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Navicure Partners with Bain Capital Private Equity to Continue Growth and Expand Healthcare Technology Platform

Investment to fuel growth from new products and expansion to new market segments

DULUTH, GA and BOSTON, June 15, 2016 – Navicure, a leading provider of cloud-based claims management and patient payment solutions for physician practices and hospitals, today announced the signing of a definitive agreement to receive a strategic investment from Bain Capital Private Equity, a leading global private investment firm.  Financial terms of the private transaction were not disclosed.

Navicure, which is headquartered in Duluth, Georgia, will continue to be led by current CEO and founder, James M. Denny, Jr. and his executive team.  They will retain a meaningful interest in the business.  Selling shareholders include JMI Equity and other minority investors.

Navicure’s subscription-based software solutions help healthcare organizations of all sizes increase revenue, accelerate cash flow, and reduce the costs associated with managing insurance claims and patient payments.  Serving more than 90,000 healthcare providers nationwide, Navicure’s integrated revenue cycle management platform automates accounts receivable processes, and assures timely and accurate billing and collection from payers and patients.  The Company’s solutions help healthcare providers effectively handle claims management, patient eligibility verification, remittance and denial management, appeals, posting, reporting and analysis, and patient payment collections at and near the time of service.

Denny, who founded the business in 2001, said about the partnership, “We are proud that Navicure, for over 15 years, has helped thousands of healthcare organizations from large health systems to solo practices improve their financial results with less effort through the use of our SaaS-based solutions. Their success is our success.  We remain committed to our mission of developing innovative solutions that enable our clients to stay one step ahead. We believe the resources and experience of Bain Capital Private Equity give us an important advantage as we continue to grow our business and deliver an even wider array of differentiated solutions to our clients.”

Bain Capital Private Equity has a history of successful investments in a variety of healthcare and information technology businesses including Applied Systems, Viewpoint Construction Software, Blue Coat Systems, BMC Software, HCA Healthcare, Beacon Health Options, Physio-Control, Quintiles Transnational and CRC Health Group.

Chris Gordon, a Managing Director on Bain Capital Private Equity’s healthcare industry team, said about the investment, “Jim Denny and his team are at the forefront of developing innovative solutions that help healthcare providers manage an increasingly complex healthcare reimbursement ecosystem.  Leveraging technology and data to automate revenue cycle management is vital in light of economic pressure from payers, the shift of more payments to consumers, and the important role providers play in managing the cost and quality of healthcare.”  David Humphrey, Managing Director on Bain Capital Private Equity’s TMT industry team, added, “Navicure’s SaaS platform gives the Company the unique ability to provide clients with cutting-edge solutions combined with excellent service and exceptional financial results.”

The transaction is expected to close in July 2016.  Aeris Partners LLC served as the exclusive M&A advisor, and Jenner & Block acted as legal counsel, to Navicure. Ropes & Gray LLP is serving as legal counsel, and PwC LLP is serving as accounting advisor to Bain Capital Private Equity.  Committed financing for the transaction is being provided by Antares Capital serving as administrative agent and lead arranger, and Bain Capital Credit, Capital One Healthcare and NXT Capital serving as joint lead arrangers.

June 15, 2016 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.

Bayshore Networks Raises $6.6 Million From Trident Capital Cybersecurity and Current Angel Investors

Provides Cloud-Based Software That Addresses Security Gaps in the Industrial IoT; Impressed Investors With Its Growing Base of F-100 Customers and Strategic Alliances; Overall Revenues for IoT Security Products Will Exceed $20B by 2020, According to IDC

BETHESDA, MD–(Marketwired – May 10, 2016) – Bayshore Networks, the cybersecurity leader for the Industrial Internet of Things (IoT), today announced that it has raised $6.6 million in Series A funding from Trident Capital Cybersecurity and its existing angel investors. Alberto Yépez, managing director of Trident Capital Cybersecurity, will join the company’s board. Will Lin, vice president of Trident Capital Cybersecurity, will be a board observer.

Trident Capital Cybersecurity watched Bayshore Networks’s growth success for nearly two years as it achieved its key milestones. “We chose to lead the Series A because Bayshore has been recognized as an innovator and early leader in an emerging cybersecurity segment that is largely untapped to date,” said Alberto Yépez, managing director of Trident Capital Cybersecurity. “We are impressed with the company’s cutting-edge cloud-based technology, the team’s ability to grow its customer base across theFortune 100, and its track record of developing strategic alliances with world-class players.”

Targeting Cybersecurity for the Industrial Internet
While the Internet provides significant business advantages to industrial enterprises, it leaves their operations exposed and vulnerable to the hazards of the Internet. Bayshore was founded in 2012 to help protect industrial enterprises against Internet-based cyber attacks, which are becoming increasingly common.

The term “Industrial Internet” refers to the convergence of networked applications and sensors with industrial machinery and processes. The Industrial Internet of Things (IoT) represents new business opportunities for enterprises in industries such as manufacturing, critical infrastructure, smart cities and connected cars.

Bayshore’s cloud-based software, called the Bayshore IT/OT Gateway, provides IT departments with visibility into OT (Operational Technology) infrastructure, networks, applications, machines and workers. These OT networks are undergoing transformation and require services traditionally available for IT networks, such as secure remote access and analytics. Bayshore provides immediate value by preventing OT process disruptions and enhancing operational efficiency and business continuity.

