Royal Philips has signed an agreement to acquire Atlanta, GA-based Wellcentive, a provider of population health management software solutions. Financial details of the acquisition will not be disclosed.
Wellcentive and its 115 employees will become part of the Population Health Management business group within Philips. Tom Zajac, CEO of Wellcentive and an experienced healthcare industry leader, will be appointed to lead this business group.
Philips-Wellcentive Integration Plans
As part of the acquisition, Wellcentive’s population health will be integrated in the Philips HealthSuite cloud, the company’s digital enabler for the next generation of connected health solutions. One example of Philips’ existing care programs for population health management is the Intensive Ambulatory Care (eIAC) program: this combines telehealth technologies and population health management software to help care teams monitor and coach patients at home. It aims to improve patient outcomes, care team efficiency, and prevent patients from entering the hospital, where costs are significantly higher.
In population health management, Philips already offers enterprise telehealth, home monitoring, personal emergency response systems (PERS) and personal health services that address multiple groups within a population from intensive ambulatory care for high-risk patients to prevention and personal health programs for the general population.
The acquisition of Wellcentive will help complement Philips’ existing portfolio with cloud-based IT solutions to import, aggregate and analyze clinical, claims and financial data across hospital and health systems to help care providers deliver coordinated care that meets new healthcare quality requirements and reimbursement models.
“Over the past 11 years, the Wellcentive team has focused on delivering data-driven clinical, financial, and human outcomes for our customers as they provide care management for more than 30 million patients,” said Tom Zajac, CEO of Wellcentive in the press announcement. “Combining forces with Philips and its broad portfolio of health technologies and global reach will create a great foundation to accelerate growth in connected care – from healthy living and prevention, to diagnosis, treatment and home care – enabling consumers, providers and health organizations to benefit from our combined, stronger offering in population health management.”
Founded in 2005, Wellcentive’s population health management solution focuses on driving quality improvement, revenue growth, and business transformation for providers, health systems, employers, and payers transitioning to value-based care. To date, its customers has receive more than $700 million annually in value-based revenue by improving outcomes for 35 million patients, using intelligence gained from 1.5 billion customer data points each month.