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Verscend Technologies, Inc., Completes Acquisition of Cotiviti Holdings, Inc.

The combined healthcare information technology company plans to operate privately as Cotiviti, with Dr. Emad Rizk as president and chief executive officer

ATLANTA & WALTHAM, Mass. — August 27, 2018 — Verscend Technologies, Inc. (“Verscend”), a portfolio company of Veritas Capital (“Veritas”) and a leader in data-driven healthcare solutions, has completed its acquisition of Cotiviti Holdings, Inc. (“Cotiviti”), a leading provider of payment accuracy and analytics-driven solutions focused primarily on the healthcare industry. Emad Rizk, M.D., current president and chief executive officer of Verscend, will retain these titles for the combined business. The combined private company plans to operate under the Cotiviti name.

Cotiviti will operate as a healthcare information technology company able to apply multidimensional analytic insights, deep market expertise, and high-performance services to help its clients reshape the economics of healthcare. The new Cotiviti sits at the intersection of payers’ most critical programs that affect financial performance: payment accuracy; fraud, waste, and abuse management; risk adjustment; quality improvement and reimbursement; population health management; and high-value network performance. By combining some of the most robust financial and clinical data in the industry, Cotiviti will have unique insight into the healthcare system. The company’s combined intellectual capital, data assets, client base, and subject-matter expertise extend its leadership in healthcare’s rapidly changing landscape.

“Both companies are customer-driven innovators that share a similar mission: to help our clients improve healthcare affordability, reduce waste, and identify the best path to better outcomes,” said Dr. Rizk. “With our new capabilities across payment, quality, risk, and the combination of clinical and financial data, Cotiviti will be unmatched in its ability to create differentiated value for its clients.”

The acquisition of Cotiviti is the latest by Veritas Capital, which also recently acquired GE Healthcare’s Value-Based Care Division and has made previous investments in Truven Health Analytics as well as Verscend. According to chief executive officer and managing partner Ramzi Musallam, the Verscend-Cotiviti combination is a strong fit for its investment strategy.

“A core tenet of Veritas’ investment philosophy is identifying organizations that are positioned to have transformational impact in their respective domains. We see the combination of Cotiviti and Verscend as bringing much needed precision and insight to the healthcare system,” Musallam said. “We expect that the two companies’ complementary data sets, analytical capabilities, and industry expertise will accelerate forward momentum for the new Cotiviti through smarter, faster solutions that address rising costs, eliminate waste, and speed quality improvement for the healthcare industry overall.”

Under the terms of the agreement, Cotiviti shareholders will receive merger consideration in the amount of $44.75 in cash for each share of Cotiviti common stock they hold (without interest and subject to any applicable withholding taxes or other amounts required to be withheld therefrom under applicable law). American Stock Transfer & Trust Company has been appointed as paying agent in connection with the merger and will be mailing a letter of transmittal to all Cotiviti shareholders of record within two business days. The letter of transmittal will instruct shareholders on how to surrender their shares of Cotiviti common stock in exchange for the merger consideration.

The transaction was announced on June 19, 2018, and received approval from Cotiviti shareholders on August 24, 2018. As a result of the completion of the transaction, shares of Cotiviti common stock were removed from listing on the New York Stock Exchange (“NYSE”), with trading in Cotiviti shares suspended prior to the opening of business today.

About Cotiviti

Following the Verscend-Cotiviti combination, Cotiviti will be a leading information technology and analytics company that is reshaping the economics of healthcare, helping its clients uncover new opportunities to unlock value. Cotiviti’s solutions are a critical foundation for healthcare payers in their mission to lower healthcare costs and improve quality through higher-performing payment accuracy, quality improvement, risk adjustment, and network performance management programs. The company also supports retail and life/legal industries with data management and audit services that improve business outcomes. For more information, visit www.cotiviti.com.

About Veritas Capital

Veritas is a leading private equity firm that invests in companies that provide critical products and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide, including those operating in the aerospace & defense, healthcare, technology, national security, communications, energy, and education industries. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. For more information on Veritas Capital and its current and past investments, visit www.veritascapital.com.

August 27, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

Olive (f/k/a CrossChx) Closes $32.8 Million Series D Financing

Funding led by Oak HC/FT and Ascension Ventures to enable company to accelerate product development and scale its technology to healthcare organizations nationwide

CrossChx rebrands itself as Olive to reflect commitment to building meaningful AI-enabled robotic process automation solutions for healthcare

COLUMBUS OH, July 30, 2018—Olive, the premier healthcare-focused robotic process automation and artificial intelligence company, announced today that it has raised a $32.8 million Series D round from Oak HC/FT and Ascension Ventures with participation from existing investors. The round will help the company scale its eponymous AI solution, Olive, throughout healthcare organizations nationwide and invest in new capabilities such as Pupil, its process mining tool, that will be launched at alpha sites this summer.