The software is distinguished by extremely granular inspection and filtering of network flows — all the way down to machine sensor values — and the ability to provide security enforcement and application segmentation and isolation via flexible, rapidly deployed policies. Bayshore’s policy engine is capable of supporting common industrial protocols and quickly adapting to new and proprietary protocols.

These capabilities are built from the ground up for Industrial Internet and provide Bayshore’s F-100 customers with future-proof, cloud-based solutions that are complementary to legacy hardware-based industrial firewalls. Designed for IT perimeter security, firewalls look for IP addresses and ports, which means they block attacks according to standard Internet parameters. Because industrial cyber attacks are typically based on granular machine instructions that alter sensor values, Bayshore’s unique technology is well positioned to detect industrial attacks that are often overlooked by other security technologies.

If the Industrial Internet is adequately protected, General Electric estimates it has the potential to add up to $15 trillion in global Gross Domestic Product (GDP) over the next 20 years.(1) IDC believes that revenues for IoT security products, which totaled $9.4 billion worldwide in 2015, will exceed $20 billion by 2020, a compound annual growth rate of 16.5 percent.(2)

“Bayshore intends to capitalize on the rapid expansion of the market by continuing to focus on solving our customers’ problems,” said Mike Dager, the CEO of Bayshore. “That means providing protection of their industrial operations and workers. Because our software supports all popular industrial protocols and easily adapts to proprietary protocols, we will continue to target customers across a broad spectrum of industrial verticals.”

“The protection of industrial control systems from cyber attacks may be one of the most urgent areas of cyber security in the world today,” said Dr. Edward G. Amoroso, former SVP and CSO of AT&T, and now CEO of TAG Cyber LLC. “Bayshore Networks offers a range of effective and scalable software and virtual solutions to accomplish this important objective.”

Bayshore will use some of its venture capital proceeds to complete the relocation of its headquarters from New York City to Bethesda, Maryland, to access the rich cybersecurity expertise in metropolitan Washington, D.C. It will also invest the capital in R&D and in the expansion of its engineering and sales teams.

About Bayshore Networks, Inc.
Bayshore Networks®, named a Gartner Cool Vendor and SINET 16 Innovator, is the cybersecurity leader for the industrial Internet of Things. The Company’s award-winning, patented Bayshore IT/OT Gateway™ software unlocks the power of the Industrial Internet by enabling industrial applications and data. It provides Fortune 1000s with unprecedented visibility into their Operational Technologies, safely and securely protecting industrial applications, networks, machines and workers. The software platform deploys from the cloud, as a virtual machine, or on-prem as a hardware appliance. Bayshore has strategic alliances with leading technology companies including AT&T, BAE Systems, Cisco Systems, and VMware. For more information, visit www.bayshorenetworks.com.

About Trident Capital Cybersecurity
Trident Capital Cybersecurity is a venture capital firm that invests in early-stage companies leveraging emerging technologies in cybersecurity. The firm is a spinout of Trident Capital, which in 1998 became one of the pioneers of cybersecurity venture capital investing… Managing Directors Alberto Yépez, Don Dixon and Sean Cunningham jointly lead the cybersecurity investment team and sit on the boards of Airtight Networks, AlienVault, Blue Cat, Hytrust, IronNet Cybersecurity, Mocana, and Qualys. Renowned as the venture capital firm with the most valuable network of cybersecurity relationships, Trident Capital Cybersecurity also relies on input from a 40-person Cybersecurity Advisory Council, consisting of industry CEOs, customers and former top-level government leaders. Bayshore Networks is the firm’s third investment. Earlier investments were made in IronNet Cybersecurity and Survela. For more information, visitwww.tridentcybersecurity.com.

(1) “Pushing the Boundaries of Minds and Machines,” Peter C. Evans and Marco Annunziata, General Electric, November 2012.
(2) “Worldwide Internet of Things Security Products Forecast 2016-2020: Vendors Identify Practical Solutions,” doc #US40829715, January 2016.

May 10, 2016 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.

Nokia and Withings: Connecting People to Better Health

By Ramzi Haidamus, President Nokia Technologies

Today is a day to celebrate! Over the years, many of you have shared with us your love for Nokia. We’ve heard so many great stories about the coolest Nokia device you ever owned — something that helped define your life, make it better, more fun, and more connected to the people and things that matter to you most. Your continued enthusiasm is just one of the reasons we’re thrilled to announce some very big news today.

We’re now starting a new chapter as a company, this one focused on connecting you to better health through technology. We aim to help you lead a happier, healthier life through the kind of beautifully designed products that you expect from Nokia.

To help us do this as fast as possible, we will be welcoming Withings into the Nokia family. A leader in digital health products and apps designed to improve everyday well-being and long term health, Withings will combine perfectly with Nokia’s heritage of mobility and connectivity.

Withings products already help people manage every aspect of their health and lead a more balanced life. Their products allow you to measure how your lifestyle is affecting your wellness — how well you’re sleeping, how many calories you’re burning, how many steps you’re taking — and go beyond the numbers to give you information that matters. They help you understand how your body responds to activity and changes — the impact your activity is having on your body temperature, your weight, your blood pressure and your heart. And they do it with such a beautiful design that you love to wear them anywhere — at work, at home, or even at the opera.

Please stay tuned for more news about this new chapter for Nokia. We’re thrilled to be welcoming the Withings team to Nokia Technologies and help spread the word about all the awesome products they’re building. Together, we’ll take digital health products beyond counting and tracking to help people everywhere connect to healthier and happier lives.

