosystem to drive better outcomes with the highest quality and lowest cost.”

Provider Reaction

“North Shore-LIJ has an established commitment to oncology research and the delivery of world-class cancer care,” said Michael J. Dowling, president and chief executive officer of the North Shore-LIJ Health System. “Today’s announcement of an expanded strategic alliance between NantHealth and Allscripts is exciting, both in terms of furthering our clinical mission and the opportunity to generate additional value from our long-term partnership with Allscripts. We look forward to participating in this alliance as we work together to deliver on the potential for truly personalized care.”

“Today’s healthcare providers are looking for innovative solutions that are integrated across the continuum of care,” said Robert L. Meyer, president and chief executive officer of Phoenix Children’s Hospital. “Allscripts and NantHealth offer a promising vision for how tomorrow’ssolutions will provide healthcare professionals with a personalized, comprehensive view of the patient, better analyze data, create precise protocols to drive down costs and improve patient outcomes throughout our healthcare system.”

Allscripts Adds New Sunrise Hospital Client

Allscripts also announced today that Windber Medical Center, a nonprofit, community healthcare provider, NantHealth client and affiliate, has selected the Allscripts Sunrise™ platform to be the new core electronic health record for its hospital facility, replacing its current electronic health system. Located in Somerset County, in Southwestern Pennsylvania, Windber Medical Center offers comprehensive primary and acute care including a critical care unit, home health and hospice care
fitness and wellness programs as well as the Joyce Murtha Breast Care Center.

“Windber Medical Center together with the CAP certified and Platinum rated human tissue repository at the Windber Research institute and its partnership with Walter Reed Medical Center is poised to be an integrated cancer center with the most cutting edge scientific genomic research in cancer, and our affiliation with NantHealth and Allscripts will propel us towards our mission of providing 21st century care at the community level,” said Tom Kurtz, CEO of Windber Medical Center.

NantCapital Investment in Allscripts

NantCapital’s investment has been executed through a private placement of Allscripts common stock. Allscripts received gross proceeds of approximately $100 million in the private placement. The combined impact of the expanded commercial agreement and cross-investments is expected to be modestly accretive to Allscripts earnings in 2016 and become increasingly accretive over the five-year term of the commercial agreement. The transaction does not change Allscripts 2015 guidance.

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About Allscripts
Allscripts (Nasdaq:MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

About NantHealth
NantHealth, a member of the NantWorks ecosystem of companies, is a healthcare transformational cloud-based IT company converging science and technology through a single integrated clinical platform, to provide actionable health information at the point of care, in the time of need, anywhere, anytime. NantHealth works to transform clinical delivery with actionable clinical intelligence at the moment of decision, enabling clinical discovery through real-time machine learning systems. The company’s technology empowers clinicians, patients and researchers to transcend the traditional barriers of today’s healthcare system. By converging molecular science, near real-time patient signal monitoring, computer science and big data technology, the NantHealth Clinical Operating System (cOS) platform empowers providers, patients, and commissioners to coordinate best care, monitor outcomes and control cost in real-time. This is the first system of its kind in healthcare, enabling 21st century coordinated care at a lower cost, enabling value-based population health management at a single patient level and at the population at large. For more information please visitwww.nanthealth.com and follow Dr. Soon-Shiong on Twitter @solvehealthcare.

About NantCancer Genome Browser
NantOmics, NantCancer Genome Browser enables clinicians for the first time to investigate a tumor genome from the full three billion bases down to the single-base level in real-time, thanks to the power of the NantOmics supercomputing and secure mobile infrastructure. The Cancer Genome Browser integrates with NantHealth’s treatment recommendation engine, Eviti, to personalize treatment protocols and clinical trail selection to individual patients based on their genomic and transcriptomic signature. The NantCancer Genome Browser is fully encrypted to allow deployment in a HIPAA secured environment, enabling clinicians to securely access patient data as soon as it’s available, wherever they
are.

About NantTransporter
Data transfer is one of the largest challenges associated with the analysis of sequencing data. NantOmics has designed an infrastructure capable of storing and processing thousands of genomes a day quickly and securely. Our NantTransporter software application enables secure transport of data directly from sequencing machines to NantOmics’s secure private genome processing cloud. Data streams are encrypted using 128-bit Advanced Encryption Standard (AES-128), the same algorithms designated for Top Secret government documents. Initiating a transfer is as easy as obtaining a transfer code from our web site, and specifying the files to be sent. Annotation of the genomes begins immediately with no downtime between transferring and the beginning of processing.