“Hospital operations have grown unsustainably complex as providers must adopt new technologies, workflows, and regulations with increasing frequency in order to provide best-practice care,” added John Kuelper, Investment Director at Ascension Ventures. “Olive’s cutting-edge process mining and automation technologies are enabling our firm’s health system partners to continually optimize clinical and administrative operations so caregivers can spend more of their time on patient care.”

“Olive arrives at a time when healthcare organizations are burdened with improving efficiency, reducing costs, and enhancing the patient experience,” said Sean Lane, Founder and CEO of Olive. “Olive handles repetitive, high-volume tasks, which allows employees to get back to patient care and presents healthcare organizations with value that could not otherwise be realized.”

“As the first healthcare automation solution on the market using AI to streamline repetitive tasks and workflows by working with existing systems, Olive is uniquely positioned to counteract the ever-increasing cost of healthcare and humanize the cumbersome process,” said Billy Deitch, Principal at Oak HC/FT. “We are excited to partner with Olive to deploy its innovative technology at scale.”

Billy Deitch, Principal at Oak HC/FT and John Kuelper, Investment Director at Ascension Ventures, will join the company’s board of directors.

Earlier this year, Olive divested its legacy Connect platform and related products including Connect biometrics, Queue registration kiosk, and the CrossChx Connect mobile app to DHS Group.

ABOUT OLIVE
Olive is a healthcare-specific artificial intelligence and process automation company that empowers healthcare organizations to improve efficiency and patient care while reducing costly administrative errors. Its eponymous AI solution, Olive, acts as the intelligent router between systems and data by automating repetitive, high-volume tasks and workflows, providing true interoperability. Olive has helped healthcare organizations reduce data and billing errors, eliminate denials for no coverage, improve cash collections by reducing days in A/R, and more. To learn more and receive updates, visit www.oliveai.com.

ABOUT OAK HC/FT
Founded in 2014, Oak HC/FT (http://oakhcft.com) is the premier venture growth-equity fund investing in Healthcare Information & Services (“HC”) and Financial Services Technology (“FT”). With $1.1 billion in assets under management, we are focused on driving transformation in these industries by providing entrepreneurs and companies with strategic counsel, board-level participation, business plan execution and access to our extensive network of industry leaders. Oak HC/FT is headquartered in Greenwich, CT with offices in Boston and San Francisco. Follow Oak HC/FT on Twitter, LinkedIn and Medium.

ABOUT ASCENSION VENTURES
Ascension Ventures is a strategic healthcare investment firm with four funds and more than $800 million in capital under management. The firm was launched in 2001 by Ascension, the nation’s largest Catholic and non-profit health system, and today invests on behalf of thirteen of the nation’s leading community health systems. These health system limited partners collectively operate 474 hospitals, have 578,000 employees and generate $88 billion in annual revenue. AV collaborates with these partners to identify, invest in, and support strategically aligned private companies that are transforming the healthcare industry and enhancing the experience for patients, their families, and caregivers.

July 30, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

Patientco Primed to Help More Health Systems Rethink Patient Payments with Strategic Growth Investment Led by Accel-KKR

Series B funding fuels expansion of leading patient billing and payments technology company focused on creating a smarter patient financial experience

ATLANTA & MENLO PARK, Calif.–Patientco, a next-generation patient billing and payments technology company, announced today it has raised $28 million in Series B growth capital. This investment was led by Accel-KKR with participation from existing investor BlueCross BlueShield Venture Partners / Sandbox Advantage Fund. The capital will be used to accelerate Patientco’s growth in the $5B+ patient payments market, expand sales and marketing throughout the U.S., and fuel continued product innovation within the company’s industry-leading patient billing and payments platform.

“We are solving for an unprecedented affordability crisis in healthcare,” said Bird Blitch, co-founder and CEO of Patientco. “Health systems have an opportunity to create a superior patient financial experience by leveraging smarter technology which turns patient payments into an economic growth engine. We are excited to partner with Accel-KKR to continue our growth and help more health systems solve this complex challenge.”

Accel-KKR’s investment follows a string of successful milestones for Patientco including: reaching 10 million unique patient users, crossing $1B in payments processed, and serving more than 2,000 healthcare locations across the U.S. with its patient billing and payments technology. Patientco continues to bring together the best in FinTech and healthcare technology to create a superior patient financial experience and deliver significant financial outcomes for its health system clients.

“Patientco has a differentiated approach to the patient payments problem in healthcare, leveraging its end-to-end platform to make every patient financial engagement better than the last. We believe Patientco will make a lasting positive impact on healthcare, both for patients and health systems on the Patientco platform,” remarked David Cusimano, Principal at Accel-KKR. “No other payments company in the market offers a seamless patient experience while being able to handle the volume that comes from large health systems. We are very excited to be a part of this next stage of Patientco’s success,” added Greg Williams, Managing Director at Accel-KKR.