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Nokia plans to acquire Withings to accelerate entry into Digital Health

Espoo, Finland – Nokia has announced plans to acquire Withings, a pioneer and leader in the connected health revolution with a family of award-winning digital health products and services to help people all over the world lead healthier, happier and more productive lives. Withings would be part of our Nokia Technologies business.

“We have said consistently that digital health was an area of strategic interest to Nokia, and we are now taking concrete action to tap the opportunity in this large and important market,” said Rajeev Suri, president & CEO of Nokia. “With this acquisition, Nokia is strengthening its position in the Internet of Things in a way that leverages the power of our trusted brand, fits with our company purpose of expanding the human possibilities of the connected world, and puts us at the heart of a very large addressable market where we can make a meaningful difference in peoples’ lives.”

World Health Organization figures show cardiovascular disease as today’s number one cause of death, with more than a billion adults around the world living with uncontrolled hypertension. Diabetes now affects more than one in twelve adults worldwide, a four-fold increase since 1980. Healthcare is expected to be one of the largest vertical markets in the Internet of Things, with analysts forecasting that mobile health, with a CAGR of 37%, will be the fastest growing health care segment from 2015-2020.

“Withings shares our vision for the future of digital health and their products are smart, well designed and already helping people live healthier lives,” said Ramzi Haidamus, president of Nokia Technologies. “Combining their award-winning products and talented people with the world-class expertise and innovation of Nokia Technologies uniquely positions us to lead the next wave of innovation in digital health.”

The combination of innovative products from Withings and the Digital Health business will also ensure the ongoing renewal of Nokia Technologies’ world class IPR portfolio.

Withings was founded by Chairman Eric Carreel and CEO Cedric Hutchings in 2009 and is headquartered in France, with approximately 200 employees across its locations in Paris, Cambridge, US and Hong Kong. Withings’ portfolio of regulated and unregulated products includes activity trackers, weighing scales, thermometers, blood pressure monitors, home and baby monitors and more, and is built on a sophisticated digital health platform, providing insights to empower people to make smarter decisions about the health and wellbeing of themselves and their families. Withings’ own products are complemented by an ecosystem of more than a hundred compatible apps.

“Since we started Withings, our passion has been in empowering people to track their lifestyle and improve their health and wellbeing,” said Cédric Hutchings, CEO of Withings. “We’re excited to join Nokia to help bring our vision of connected health to more people around the world.”

The Nokia brand continues to be recognized, valued and trusted by consumers, built on a heritage of beautifully designed, innovative and reliable technology in the service of people around the world to help real human needs.

The planned transaction values Withings at EUR 170 million and would be settled in cash and is expected to close in early Q3, 2016 subject to regulatory approvals and customary closing conditions.

Sources:

World Health Organisation: Diabetes fact sheet; Cardiovascular diseases fact sheet; Global Health Observatory data.

P&S Market Research, “Global Digital Health Market Size, Share, Development, Growth and Demand Forecast to 2020.” November 2015

About Nokia Technologies
Nokia Technologies is Nokia’s advanced technology and licensing business. Formed in 2014, TECH builds upon our solid foundation of industry-leading licensing and technology R&D capabilities. By focusing on Digital Health, Digital Media, Brand Licensing, and Patent Licensing, TECH is expanding the human possibilities of the ever-evolving world of technology. In 2015, Nokia Technologies launched OZO, the world’s first virtual reality (VR) camera designed for professionals.

About Nokia
Nokia is a global leader in the technologies that connect people and things. Powered by the innovation of Bell Labs and Nokia Technologies, the company is at the forefront of creating and licensing the technologies that are increasingly at the heart of our connected lives.

With state-of-the-art software, hardware and services for any type of network, Nokia is uniquely positioned to help communication service providers, governments, and large enterprises deliver on the promise of 5G, the Cloud and the Internet of Things. http://nokia.com

April 26, 2016 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.

MPULSE MOBILE CONTINUES GROWTH WITH $10 MILLION IN FIRST CLOSE OF SERIES A FUNDING

Critical need for proven consumer engagement strategies in healthcare drives market demand for company’s SAAS-based mobile solutions

LOS ANGELES, CA (PRWEB) – January 12, 2016

mPulse Mobile, a mobile engagement solutions provider focused on consumer health and wellness, today announced it has secured $10 million in first close of Series A funding. HLM Venture Partners led the round while pre-series A round investors OCA VenturesMerrick Ventures and Jumpstart Ventures also invested. This new funding will enable mPulse to enhance its analytics capabilities as the company builds upon its leadership position in making widespread consumer engagement in healthcare a reality.

mPulse Mobile helps many of the largest U.S.-based health plans, pharmaceutical companies and providers solve key industry challenges such as readmission reduction, elimination of gaps in care and better medication adherence through more effective patient/member engagement. This is accomplished through a mobile engagement platform that leverages insight-driven workflows to create a real-time interactive dialog with consumers across an enterprise, regardless of their medical condition. Innovations such as sentiment scoring, natural language processing and predictive analytics are utilized across various mobile channels to create successful use cases.

“HLM has a 30-year history of investing in innovative, market-leading technology for the healthcare industry,” said Yumin Choi, partner, HLM Venture Partners. “Healthcare consumers are connecting the dots between financial health and overall health, and wanting to be more active participants in their care. mPulse Mobile offers a unique combination of mobility, analytics and deep healthcare expertise that has proven to help healthcare providers and plans meet this growing demand.”

mPulse has been working with pioneers in digital health, including Inland Empire Health Plan (IEHP), a not-for-profit, rapidly growing Medi-Cal and Medicare health plan serving over 1.1 million members in California. IEHP partnered with mPulse to enable an ongoing mobile dialog with it’s members to improve engagement and health outcomes.