NantWorks has built a dark fiber network capable of Tb/sec transfers between hospitals, academic institutions and sequencing centers. In July 2012 we demonstrated the capabilities of NantTransporter by transferring 94 TB of genomic data and achieved speeds of up to 9.55 Gb/sec with a sustained rate of over 8.232 Gb/sec, the fastest and largest documented transfer of genomic data to date. To date we have transported over 15,000 cancer genomes via NantTransporter.

About NantContraster
Accurately assessing the state of a patient’s genome is one of the most powerful tools in the emerging field of personalized medicine. NantOmics applies its leading, novel genomic analyses to rapidly discover variants in a patient’s raw genomics data using the latest sequencing technologies combined with advanced statistics and machine learning techniques.

NantContraster annotates all variants against a knowledge database comprising all known and probable disease-associated genes to rank the genomic alterations that have the highest clinical relevance. When applied to cancer tumor/normal samples, our analysis is capable of quickly identifying genomic alterations that could lead to tumorigenesis for a fraction of the cost of conventional approaches. NantContraster is capable of concurrently processing many samples to handle large workflows from researchers and hospital settings.

About Paradigm
PARADIGM (Pathway Recognition Algorithm using Data Integration on Genomic Models) is a proprietary algorithm that uses a probabilistic graphical model to integrate multiple genomic data types on curated pathway databases and is unique for its per-sample approach that allows individual samples to be assessed alone or within the context of a cohort of interest.

June 30, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

CareCloud Strengthens Operations with $15M in New Funding and Appointment of Silicon Valley Leader Ken Comée as CEO

Investments Follow a Record First Quarter Amid Accelerating Adoption By Large Ambulatory Medical Groups

MIAMI, FL April 23, 2015 – CareCloud, the leading provider of cloud-based practice management, electronic health record (EHR), and medical billing software and services, today announced that it bolstered its operations with new funding and a new CEO to take its market momentum to the next level. The company disclosed $15M in additional funding from its investors, which will be used to further advance product innovation and customer success. It also appointed Ken Comée, a proven leader of enterprise cloud technology businesses, as its Chief Executive Officer, replacing Albert Santalo who will remain at CareCloud as Chairman and Chief Strategy Officer.

“Since its inception, CareCloud has achieved incredible success and growth by delivering an unparalleled platform to help healthcare organizations run better than they ever have before through connected technologies. Ken has been a supporter, friend and confidant for a number of years now and I’m confident that the team, under his leadership, will reach new heights and continue to drive CareCloud’s mission,” said Santalo.

During the past three years, Comée has helped steer CareCloud’s industry-leading growth in his role as a Board member and operational advisor. Comée assumes the CEO role at CareCloud following a successful track record of helping cloud-based technology innovators to secure and extend market leadership.  As CEO of Cast Iron Systems, he grew the company into the #1 brand in cloud integration, leading to its strategic acquisition by IBM.  Most recently, he was CEO of PowerReviews, a leader in product ratings and reviews, and oversaw the scaling of its operations and fast growth in the market.

The company’s investments follow the achievement of record contract values in the first quarter of 2015 – driven by increased demand from large medical groups replacing legacy systems. CareCloud signed seven of its largest deals to date in Q1, as average contract value tripled over the prior year. Among the nearly 50 new clients to select the CareCloud platform in Q1 was a large, multispecialty urgent care group practice with locations across the Southwest.

“The health information technology landscape has changed dramatically in the past year,” said Comée. “Regulatory considerations once drove many purchasing decisions. Today, large ambulatory medical groups demand a true platform of choice that offers superior ease of use and better business results in support of patient care. As the first quarter of 2015 demonstrated, no company is better positioned than CareCloud to lead the charge in replacing legacy systems.  I look forward to leading this team in support of that mission.”

About CareCloud

CareCloud is the leading provider of cloud-based practice management, electronic health record (EHR), and medical billing software and services for medical groups. The company’s products are connecting providers to one another – and to their patients – through a fully integrated digital healthcare ecosystem that can be accessed on any browser or device.

CareCloud is helping thousands of physicians increase collections, streamline operations, and improve patient care in 48 states, and currently manages more than $4 billion in annualized accounts receivables on behalf of its revenue cycle management clients. To learn more about CareCloud, visit www.carecloud.com.