“Patientco has been a tremendous growth story,” said Tom Hawes, M.D. Managing Director at Sandbox Industries, on behalf of BlueCross BlueShield Venture Partners. “The management team continues to execute on a compelling strategy which creates differentiated outcomes for health systems alongside 95% positive patient feedback on their payment experience. We are pleased to have Accel-KKR join the Patientco family.”

About Accel-KKR

Accel-KKR is a technology-focused investment firm with $4.3 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London.

About BlueCross BlueShield Venture Partners

BlueCross BlueShield Venture Partners, L.P. is a corporate venture fund licensed by the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield companies. The fund invests in promising emerging companies of strategic relevance to Blue Cross and Blue Shield companies. Sandbox Industries is the exclusive provider of investment management services to BlueCross BlueShield Venture Partners. For more information, visit www.bcbsvp.com.

About Patientco

Patientco is a payment technology company founded specifically to re-think the patient payment experience in healthcare by bringing together intuitive consumer payment tools and world-class payment infrastructure backed by data-led design to create a superior patient billing experience and deliver more payments to health systems. Patientco is a proud cohort of the Backed By ATL initiative from the Metro Atlanta Chamber and alumni of Georgia Tech’s Advanced Technology Development Center (ATDC) incubator program. Patientco is making healthcare better one payment at a time. Visit Patientco online at Patientco.com.

July 25, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

Health Catalyst Acquires Medicity, Extending Its Leadership as the Data Platform for Healthcare

SALT LAKE CITY, July 11, 2018 – Health Catalyst, a leader in next-generation data, analytics,  and decision support, today announced completion of its acquisition of Medicity, one of the nation’s largest population health management companies with solutions for health information exchange (HIE), business intelligence, and provider and patient engagement.

Medicity adds to the Health Catalyst customer base more than 100 clients including 21 state and regional HIEs, large employers, health plans, 75 health systems encompassing over 1,000 hospitals and more than 185,000 providers in physician groups and extended care facilities, in support of over 75 million patients. The combined company is positioned to solve many of the most pressing problems of large healthcare delivery networks as they seek to improve the quality and lower the cost of patient care across communities.

“The future of healthcare will rely on the broad and more effective use of data to improve quality and costs, and with this acquisition, Health Catalyst can combine its expertise in data, analytics and decision support, including a data asset of over 100 million patients, with the expertise of Medicity in data exchange across the continuum of care,” said Dan Burton, CEO of Health Catalyst. “Medicity’s experienced team, extensive client roster, expansive data sets, and significant transactional capabilities are a compelling complement to Health Catalyst’s team, capabilities and offerings. Together, we’re well positioned to scale and to offer solutions designed to help our clients apply data-driven insights in a value-based care environment.”

The acquisition combines Medicity’s deep clinical dataset of over 75 million patients and significant transactional capabilities with Health Catalyst’s Data Operating System (DOS™) including AI-driven analytics and business intelligence, and a broad set of financial, cost, patient outcomes, and supply chain data from over 400 hospitals, 4,000 clinics and a data set of over 100 million patients nationwide. The unique combination will empower connected communities with the insights required to improve healthcare outcomes, control costs, and advance population health management.

“The combination of Medicity with Health Catalyst represents the best of both worlds – the transactional capabilities that our customers have been asking for, along with the analytics that Medicity’s customers have sought, delivered now from one company,” said Health Catalyst President Brent Dover, who was president of Medicity before joining Health Catalyst in 2013. “We share complementary technologies, a home base in Salt Lake City, a culture of innovation, and a commitment to improving healthcare. We believe customers of both companies will benefit.”

The integration of Medicity significantly expands the capabilities of the Health Catalyst Data Operating System, which will now have the unique ability to receive and analyze data in real time, and then embed the resulting insights into the workflow of virtually every Electronic Health Record (EHR) on the market today. The combined companies will also have a compelling solution for, and expertise in, the loosely affiliated community ambulatory care management space. These organizations, primarily independent physician groups, are in dire need of a simple means of integrating data between EHRs at the patient encounter level, with enough clinical quality analytics to meet the legal requirements of a Clinically Integrated Network.

“Adding Medicity’s data skills and technology, particularly in physician-led value-based care networks, is a great complement to our solutions,” said Dale Sanders, Health Catalyst’s president of technology. “Both customer bases will benefit from this acquisition. Medicity is very skilled at delivering a high volume of data exchange transactions with high availability. Health Catalyst excels at the bulk movement, curation, and analysis of data, while Medicity has complementary data content that will enhance the precision of our AI algorithms. They have great technology for interacting with literally every EHR under the sun, which will enhance our ability to embed analytics and decision support at the point of care, regardless of who the EHR vendor is.”