“Our sole focus on healthcare combined with extensive experience delivering mobile consumer solutions makes us the ideal partner for companies who need provider, plan, pharmaceutical and population health solutions,” said Chris Nicholson, CEO, mPulse Mobile. “This additional investment will enable us to further enhance our analytics and behavioral models as we create best practices across millions of mobile touchpoints to help our clients support a two-way dialog – not a monologue – to realize truly improved outcomes.”

About mPulse Mobile

mPulse Mobile offers healthcare organizations consumer-focused mobile engagement solutions that improve member and patient engagement and create administrative efficiencies. mPulse enables the leading health plans, providers and pharmaceutical companies to improve the health and wellbeing of consumers by making health care communications relevant to the modern lifestyle.

January 12, 2016 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.

TALIX, INC. SPINS OFF AS INDEPENDENT COMPANY, SECURES $14 MILLION IN FUNDING

Funding to Fuel Development and Growth of New Healthcare Risk Adjustment Applications

SAN FRANCISCO – January 11, 2016Talix, Inc., a subsidiary of Healthline Networks, today announced it will spin off as an independent company. In conjunction with Summit Partners’ announced investment in Healthline Networks’ media business, former Healthline Networks shareholders and investors will provide $14 million in funding to Talix. This capital will be used to fund the growth of the company’s core risk adjustment product, Coding InSight, and support the development of future applications in its planned suite of patient risk management products powered by Talix’s proprietary HealthData Engine.

Dean Stephens will serve as the new Chief Executive Officer for Talix. Stephens has over 25 years of experience in healthcare, including co-founding and leading Healthline Networks. “Having secured this round of funding, Talix is well positioned to further innovate and disrupt the healthcare risk adjustment space. We are excited for this new chapter and look forward to continuing to deliver value to both our growing stable of high-profile customers and our shareholders,” said Stephens.

Talix will continue to provide information technology solutions to its traditional customers while it evolves its big patient data analytics capabilities. Continuing in executive roles with Talix will be Niraj Katwala, Murray Brozinsky, and Derek Gordon. Talix investors joining the Board of Directors include Phil Dur, representing Investor Growth Capital; Richard Harroch, VantagePoint Capital Partners; Kevin Brown, Reed Elsevier Ventures; and Mike Barber, General Electric Equity.

Talix was formed as a wholly owned subsidiary of Healthline Networks in January 2015. The company launched its first SaaS application, Coding InSight, in June 2015 and signed its first customer for the product in July 2015. Since then, the application has seen increasing adoption among both healthcare provider and payer organizations.

Talix will be exhibiting and presenting at the 2016 HIMSS Conference in February and the 2016 RISE Nashville Summit in March, where it will feature product demonstrations and customer success case studies.

About Talix

Talix provides patient risk management solutions to help healthcare organizations address the challenges of value-based healthcare and risk-based contracts. Its SaaS applications leverage patient data analytics to turn structured and unstructured health data into actionable insights that drive improved risk adjustment, better patient outcomes and reduced costs. For more information, please visit www.talix.com or follow @TalixHealth on Twitter.

January 11, 2016 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.

NANTWORKS AND NANTHEALTH COMPLETE ACQUISITION OF NAVINET, AMERICA’S LEADING HEALTHCARE COLLABORATION NETWORK

Acquisition scales NantHealth’s cloud-based platform of services to deliver interoperability, connectivity, real-time decision support and a single sign-on operating system to over 450,000 active provider users and all-payer access to 450+ commercial and government plans nationally, covering almost 100 million lives and over 30 million monthly transactions

NaviNet Open will serve as a nationwide scalable, real-time access point and secure web-based portal for patients and providers to receive breaking news about novel clinical agents and to access active cancer clinical trials locally

Los Angeles, CA and Boston, MA – January 5, 2016— NantWorks, and its majority-owned subsidiary NantHealth, LLC, a cloud-based information technology provider combining genomic science and big data to transform healthcare, today announced that they have completed the acquisition of  NaviNet, Inc., the nation’s leading healthcare technology company of payer-provider collaboration solutions. The acquisition continues NantHealth’s vision of delivering on whole health systems integration and revolutionizing the patient-clinician experience by bringing real-time molecular and evidence-based insights to the point of care. NantVentures, the private equity arm of NantWorks participated in the financing. Financial terms were not disclosed.

“The acquisition of NaviNet completes our 10-year vision at NantWorks and NantHealth to integrate and coordinate our complex healthcare ecosystem from the knowledge domain, to the care delivery domain and now to the payer domain, as a single sign-on, seamless, cloud-based, secure adaptive learning system for patients, payers, and providers,” said Dr. Patrick Soon-Shiong, Founder and Chief Executive Officer of NantHealth. “NaviNet has a tremendous, long-term customer base of more than 40 health plans – Blue Cross Blue Shield payers, Aetna, Cigna, and many others – a nationwide network of more than 450,000 active end-users across all 50 states, and an All-Payer Access provider portal to 450+ commercial and government plans nationally built on NaviNet Open, the company’s payer-provider collaboration platform. This cloud-based system allows provider access to over 90% of covered lives in the United States and will serve as a transformative platform for the communication of cutting-edge knowledge to all.”

