Q3 M&A Activity
Prudential Financial Acquires Insurtech Startup Assurance IQ, for $2.35B
Prudential Financial acquires insurtech startup Assurance IQ for a total upfront consideration of $2.35 billion, plus an additional earnout of up to $1.15 billion in cash and equity. Assurance will add a large and rapidly growing direct-to-consumer channel to Prudential’s financial wellness businesses, significantly expanding the total addressable market of both companies.
HMS Acquires Population Health Analytics Company VitreosHealth for $36M in Cash
HMS Holdings Corp acquired VitreosHealth, the first Insights-as-a-Service delivery model for advanced population health analytics for $36M in cash. HMS is currently using VitreosHealth’s technology as the predictive analytics engine for HMS’ Elli, a risk intelligence solution that is part of the company’s integrated Population Health Management (PHM) portfolio.
Philips Acquires Patient Navigation Platform Medumo
Philips acquired Boston-based patient navigation platform Medumo for an unclosed sum. Founded in 2013, Medumo helps hospitals, surgical centers, and care teams automatically guide patients throughout their care journey.
PE Firm Warburg Pincus Acquires CareLogic Behavioral Health EHR Platform
Private equity firm Warburg Pincus acquired CareLogic behavioral health platform to accelerate product development and expand sales and marketing efforts. Qualifacts’ CareLogic Enterprise Software is a comprehensive Electronic Health Record (EHR) designed for behavioral health, mental health, & human services.
WebMD Acquires Digital Health Engagement Solution Aptus Health
WebMD acquired Aptus Health, a digital health engagement solution for health and life sciences companies. Aptus Health will continue to operate as an independent subsidiary of WebMD, as the companies build on and integrate products, platforms, and services.
Rhapsody and Corepoint Merge to Support Healthcare Interoperability Initiatives Including FHIR
Rhapsody, a Boston-based international leader in healthcare interoperability and data connectivity solutions merges with Corepoint Health, a provider of enterprise healthcare interoperability software solutions, to develop a next-generation interoperability platform and enhance data integration and connectivity for existing and future customers. The companies will continue to operate as two separate entities for the foreseeable future.
Waystar Acquires AI Firm Digitize.AI to Tackle Prior Authorizations
Bain-Capital-backed revenue cycle management company Waystar acquired Digitize.AI, an artificial intelligence firm, to enable faster and smarter prior authorizations in healthcare – one of the largest pain points for both providers and consumers. Founded in 2017 to tackle prior authorizations, Digitize.AI leverages the power of artificial intelligence and machine learning to automate prior authorizations, resulting in faster authorizations, at less cost, and with fewer denials.
Experian Acquires Care Coordination Platform MyHealthDirect
Experian acquired MyHealthDirect, a developer of digital care coordination solutions based in Nashville that optimizes scheduling and care planning for providers, payers, and consumers. The move gives Experian’s health business a strategic boost as it continues enabling clients to meet the changing demands of consumers – in particular, demands around removing complexity and increasing transparency in healthcare.
Accolade Acquires MD Insider for Machine Learning Physician Performance
Accolade, a Seattle-based leader in personalized advocacy solutions for employers acquired MD Insider, a Santa Monica, CA-based provider of machine learning-enabled physician performance transparency. Enabled by the acquisition of MD Insider, Accolade is launching a new solution called Accolade Total Care that combines data-driven physician quality insights with cost transparency to ensure members have the best health outcomes while reducing costs for them and their employers.
TrialCard Acquires Digital Medication & Adherence Platform Mango Health
TrialCard acquires digital medication management platform Mango Health to offer a best-in-class engagement and adherence solution to patients. TrialCard Incorporated provides patient affordability, medication access and adherence, and patient support connecting over 30 million patients with nearly $12B in branded drug savings to date.
DAS Health Acquires Health IT and Medical Billing Conglomerate
DAS Health, an industry leader in health IT and management acquired Milwaukee-based healthcare solutions conglomerate, including WRT Specialties, Inc., Easy PC Solutions, LLC, EasyMed Billing, LLC, and Houston-based Systech Solutions. This follows DAS’ acquisition of Houston-based Altex Business Solutions earlier this year, and three Chicago-based companies at the end of 2018.
Net Health Acquires Post-Acute Care EHR Provider Optima Healthcare Solutions
Net Health, a provider of cloud-based software solutions for specialized outpatient care acquired cloud-based post-acute care EHR provider Optima Healthcare Solutions. Optima post-acute care EHR platform supports contract therapy companies, skilled nursing and assisted living facilities, outpatient therapy clinics, home health therapy providers and hospice organizations.
Signify Health, Remedy Partners Merge to Create Market-Leading Value-Based Care Enablement
Signify Health and Remedy Partners merge to create a market-leading platform delivering value-based care enablement. Together, Signify Health and Remedy Partners both portfolio companies of New Mountain Capital LLC will leverage clinical, behavioral and social data amidst an accelerating market shift from fee-for-service toward value-based payments and arrangements based on the quality and total cost of care for a patient.
OptimizeRx Acquires Digital Therapeutics Platform RMDY Health for $16M
OptimizeRX acquires RMDY Health, a multipurpose digital therapeutics SaaS platform, for $16 million in cash and equity. The RMDY Health platform is used by pharma, payers, MedTech companies and medical associations nationwide. The acquisition adds three new client segments to OptimizeRx’s existing patient engagement platform – payers, Medtech, and medical associations – further simplifying chronic disease management and drug adherence for healthier results at lower costs.