Sanders added, “I’ve always been intrigued by the analytics of HIE data traffic; not the data content but rather the network analysis of message types, destinations, and the timing of those messages. We plan on combining that metadata analysis with our data content analysis for new insights into population health, referral patterns, and patient outcomes in a region.  For the promise it offers, I believe this is a good acquisition for the industry.”

About Health Catalyst

Health Catalyst is a next-generation data, analytics, and decision-support company, committed to being a catalyst for massive, sustained improvements in healthcare outcomes. We are the leaders in a new era of advanced predictive analytics for population health and value-based care with a suite of machine learning-driven solutions, decades of outcomes improvement expertise, and an unparalleled ability to unleash and integrate data from across the healthcare ecosystem. Our Health Catalyst Data Operating System (DOS™)—a next-generation data warehouse and application development platform powered by data from more than 100 million patients, and encompassing over 1 trillion facts—helps improve quality, add efficiency and lower costs for organizations ranging from the largest US health system to forward-thinking physician practices. Our technology and professional services can help you keep patients engaged and healthy in their homes, communities, and workplaces, and we can help you optimize care delivery to those patients when it becomes necessary. We are grateful to be recognized by Fortune, Gallup, Glassdoor, Modern Healthcare and a host of others as a Best Place to Work in technology and healthcare. Visit www.healthcatalyst.com, and follow us on TwitterLinkedIn and Facebook. 

July 11, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

Hg Invests in Orion Health Rhapsody and Population Health Businesses

BOSTON, Massachusetts – 6 July 2018 – Orion Health Group Limited (NZX:OHE/ASX:OHE) announced that it has reached an agreement in relation to Orion Health’s Rhapsody and Population Health businesses with Hg, a specialist technology investor committed to helping build global businesses with funds of c.£10 billion under management.

The agreement is for entities managed by Hg to acquire majority ownership of Orion Health’s Rhapsody business and to invest in Orion Health’s Population Health business.

Healthcare technology is a core investment area for Hg, having recently completed a number of transactions across the sector. This investment will be made from Hg’s Mercury 2 Fund.

Orion Health built the first Rhapsody integration engine in the late-1990s quickly becoming one of the most recognized interoperability platforms for healthcare organizations today. The combination of Rhapsody’s global team and Hg’s resources will extend Rhapsody as a leader in the interoperability platform space, building on both Rhapsody’s world class technology and highly rated customer service.

Philippe Houssiau, an experienced global technology executive, will step in to lead the Rhapsody business. Philippe has broad experience in leading healthcare businesses, consulting and start-ups, and is formerly CEO of Agfa Healthcare, CEO of Alliance Medical and a Senior Partner with PwC.

“This investment provides Orion Health with a tremendous opportunity to deliver on our vision for customers, our people and for the healthcare sector,” said Ian McCrae, Founder and CEO, Orion Health. “The Board and I believe that Hg is the right partner to accelerate the expansion of Rhapsody and support our vision for our Population Health business.”

“Hg has been researching the theme of interoperability and population health management in healthcare IT over many years,” said David Issott, Partner, Hg. “We believe this is a key global growth theme backed by substantial market funding and resources. Rhapsody provides fantastic products and services for this market and we look forward to partnering with the team at Rhapsody to maximize its potential across the globe. We are also excited to work with Ian and the team to realize the full potential of the Population Health business.”

“Rhapsody is a high-quality business with strong underlying fundamentals and a solid pipeline of new business,” said Philippe Houssiau, CEO Rhapsody. “We believe that the current healthcare market dynamic, with increasing requirement for ‘data liquidity’, presents Rhapsody with a real opportunity for further growth and a solid base for sustained performance. With a focused leadership team and the investment provided by Hg, Rhapsody will be able to leverage its core markets whilst expanding into selected and emerging segments.”

Full details of the transaction can be found in a Market Release on the investor page of Orion Health’s website here. Summary:

–          Hg will acquire Rhapsody for NZ$205 million funded by debt and equity arranged by Hg. Orion Health will then utilize circa NZ$28 million of the transaction proceeds to acquire an ongoing 24.9% shareholding in the Rhapsody business.

–          Hg will also acquire a 24.9% stake in Population Health by investing circa NZ$20 million in that business. Orion Health will invest around NZ$12 million of the Rhapsody transaction proceeds in Population Health based on an agreed enterprise value of NZ$50 million (on a cash free and debt free basis) together with NZ$30 million of net cash to fund ongoing operations.

–          Orion Health will continue to own 100% of its Hospitals business.