Since the launch of NaviNet Open in 2014, the company’s applications have expanded beyond classic administrative transactions such as insurance verification and claims management into the intimate administrative and clinical collaboration needed both in chronic disease management and newly reimbursable genetic and oncological strategies, with expanded provider access to 450+ commercial and government plans nationally. For example, the company’s Document Exchange service enables HIPAA-safe exchange of clinical information among multiple medical management, informatics, and care delivery teams. The system will serve as a nationwide, scalable real-time access point and secure web-based portal for patients and providers to receive breaking news information about novel clinical and immunotherapy agents, and to access active cancer clinical trials locally, in this age of next-generation genomic medicine.

Dr. Soon-Shiong added, “By combining NaviNet Open’s applications – eligibility and benefits from more than 450 commercial and government plans, referrals, authorizations, document exchange, claims management, and more – with NantHealth’s interoperability, decision support and connectivity platforms and with NantOmics supercomputer predictive modeling platforms, we are now poised to be the nation’s leading healthcare collaboration network by transforming the payer-provider relationship to evolve from transactions to interactions and finally to collaboration. Moreover, leveraging NaviNet’s nationwide network across more than 170,000 active provider offices and 2,000 hospital settings will allow us to reach more doctors with our genomics, decision support, and connectivity solutions to enable better care coordination at lower costs for patients. The combination of leading-edge genomic science and best-in-class applications, delivered through NantHealth, will be critical for winning the wars against cancer, hypertension, diabetes, and other life-threatening diseases. Our dream was to address the cognitive overload that faces clinicians today especially in the complexity of cancer, and support community oncologists as well as major academic centers. Finally, we have the infrastructure in place to make this a reality.”

“NaviNet is our most significant acquisition to date,” said Robert Watson, President of NantHealth. “The company’s large installed base of health plans and provider offices gives us the payer relationships and scale for delivering best-in-class genomics and clinical solutions directly to providers. In addition, NaviNet’s payer-provider solutions complement NantHealth’s existing NantOS clinical operating and supply chain operating system, establishing NantOS as the only integrated cloud-based population health management platform that encompasses patient, provider and payer interactions in real time. Together, we can now go to market with the industry’s most comprehensive and integrated portfolios for cancer care, population health, and wellness by deeply engaging every member of the healthcare ecosystem – payers, providers, patients, and pharma.”

“We are excited to join forces with NantHealth,” said Frank Ingari, president and chief executive officer of NaviNet. “By combining NaviNet’s scale with the power of NantHealth’s genomic and clinical information technology solutions, we will be able to jointly deliver accurate and relevant information to our network of over 170,000 provider offices. NaviNet’s fastest growing user base is the clinical team. Doctors, nurses, and care coordinators have embraced our new products such as NaviNet Open Document Exchange and All-Payer Access. NantHealth’s powerful and unique set of unique clinical solutions will accelerate this trend and put NaviNet at the heart of collaboration between clinicians in the service of the patient.”

With the acquisition of NaviNet, NantHealth adds roughly 330 new associates including an experienced management team who has previously held leadership roles at health plans, healthcare IT companies, and enterprise, cloud-based solutions providers. NantHealth also expands its worldwide presence to include new offices in Boston, Massachusetts and Belfast, Northern Ireland.

About NantHealth
NantHealth, a member of the NantWorks ecosystem of companies, is a transformational healthcare 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 physicians, patients, payers and researchers to transcend genomics into the world of proteomics and the traditional barriers of today’s healthcare system. By converging molecular science, computer science and big data technology the Nant Service Oriented Operating System (NantOS) platform empowers physicians, patients, and payers to coordinate best care, monitor outcomes and control cost in real time. This is the first operating system of its kind in healthcare that is based on supply chain principles and grid service oriented architecture and integrates the knowledge base with the delivery system and the payment system, enabling 21st century coordinated care at a lower cost. For more information please visit www.nanthealth.com and follow Dr. Soon-Shiong on Twitter @solvehealthcare.

About NantVentures
NantVentures is the private investment arm of NantWorks and California Capital.  NantVentures funds transformative ideas and technologies that enable enduring improvements in human life with a primary focus on healthcare and the life sciences, medical diagnostics, mobile technology, semi-conductors, nano-optics, artificial intelligence, cloud computing, alternative energy and scientific innovations that are on the bleeding edge of biology, chemistry, and physics.  Capital investments in private and public entities range from single digit to multimillion dollar commitments.  For more information, please contact info@NantVentures.com and see www.NantVentures.com

About NaviNet
NaviNet is America’s leading Healthcare Collaboration Network (HCN). NaviNet has long-term customer relationships with the nation’s largest health plans and a nationwide network of over 450,000 clinical and administrative professionals – representing 60% of the nation’s physicians – who have access to 450+ commercial and government payers and over 90% of covered lives in the United States.  Through NaviNet Open, our payer-provider collaboration platform, and our ecosystem of partners, we help payers and providers lower costs and boost care quality, while enhancing the provider and patient experience. For more information, please visit www.NaviNet.net and follow us @NaviNet on Twitter.

January 5, 2016 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.

Chiron Health Raises $2.3 Million Seed Round and Releases iPhone and iPad App

Austin, TX – December 15, 2015 – Chiron Health, Inc., a leading provider of HIPAA-compliant video visit telemedicine technology and reimbursement services, today announced that the company has raised a $2.3 million seed round and has released an iPhone and iPad app for patients.

“The telemedicine industry has been experiencing enormous growth over the last 12 months, and video visits are quickly becoming a mainstream form of healthcare delivery,” said Andrew O’Hara, Chiron Health’s Founder & CEO. “Chiron Health has now raised over $2 million of seed capital to bring a robust set of telemedicine tools to physician practices.”