April 23, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Singularity University Announces New Multi-million Dollar Agreement with Google to Support Increased Global Access and Diversity in Technology Sector

MOUNTAIN VIEW, CA (January 28, 2015). Singularity University (SU), the technology-focused education institute and global business accelerator has announced a new multi-million dollar agreement with Google aimed at breaking down barriers to technology innovation by creating opportunities for a more diverse group of entrepreneurs from around the world.

Through the agreement, Google will provide $1.5 million annually for the next two years to help fund qualified and selected candidates to SU’s flagship Graduate Studies Program (GSP) – a 10-week immersive experience that educates and empowers the best minds to use exponential technologies to solve the world’s greatest challenges. While SU’s sponsored Global Impact Competitions (GIC) winners will continue to comprise a substantial portion of the GSP class, the new Google funding will enable SU to also make the remaining seats in the program available free of charge to direct applicants. GSP participants are engaged in nine tracks of exponential technology development and mentored by leaders and investors in the technology sector with the focus of abating poverty and creating innovative solutions in the areas of clean energy, water, education, security, and healthcare.

Applications are now open for the 2015 Graduate Studies Program through SU’s Direct Admission online application:  http://apply2015.singularityu.org/

“The new agreement with Google is an incredibly important pillar in our efforts to increase global access and diversity for qualified candidates, regardless of their ability to pay,” said Rob Nail, CEO and Associate Founder of Singularity University. “As a graduate of an SU program, I can speak first-hand to the life-changing experience SU offers in inspiring thinking about how technology can improve the lives of billions. Google’s support will further help to break down barriers of access to the Silicon Valley network of technologists, business leaders, and investors.”

Google has long understood the importance of breaking down barriers to be active participants in the creation of technology. “At Google, we believe in the power of access, and we work with organizations to create broad and diverse communities to be change agents,” said Mo Fong, Director of Google’s education outreach programs.

Sample Graduate Studies Program Success Stories

Bibak, a team of women from #GSP14, made a pledge to ensure that every person living in a post-conflict area should live a life free from the ever-present fear of landmines. This team, with members from Italy, Australia and Peru created the Bibak “podtector”, an effective and inexpensive landmine detector that can be assembled on site and delivered in a way that is sustainable, coordinated, and community-led.

More at: http://vimeo.com/104347651

Hivematic. When we think of the fragility of ecosystems, we often think of the decline of fish stocks or large predators, but it is the decline of the lowly bee that could have the greatest impact on humankind with the total number of managed honey bee colonies now decimated from 5 million in the 1940s to less than 2.5 million today. A #GSP13 team project created a smart beehive monitoring system with real-time optimization of hive conditions, thus reducing the risk of colony failure.

More at: https://www.youtube.com/watch?v=UobjSw-y1lQ

Matternet, a team project from #GSP11, had the vision to use unmanned aerial vehicles (UAVs) to ferry medicine and other goods to remote places, such as rural villages in Africa where people often have to walk 20 miles or more to a clinic to receive treatments as simple as blood tests or pills. With Matternet, UAVs will carry the payloads for a substantially lower cost than ground transportation.

More at: http://matternet.us/

Blue Oak Priv Bradoo first considered the idea of extracting valuable metals (copper, silver, platinum, etc.) from discarded electronics (e-waste) at #GSP09. Since then, the company has grown exponentially and now uses existing scaled-up mining industry technologies to capture value from the 40 million tons of e-waste that is landfilled or incinerated annually around the world, containing 70 billion dollars worth of precious and base metals.
More at: http://blueoakresources.com/

Miroculus, a #GSP13 team project, has brought to life an accurate, easy to use, non-invasive, decentralized, operator-independent and affordable microRNA detection platform for molecular data gathering, analysis and interpretation.

More at: http://miroculus.com/

About the Graduate Studies Program

The Graduate Studies Program (GSP) convenes future leaders and entrepreneurs from around the world in a 10-week collaborative experience to develop team-based technology solutions to widespread global challenges. During the GSP, participants are challenged to design a sustainable global solution to positively impact one billion people by leveraging exponential trends, innovation, and the power of entrepreneurship.

About Singularity University

Singularity University’s (SU) mission is to educate, inspire and empower a generation of leaders to apply exponential technologies to address humanity’s grand challenges. Since 2009, SU has hosted entrepreneurs, industry leaders and government officials from more than 85 countries and has prepared both individuals and organizations for exponential technology changes through a series of events, conferences and education programs. SU’s Founding Corporate Partners include Genentech, Autodesk, Cisco, ePlanet Ventures, Google, Kauffman Foundation and Nokia.

January 28, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.