–          Following completion of the Hg Transaction, Orion Health will undertake a share buyback offer at an estimated price range of $1.24-$1.29 per share, with the final offer price dependent on Orion Health’s available cash immediately following completion taking into account transaction costs and working capital adjustments in relation to the Rhapsody transaction. Shareholders will have the option to accept the share buyback offer in respect of all or a specified proportion of their Orion Health shares.

–          The bottom of the estimated buy back price range represents a premium of 46% to the closing price per Orion Health share of $0.85 on 2 July 2018 and 55% to the volume weighted average trading price over the last 20 trading days.

The injection of capital will provide investment for Orion Health to build leading global technology for the healthcare sector.

“As the healthcare sector evolves, so too has Orion Health. We believe the biggest advances in healthcare technology will come from a range of capabilities including advanced analytics and better data flow to address critical issues within the sector. In the face of growing and aging populations and the rise of chronic diseases, health systems the world over are under enormous strain. Our Population Health and Hospitals solutions are focused on helping healthcare organizations turn data into insights and clinical action and allow them to use this knowledge to optimize budgets and provide targeted patient care.

“This injection of capital will advance Orion Health’s businesses to reach their full potential over time. For our Population Health business, it will help strengthen our position as a market leader, and for our Hospitals business, it will further support its growth,” said McCrae.

The transaction is subject to a number of conditions, including regulatory approval and the share buyback offer by Orion Health’s shareholders. A notice of meeting describing the Hg Transaction and the share buyback offer will be circulated to shareholders. The independent directors have also commissioned an independent report from KordaMentha.

“This transaction is an important stepping stone in Orion Health’s efforts to build a solid and competitive business and provides our shareholders with choice in relation to their investment,” said Andrew Ferrier, Chairman of the Board, Orion Health. “We believe that providing shareholders both the option to cash-out at a substantial premium to the current trading price and the opportunity to elect to maintain an ongoing investment in Orion Health, including its 24.9% stake in Rhapsody and 75.1% stake in Population Health, is in the best interests of shareholders. This transaction has strong support from Orion Health’s Board and major shareholders.”

About Orion Health
Orion Health (NZX:OHE/ASX:OHE) is a health technology company that provides solutions which enable healthcare to over 110 million patients globally. Its open technology platform, Orion Health Amadeus, seamlessly integrates all forms of relevant data to enable population and personalized healthcare around the world. The company is committed to continual innovation to cement its position at the forefront of precision medicine. For more information visit www.orionhealth.com.

About Hg
Hg is a sector expert investor, committed to helping build ambitious businesses across the technology, services and industrial technology space, primarily in Europe. Deeply resourced sector teams focus on specific sub-sectors and investment themes to identify companies occupying an established position within a niche, and which have the potential to grow faster than their market, create employment and become the leader in their industry. Hg’s dedicated operations innovation team provides practical support to management teams to help them realise their growth ambitions. Based in London and Munich, Hg has funds under management of c. £10 billion serving some of the world’s leading institutional and private investors. For further details, please see www.hgcapital.com

July 9, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

Inspirata Acquires Health Analytics Company, Caradigm; Plans to Use its Award-Winning Platform to Accelerate Development of its Cancer Information Data Trust

Inspirata will continue to evolve Caradigm’s population health management solutions and support existing customers, and has aggressive plans to create new customers in this space.

Redmond, WA, June 13, 2018 (GLOBE NEWSWIRE) — Cancer informatics and digital pathology workflow solution provider Inspirata®, Inc. announced today that it has acquired Redmond, WA-based Caradigm from GE Healthcare.

The company’s award-winning Caradigm Intelligence Platform (CIP) and population health management software portfolio spans data control; healthcare analytics; and care coordination and engagement across the entire healthcare enterprise, including large integrated delivery networks, accountable care organizations, clinically integrated networks, academic medical centers and community hospital networks.

“Caradigm has built a highly regarded, industry-proven big data health analytics platform,” says Inspirata CEO Satish Sanan. “Our goal is to leverage the core strengths of this platform to accelerate our Cancer Information Data Trust (CIDT) development. The CIDT will address key trends in oncology care providing important new insights for clinicians, researchers, drug discovery and cancer center operations. In addition to this, Caradigm’s strong population health product set and experienced team will have Inspirata’s specialized focus and attention to promote long-term sustainability, growth and innovation as we redouble our focus on delivering superior value to all customers.”

“We are confident that Inspirata will be able to provide the intense focus and vision needed for growth through key investments in technology, infrastructure and people to energize the Caradigm software portfolio to better enable us to serve customers’ evolving needs,” says Caradigm President and CEO Neal Singh. “The healthcare ecosystem is in dire need of change. With Inspirata, Caradigm can bring that change for providers and advance the health of the patients they serve.”