Chiron Health has taken a fundamentally different approach to telemedicine than many of the well-known players in the space. The company has been focused on the technology needs of physician practices to enable telemedicine encounters with their existing patient base. This approach is in sharp contrast to the common model of on-demand telemedicine where patients must see healthcare providers with no prior relationship.

“We believe that telemedicine should be used as a tool to strengthen the physician-patient relationship,” said O’Hara. “While on-demand telemedicine is good for keeping patients out of the emergency department, the real promise of telemedicine will be realized when patients have easy access to their own healthcare providers.”

Chiron Health’s new patient mobile app is only one piece of this puzzle. The company is also integrating its telemedicine tools with an increasing number of electronic health record systems, including athenahealth, enabling physician practices to schedule and document video visits with no staff behavior change.

About Chiron Health, Inc.

Chiron Health is the only platform designed to get physician practices fully reimbursed for secure video visits. The company’s extensive knowledge of telemedicine regulation and reimbursement allows Chiron to guide practices through the complexities of telemedicine. The result? Guaranteed reimbursement. For more information, visit www.chironhealth.com

December 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.

CPSI to Acquire Healthland for $250 Million and Announces Expansion of Its Senior Management Team

MOBILE, Ala.–Computer Programs and Systems, Inc. (NASDAQ:CPSI), a leading provider of healthcare information solutions to rural and community hospitals, today announced that it has entered into a definitive agreement to acquire Healthland Holding Inc. and its affiliates, Healthland Inc., American HealthTech, Inc. and Rycan Technologies, Inc. The acquisition will strengthen CPSI’s position in providing healthcare information solutions in the markets it serves and will provide new growth markets for the combined company. CPSI also announced the expansion of its senior management team to lead the Company going forward.

Healthland provides electronic health records (EHR) and clinical information management solutions to over 350 hospital customers. American HealthTech is a provider of clinical and financial solutions in the post-acute care space, serving over 3,300 skilled nursing facilities. Rycan offers SaaS-based revenue cycle management workflow and automation software to over 290 hospital customers.

Transaction Highlights:

  • Strengthens CPSI’s position in providing healthcare information systems to community healthcare organizations with approximately 1,200 combined hospital customers;
  • Introduces CPSI to the post-acute care market;
  • Expands the products and capabilities of TruBridge with the addition of Rycan and its suite of revenue cycle management software products; and
  • Immediately accretive to adjusted earnings per diluted share.

The combined company is projected to have annual revenues of approximately $300 million in 2015 and more than 1,900 employees. The transaction is expected to be more than 35% accretive to CPSI’s adjusted earnings per diluted share in 2016 and more than 50% accretive in 2017. Adjusted earnings, a non-GAAP financial measure, include a cash tax benefit from the acquisition and exclude share-based compensation expense, one-time transaction costs, and acquisition-related amortization and deferred revenue adjustments.

“We are excited to welcome Healthland into CPSI’s family of healthcare IT companies,” said Boyd Douglas, president and chief executive officer of CPSI. “Healthland’s history tracks a very similar course to that of CPSI, as we both have over 30 years of experience in the healthcare IT space, and we share a strong commitment to the improvement of community healthcare. The combination of these two long-standing companies creates in CPSI a broad product portfolio across the continuum of care. Together, we will service a client base of approximately 1,200 acute care facilities and more than 3,300 post-acute care facilities, including Healthland’s American HealthTech subsidiary. As the healthcare industry transitions to value-based reimbursement, our combined solutions will connect communities, patients and providers to facilitate more effective population health management, better patient engagement, and the advancement of quality and care coordination. In addition to an expanded client and solution base, the acquisition will also create synergies in our healthcare services offerings to address the acute and post-acute care markets’ demand for improved financial and operational performance. There is no doubt that the addition of Healthland, along with American HealthTech and Rycan, will not only improve CPSI’s offerings in the healthcare IT market, but will provide our combined company with greater opportunities for growth and significantly deepen our knowledge, resources and experience base. We are confident this combination will allow us to continue to be a leading innovator with greater benefits for our customers and the communities they serve, both now and in the years to come.”

Chris Bauleke, chief executive officer of Healthland, stated, “With the ongoing transformation in community healthcare, this combination will enable us to deliver solutions faster for our clients and better scale our development investment and customer support across the many communities we serve. Delivering meaningful solutions for our customers as they prepare for the transition into value-based payment models will continue to be a priority.”

Bauleke added, “Healthland’s acquisitions of American HealthTech, a provider of EHR solutions for post-acute care facilities, in 2013, and Rycan, a revenue cycle solutions company, in April 2015, provide immediate benefits to the markets and solutions that the combined company can leverage.”

Following the acquisition, support for Healthland’s core platforms, Classic and Centriq, will remain in place. Current implementations will continue, and CPSI plans to support and invest in the Centriq platform for at least the next seven years. The Healthland Classic platform will continue to be supported for a minimum of two years, as outlined by Healthland management at their recent Connect 15 User Conference.

Transaction Summary

The contemplated total aggregate consideration to be paid by CPSI is $250 million, payable approximately 65% in cash and 35% in CPSI common stock, subject to certain adjustments at and after closing, as provided for in the merger agreement. The completion of the transaction is subject to review under The Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the satisfaction of other customary closing conditions, and is targeted to close in 2015.

To finance the transaction, CPSI will use cash available on its balance sheet, $150 million of funded debt from a new senior secured credit facility and shares of its common stock. CPSI and Regions Bank have executed a committed financing letter for the new senior secured credit facility that CPSI intends to enter into at the time of closing the transaction.

CPSI’s financial advisor in this transaction was Allen & Company LLC and Maynard, Cooper & Gale, P.C. and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to CPSI. Shearman & Sterling LLP served as legal counsel to Healthland.

CPSI’s Management Team

CPSI also announced a series of changes that expand its management team, effective immediately. David Dye, in addition to continuing to serve as chairman of the board, has assumed the new role of chief growth officer of CPSI and will be focused on driving growth in all segments of CPSI’s business. Chris Fowler, president of TruBridge, will assume the additional role of chief operating officer of CPSI and will be responsible for managing the integration of Healthland and CPSI. Matt Chambless, currently Director of Financial Reporting, is assuming the role of chief financial officer of CPSI.

“Having David Dye focus his experience, industry knowledge and leadership on growth is an exciting opportunity for our company, particularly as we add the Healthland companies to our business,” added Douglas. “Chris Fowler is a proven leader in our company and the right person to lead our operations and the integration of Healthland and CPSI, and Matt Chambless has earned the confidence of our management team and our Board.”

“I am excited about my role as chief growth officer and the opportunity to work with our team to expand our customer base and offer additional products and services in the markets we serve,” noted Dye, who like Boyd Douglas has been with CPSI for over 25 years.

CPSI also announced that Chris Bauleke has agreed to stay on as president of Healthland. Douglas added, “Having Chris as part of our team will be very valuable as we work to integrate these two businesses and position the combined company for future growth. Chris is an experienced executive and has been instrumental in positioning Healthland to compete in a dynamic and growing market. We believe that we have the right team to lead our company into the future and take advantage of the additional opportunities to serve our current customers and expand our service offering. With the addition of the Healthland companies, we also believe it is the right time to expand our senior leadership team and promote some of our younger managers.”

Conference Call

CPSI will discuss the transaction in more detail during a conference call Wednesday, November 25, 2015, at 10:30 a.m. ET. The Company will also provide a slide presentation in connection with the conference call and webcast. A 30-day online replay will be available approximately one hour following the conclusion of the live webcast. To listen to the live webcast or access the replay, visit the Company’s website, www.cpsi.com.

About Healthland

Healthland is a leading provider of integrated technology solutions to rural community and critical access hospitals. Software and services from Healthland, including electronic health records (EHRs), help customers share patient information across care settings to coordinate treatment, improve patient outcomes, and drive patient satisfaction. Healthland is the parent of Mississippi-based American HealthTech, one of the nation’s largest providers of financial and clinical technology solutions in post-acute care. Healthland is headquartered in Minneapolis, Minn., with offices in its founding rural community of Glenwood, Minn. More information is available at www.healthland.com.

About CPSI

CPSI is a leading provider of healthcare solutions for community hospitals. Founded in 1979, CPSI is the parent of two companies – Evident, LLC and TruBridge, LLC. Evident provides comprehensive EHR solutions for community hospitals. TruBridge focuses exclusively on providing business, consulting, and managed IT services to community healthcare organizations, regardless of their IT vendor. For more information, visit www.cpsi.com, www.evident.com, or www.trubridge.com.

November 25, 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.

Patient IO to Expand Care Coordination Platform with Investment from athenahealth

 Company Joins athenahealth’s “More Disruption Please” Accelerator Program 

November 10, 2015, Austin, Texas  – Patient IO, the only care coordination solution that can be integrated with virtually any healthcare software system, today announced a strategic investment by athenahealth® to expand Patient IO’s platform through athenahealth’s More Disruption Please (MDP) program. Today, healthcare organizations depend on Patient IO to coordinate care for tens of thousands of patients. athenahealth’s investment will be used to grow Patient IO’s platform and drive adoption across athenahealth’s growing network of more than 72,000 healthcare providers.

Patient IO helps healthcare organizations coordinate care and engage with patients in-between visits, enabling more efficient, personalized care management and improved patient outcomes. By providing tools that empower patients to take a more active role in their care and treatment, Patient IO has become a go-to solution for managing chronic illness, reducing readmissions and reducing unnecessary doctor visits.

“Patient IO’s API-first architecture is built for integration. Its best-in-breed technology, combined with the team’s proven track record, made this a great investment and partnership for us,” said Kyle Armbrester, athenahealth’s Chief Product Officer.  “Integrating the Patient IO platform with athenaNet® will accelerate our product roadmap and enable us to better meet our clients’ patient engagement, chronic care management, and population health needs. We’re thrilled to welcome Patient IO to the MDP portfolio.”

“Patient IO already plays a critical role in helping healthcare organizations transition into value-based care by giving them engagement tools that make patients chief players in their own care,” said Jason Bornhorst, CEO of Patient IO.  “Providers can track patient adherence in-between visits and have patient-reported outcomes piped into their existing EHR. It’s all about streamlining the process of care, and this investment helps us expand our solution across the athenahealth network.”

For patients, Patient IO’s patent-pending technology turns a care plan into simple daily tasks, making it easy for patients to follow treatment-specific instructions, securely message with their care team, and read educational content on their smartphone or desktop. Patients can also sync connected wearables and devices with Patient IO to complete tasks automatically and provide additional insights for their provider.

Patient IO has shown considerable growth since raising $1.5M in a seed round led by Mercury Fund, with participation from Techstars Ventures, RPM Ventures & Geekdom Fund. Patient IO will use this new funding to expand product development. As part of the investment, Patient IO will be joining athenahealth’s MDP Accelerator program, which recently launched its third location in Austin, TX.