Caradigm provides an open and a flexible platform that builds a data foundation to meet the evolving demands of a dynamic healthcare environment. Caradigm Intelligence Platform aggregates data across clinical, social, operational and financial sources from disparate source systems – electronic health records, billing systems, payers, claims, pharmacy systems, labs and HIEs, coupled with the need for timely information at the point of care to address a longstanding challenge for healthcare organizations. Caradigm also provides a suite of applications for improving the patient experience of care, improving the health of populations and reducing the per capita cost of healthcare. Caradigm population health solutions enable providers to deliver the appropriate care to patients through effective coordination and patient engagement, improving outcomes and financial results.

About Inspirata, Inc.

Inspirata®, Inc. provides oncology diagnostics workflow solutions that span digital pathology; diagnostic and predictive assays; and precision medicine. It also offers cancer informatics workflows that, in combination with its natural language processing and artificial intelligence algorithms structures unstructured case files and clinician notes to provide key insights for clinical and operational activities as well as cancer reporting. Inspirata’s flagship solution is its Cancer Information Data Trust (CIDT) that generates a longitudinal view of oncology patients—from diagnosis, through treatments and therapies, to outcomes. The CIDT has extensive applications in clinical decision support, research, education, drug discovery and clinical trials enrollment. Its use will extend to physicians, patients, researchers, pharma and others. For more information, please visit www.inspirata.com or contact info@inspirata.com.

About Caradigm

Until its acquisition by Inspirata today, Caradigm was a GE Healthcare Company offering intelligent healthcare analytics and population health management solutions. Caradigm is dedicated to improving patient care, advancing the health of populations and reducing healthcare costs. Its enterprise software portfolio encompasses all capabilities critical to delivering effective population health management, including data control; healthcare analytics; and care coordination and engagement. Caradigm’s customers include large integrated delivery networks, accountable care organizations, clinically integrated networks, academic medical centers, and community hospital networks. Based in Redmond, WA, Caradigm received the Frost & Sullivan 2017 North American Health IT Value-Based Care Management Product Leadership Award. For more information, visit our website.

June 13, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

Kyruus Raises $10 Million to Fuel Continued Growth

Patient Access Leader Investing in Product Innovation & Partnerships to Meet Fast-Growing Demand

Boston, MA – Kyruus, a leader in provider search and scheduling solutions for health systems, today announced that it has raised $10 million in new financing in a strategic round. The new financing comes on the heels of a year of unprecedented growth in which the company doubled its revenue and increased the number of hospitals on its platform by 50%. Kyruus will primarily use the investment to grow its product development and delivery teams to support the expansion of its platform, integrations with additional leading players in the digital health ecosystem, and ongoing customer success.

Health systems across the country are putting a heavy focus on the “front doors” of their organizations – online and offline access points that set the tone for the patient’s entire experience with the health system. Already offering the only enterprise-wide patient access solution on the market, this latest financing round will enable Kyruus to deepen its product capabilities and further support its customers’ patient access strategies beyond the traditional walls of a health system. In addition, it will facilitate Kyruus’ growing partnerships with industry leaders offering complementary solutions to support health systems’ access initiatives. Building on its partnership with Salesforce last year, Kyruus announced a collaboration with IBM Watson last month and its membership in the Epic App Orchard earlier this year.

Kyruus counts many of the leading health systems in the US among its customer base, which now includes more than 400 hospitals. In the past year alone, major new customer announcements included Piedmont HealthcareJefferson Health, and University of Miami Health System. Its customers are increasingly deploying the company’s solutions at multiple access points as well. Last month Kyruus announced a major expansion with Partners HealthCare that involved the health system not only expanding to use both Kyruus’ consumer and access center solutions, but also deploying ProviderMatch across its network.

Providence St. Joseph Health (through its venture capital fund, Providence Ventures) is one of two health systems that have invested in Kyruus.“At a time when there are so many solutions trying to address a piece of the access puzzle, Kyruus offers a truly foundational platform,” said Aaron Martin, EVP & Chief Digital Officer at Providence St. Joseph Health and Managing General Partner, Providence Ventures. “As a customer and investor, it’s been great to be part of Kyruus’ growth and we look forward to partnering with them as they continue to pave the way in helping more people in our communities access our care.”

“We’re excited to cap off a momentous year for the company with new funding to support our next phase of growth,“ said Graham Gardner, CEO of Kyruus. “With patient access a growing strategic priority for health systems nationwide, we are now poised to extend both our platform and partner ecosystem to keep our customers ahead of the curve.”

Kyruus is financed by some of the leading venture capital firms, technology companies, and health systems in the US. This includes Venrock, Highland Capital, New Leaf Venture Partners, Leerink Transformation Partners, F-Prime Capital Partners, Fidelity Biosciences, McKesson Ventures, Lux Capital, and Providence Ventures. The company is currently headquartered in the Back Bay area of Boston, but will be moving to a new office in the Seaport area this summer to accommodate growth in its employee base.

About Kyruus

Kyruus delivers proven provider search and scheduling solutions that help hospitals and health systems match patients with the providers best suited to care for them. The ProviderMatch suite of solutions—for consumers, access centers, and referral networks—enables a consistent patient experience across multiple points of access, while aligning provider supply with patient demand. The company’s proprietary provider data management platform forms the foundation of its solutions, powering them with accurate data by coupling data processing with administrative applications. To find out why a Better Match Means Better Care, please visit www.kyruus.com

April 18, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

HGS Acquires AxisPoint Health

Acquisition to Strengthen HGS’ Healthcare Portfolio with new Capabilities in Clinical Services Segment

Westminster – Colorado, US, April 3, 2018: Hinduja Global Solutions Limited (HGS) (Listed on NSE & BSE, India), has announced that its subsidiary, HGS Population Health LLC, USA, has acquired CMH Services Subsidiary LLC, USA, operating under the trade name of AxisPoint Health, a leading population health management company.

AxisPoint Health offers industry-leading care management, nurse advice line and analytics services, including CarePointGuidePoint and Analytix. The company has around 400 employees including over 280 US registered nurses in the US providing condition and case management programs, a 24/7 nurse advice line, and powerful tools for member identification, stratification and reporting. HGS gains access to over 20 new clients across leading commercial plans, Blues plans and state Medicaid programs.

“The acquisition of AxisPoint Health adds a strategic capability to our healthcare portfolio by strengthening our presence in the clinical services segment, and specifically in the population health management space. Combined with our existing services, we see a huge opportunity to cross-sell solutions to the payer industry,” said Partha DeSarkar, Chief Executive Officer, HGS.

The newly-added portfolio of services opens up addressable market opportunities and provides a more robust value proposition to customers.

Ramesh Gopalan, President – Global Healthcare and Head of India Business, HGS said, “The population health management segment is an attractive market, with healthcare payers looking to simplify and personalize the care experience while reducing costs and improving health outcomes. HGS already has a significant presence in the US healthcare market, and we see a lot of synergies with AxisPoint Health’s portfolio of services.”

HGS’ acquisition of, and new investment in, AxisPoint Health’s services will allow the latter to further strengthen its offerings.

“With the support of a global powerhouse behind us, we’ll have the resources we need to continue to provide our clients with the best, most innovative and most efficient solutions that empower members to make the right choices for their health,” said Christopher A. Long, Chief Executive Officer of AxisPoint Health. “We are excited about the opportunities ahead and remain committed to working closely with our clients to meet their specific business needs.”

About Hinduja Global Solutions (HGS):

A global leader in business process management (BPM) and optimizing the customer experience lifecycle, HGS is helping make its clients more competitive every day. HGS combines technology-powered services in automation, analytics and digital with domain expertise focusing on back office processing, contact centers and HRO solutions to deliver transformational impact to clients. Part of the multi-billion dollar conglomerate Hinduja Group, HGS takes a true “globally local” approach, with over 46,000 employees across 69 delivery centers in seven countries making a difference to some of the world’s leading brands across nine key verticals. For the year ended 31st March 2017, HGS had revenues of Rs. 3,711 crore (US$ 555 million).

Log in to https://www.teamhgs.com/  to know how we can help make you more competitive.

About AxisPoint Health:

AxisPoint Health is a population health management company that combines innovative technology with outstanding care management services to reduce costs, improve outcomes and boost consumer satisfaction – the Triple Aim of healthcare. We make a difference in people’s lives by effectively engaging them to improve their health. Our expert care teams leverage predictive analytics, innovative condition and case management programs, and consumer engagement technology to guide, impact and personalize the care experience. We believe that consumers are people, not just conditions. For more information visit www.axispointhealth.com.

April 3, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

BioIQ Raises $26.5M to Transform Value-Based Care Delivery for Payers, Providers and Consumers

Proceeds will fuel growth, innovation and transformation of healthcare delivery

ATLANTA — March 22, 2018 — BioIQ, a healthcare technology company driving the shift to value-based care, announced today it has raised $26.5M. The financing was led by HealthQuest Capital, with Arboretum Ventures and select insiders joining the syndicate. BioIQ will use the funding to fuel continued growth and support its mission to help transform the U.S. healthcare system and impact more than 100 million lives.

“BioIQ is committed to helping all people understand their health risks and connect to personalized interventions. Our intelligent technology fundamentally changes how individuals navigate the national healthcare system, resulting in greater convenience, improved access, higher quality outcomes and reduced costs,” said Justin Bellante, CEO, BioIQ. “This capital gives us additional resources to strengthen and expand the value of our solutions to clients, further helping them drive the shift to value-based care.”