About Patient IO

Patient IO is the first and only care coordination solution that can be integrated with virtually any healthcare software system, including EHRs and population health management programs. Headquartered in Austin, TX, Patient IO’s mission is to help healthcare organizations transition into value-based care by helping them coordinate care between patient visits.

To learn more, please visit: http://www.patientio.com

About athenahealth’s ‘More Disruption Please’ Program

Through the ‘More Disruption Please’ program, athenahealth is accelerating high-value innovation via the cloud, offering new services to help providers thrive in the face of industry change and pressure.  MDP partners with innovators, entrepreneurs, companies, and individuals who are passionate about disrupting established approaches in healthcare that simply aren’t working, aren’t good enough, or aren’t advancing the industry. All MDP accelerator investments receive seed funding, access to free office space, mentorship, and access to athenahealth’s growing network of 72,000 providers. To learn more about athenahealth’s MDP program and partnership opportunities please visit www.athenahealth.com/disruption.

November 10, 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.

GE Healthcare Acquires Leading Healthcare Advisory Firm, The Camden Group

BARRINGTON, Ill., November 9, 2015 — GE Healthcare (NYSE: GE) announced today it is expanding its U.S. healthcare consulting business with the acquisition of The Camden Group, one of the nation’s leading population health & strategic advisory firms. GE Healthcare Camden Group will act as the U.S. business unit of GE Healthcare’s global advisory firm, GE Healthcare Partners. GE Healthcare Camden Group will be uniquely equipped to enable U.S. healthcare organizations to navigate the transforming healthcare industry by combining The Camden Group’s visionary leadership in healthcare consulting for more than 2,000 healthcare organizations with GE Healthcare’s clinical and leadership expertise around the world.  Terms of the transaction are not being disclosed.

Today’s healthcare organizations need partners who can help design and activate solutions that deliver care effectively and efficiently amidst evolving reimbursement structures. Combining GE Healthcare Partners and The Camden Group’s capabilities will allow the firm to deliver strategic and financial consulting to healthcare organizations, as well as advisory consulting on population health management, value-based care, clinical integration and care redesign across the continuum.

“By teaming up with GE Healthcare Partners, the combined firm is one of the largest healthcare consulting firms in the U.S.,” said Daniel J. Marino, an Executive Vice President of the new GE Healthcare Camden Group. “We are positioned well to assist clients as they navigate through post-healthcare reform and transition into value-based care. As a full-service firm, GE Healthcare Camden Group has the ability to provide a broad array of advisory and implementation services delivering distinct advantages and greater impact to our clients.”

GE Healthcare Camden Group’s trusted advisors will be able to help clients transform operational productivity through unique, integrated solutions that combine expertise with complex modelling and financial analytics for powerful, outcomes-based results. The group has deep domain knowledge in hospital operations, physician practice transformation, transactions, performance improvement and change management.

Laurent Dubois, CEO of GE Healthcare Partners, said, “Health systems are seeking to deliver care and manage their organizations as effectively as possible. Bringing The Camden Group and its team of industry-recognized thought leaders and advisors into the GE family expands our breadth to support clients not only in the clinical arena, but across entire health systems.”

The acquisition builds on GE Healthcare’s broader mission to develop analytics-based solutions that deliver transformational, enterprise-wide outcomes for healthcare. Last year, GE Healthcare acquired Finnamore and Foresight Partnership to further expand its consultancy and solutions business globally.

Laura Jacobs, an Executive Vice President of the new GE Healthcare Camden Group said, “This blending of capabilities, experience, and resources creates a unique offering for the healthcare industry. We are excited to join the GE Healthcare family and provide our clients access to the analytics, change management, and activation resources that will support the organizational and clinical changes required to be successful in healthcare now and into the future.”

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About GE Healthcare

GE Healthcare provides transformational medical technologies and services to meet the demand for increased access, enhanced quality and more affordable healthcare around the world. GE Healthcare (NYSE: GE) works on things that matter – great people and technologies taking on tough challenges. From medical imaging, software & IT, patient monitoring and diagnostics to drug discovery, biopharmaceutical manufacturing technologies and performance improvement solutions GE Healthcare helps medical professionals deliver great healthcare to their patients. http://www.gehealthcare.com

As the management consulting arm of GE Healthcare, Partners is a diverse team of consultants with a passion to help leading organizations manage the interdependencies between cost, quality and access. As an activation partner for clients, Partners collaborates to design strategy, formulate improvements and achieve measureable results and outcomes – implemented to change the way care is delivered. Working side by side with clients, Partners brings together advisory services, advanced analytics, and a world-renowned approach to individual and group change acceleration. By thoroughly transferring critical tools and methods, Partners enables clients to preserve and advance improvements in the long-term. http://partners.gehealthcare.com

About The Camden Group

The Camden Group is one of the nation’s leading healthcare business advisory firms. The firm provides a broad array of healthcare consulting services to enable organizational, clinical, and operational transformation to respond to the rapidly changing healthcare environment. This includes services such as strategic and business planning; performance improvement; care model redesign and access improvement; physician compensation; mergers, acquisitions, and other transactions; physician-hospital alignment; clinical integration; payer strategy; and implementing accountable care organizations. Since its founding in 1970, The Camden Group has advised more than 2,000 health systems, medical groups, hospitals, outpatient facilities, post-acute providers, and other healthcare organizations nationwide. For more information, visit us online at www.thecamdengroup.com.

November 9, 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.