BioIQ works with some of the largest health plans, employers and health service providers in the nation, as well as a network of retail pharmacies, laboratories and accountable care organizations. These partnerships facilitate consumer navigation and the secure exchange of healthcare data — all part of a streamlined, simplified approach to care gap closure and preventive health testing. Since its inception in 2005, BioIQ has launched thousands of successful programs serving millions of participants.

Said Todd Creech, Partner at HealthQuest Capital, “We look forward to working with the BioIQ team and helping them achieve a new level of growth and success as they deliver quality care solutions for payers, providers and patients.”

With this capital investment, BioIQ will continue to expand its reach into new markets and accelerate product growth and innovation. The company’s dramatic growth has been driven by increased demand among health plans and employer organizations including four of the five largest health plans in the U.S. and many of the leading Fortune 100 companies.

Paul McCreadie, Managing Director at Arboretum Ventures added, “BioIQ has developed a unique solution to driving meaningful patient engagement across health system and provider clients to deliver better health outcomes at lower cost. We’re excited to be partners in this exciting opportunity.”

With this investment, Todd Creech and Paul McCreadie have joined BioIQ’s board of directors.  Stifel acted as exclusive financial advisor to BioIQ for the financing.

About HealthQuest Capital
HealthQuest Capital makes early growth investments in innovative commercial-stage healthcare companies that are improving both patient outcomes and healthcare economics. Investments focus on medical products, diagnostics, healthcare IT and technology-enabled healthcare services. The HealthQuest investing team includes deep operational, clinical and scientific expertise and worldwide relationships throughout the healthcare industry that can be leveraged to add value to its portfolio companies. HealthQuest Capital is headquartered in Belmont, California with west coast and east coast offices. Learn more at www.healthquestcapital.com.

About Arboretum Ventures
Arboretum Ventures is a venture capital firm specializing in the healthcare sector. Founded in 2002, the firm manages $450 million across four investment funds. The investment team targets capital efficient companies that can meaningfully reduce healthcare costs and improve efficiency in focus areas of medical devices, diagnostics, healthcare IT and healthcare services. Arboretum is headquartered in Ann Arbor, Michigan. More information is available at www.arboretumvc.com.

About BioIQ
BioIQ simplifies health testing for health plans, employers and enterprises of all sizes and empowers people to take action to improve their health.  The BioIQ Platform provides tools for orchestrating health testing programs and biometric screening events across multiple vendors, as well as multi-channel communication tools for engaging and motivating participants at every step of the way.  BioIQ also provides a means to intervene when risks for chronic conditions are found — with a unified solution for keeping at-risk populations up-to-date with health testing, along with data analysis for managing risks and resources to help people live their healthiest lives. Since 2005, BioIQ has launched thousands of successful health testing programs serving millions of participants.

March 22, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.

Hyland to Acquire OneContent Business from Allscripts

CLEVELAND – February 15, 2018 – Hyland has signed a definitive agreement to acquire the OneContent business from Allscripts, a leading provider of healthcare information technology solutions. The deal is expected to close in the second quarter, once customary closing conditions are satisfied. Upon transaction close, the OneContent client base and associates will transition to Hyland.

Recently acquired by Allscripts from McKesson, more than 300 customers rely on OneContent for their healthcare content management needs. Hyland plans to continue to support OneContent customers’ current solutions while enhancing the platform with new features and functionality, refining the integration with Allscripts’ Paragon EHR system and leveraging the complementary capabilities of the Hyland Healthcare suite. Hyland plans to partner closely with Allscripts in these efforts.

“The addition of OneContent customers and employees is extremely complementary to the core focus of the Hyland Healthcare business,” said Bill Priemer, president and CEO at Hyland. “Based on Hyland’s experience helping more than 2,000 healthcare organizations manage patient content over the past 16 years, we are well prepared to serve the needs of OneContent customers and eager to help them reach their goals.”

Hyland Healthcare combines information management and enterprise medical imaging with business process and case management capabilities, delivering a suite of unparalleled content and image management solutions to address the clinical, financial and operational needs of healthcare organizations around the world. The Hyland Healthcare suite of products – comprised of Acuo by HylandPACSgearNilReadBrainware by HylandOnBase by Hyland, Perceptive Content and ShareBase by Hyland – are leveraged to complete patient records, eliminate reimbursement delays and enhance business processes. For more information, please visit Hyland.com/Healthcare.

About Hyland

Hyland is a leader in providing software solutions for managing content, processes and cases for organizations across the globe. For over 25 years, Hyland has enabled more than 19,000 organizations to digitalize their workplaces and fundamentally transform their operations. Named one of Fortune’s Best Companies to Work For® since 2014, Hyland is widely known as both a great company to work for and a great company to do business with. For more information, please visit Hyland.com.

February 15, 2018 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 5 blogs containing over 11,000 articles with John having written over 5500 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 18 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.