• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • Skip to footer

  • Opinion
  • Health IT
    • Behavioral Health
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Patient Engagement
    • Population Health Management
    • Revenue Cycle Management
    • Social Determinants of Health
  • Digital Health
    • AI
    • Blockchain
    • Precision Medicine
    • Telehealth
    • Wearables
  • Life Sciences
  • Investments
  • M&A
  • Value-based Care
    • Accountable Care (ACOs)
    • Medicare Advantage

Cedar Acquires OODA Health for $425M to Power Healthcare Financial Tech Platform

by Fred Pennic 05/13/2021 Leave a Comment

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print
Cedar Acquires OODA Health for $425M to Transform Healthare Financial Experience
Cedar Acquires OODA Health for $425M

What You Should Know:

– Cedar, a healthcare financial technology platform, today announced it has entered into a definitive agreement to acquire OODA Health, a healthcare technology company focused on improving the healthcare administrative experience with payers and providers, for $425M.

– By bringing together providers and payers onto one healthcare financial technology platform, Cedar will be the only complete solution to address the full set of challenges consumers face when paying for healthcare.

– The boards of directors of Cedar and OODA Health and the stockholders of OODA Health have approved the transaction. The transaction is expected to close this month, subject to receipt of required regulatory approvals and satisfaction of other customary closing conditions.

OODA Health Background

Founded in 2017 by a team of experienced digital health and technology executives, OODA Health is transforming the administrative experience in healthcare by enabling collaborative, real-time interactions between providers, members and payers.  With the OODA Health solution, claims adjudication will be instantaneous, and providers will be paid upon patient checkout.  Payers will assume responsibility for patient collections, guaranteeing immediate payment to the provider and relieving physicians from chasing patients for money.  Care management strategies will be based on real-time patient risk models, rather than retrospective claim reviews.  Critical interactions will occur at the point of care, rather than months after an encounter. 

Acquisition Strengthens Cedars as Comprehensive Healthcare Fin-Tech Platform

With the acquisition of OODA Health, Cedar is further positioned to lead the industry as the most comprehensive healthcare financial technology platform, already engaging with more than 300,000 consumers a day. OODA Health’s platform connects payer workflows for nearly 20 organizations, such as Blue Cross Blue Shield of Arizona, CommonSpirit Health and Blue Cross Blue Shield of Massachusetts, and Cedar currently partners with more than 35 healthcare providers across the United States, including Yale New Haven Health (YNHHS), Summit Health, Novant Health and ChristianaCare.

In addition, Cedar will focus on empowering consumers with more transparency and assurance when it comes to the financial experience in healthcare, broadening its product roadmap to prioritize features that are powered by integrations with providers and payers, as well as automation use cases that advance the consumer financial experience and healthcare affordability.

Post-Acquisition Plans

As part of the acquisition, Florian Otto will continue to serve as CEO for the combined company, and OODA Health’s Seth Cohen will become President of Cedar, in addition to joining Cedar’s board of directors. Additionally, Cedar co-founder Arel Lidow and OODA Health co-founder Anshul Amar will serve as Co-Chief Makers within the executive team. The company will be headquartered in New York City and will expand its footprint as a result of the transaction with additional offices in San Francisco and Salt Lake City. 

“Cedar’s mission has always been to transform healthcare and deliver the best possible financial experience for consumers,” said Florian Otto, CEO and co-founder of Cedar. “We’ve made great progress toward that goal, but consumers still need greater financial clarity and more affordable healthcare — and the experience with one’s provider or one’s payer is just part of the issue. Both Cedar and OODA Health are forward-thinking when it comes to putting consumers first, and we believe that by bringing our companies together, we can identify new opportunities to help consumers — as well as payers and providers — navigate an increasingly complicated healthcare system, leading to better outcomes for all parties involved.”

  • LinkedIn
  • Twitter
  • Facebook
  • Email
  • Print

Tagged With: Cedar, Healthcare Mergers & Acquisitions, OODA Health, Revenue Cycle Management

Tap Native

Get in-depth healthcare technology analysis and commentary delivered straight to your email weekly

Reader Interactions

Primary Sidebar

Subscribe to HIT Consultant

Latest insightful articles delivered straight to your inbox weekly.

Submit a Tip or Pitch

Featured Interview

Reach7 Diabetes Studios Founder Chun Yong on Reimagining Chronic Care with a Concierge Medical Model

Most-Read

HHS Finalizes HTI-4 Rule: Prior Authorization & E-Prescribing Interoperability

HHS Finalizes HTI-4 Rule: Prior Authorization & E-Prescribing Interoperability

Meaningful Use Penalties_Meaningful Use_Partial Code Free_Senators Urge CMS to Establish Clear Metrics for ICD-10 Testing

CMS Finalizes TEAM Model: A New Era of Value-Based Surgical Care

White House Event Unveils CMS Health Tech Ecosystem Initiative

White House Event Unveils CMS Health Tech Ecosystem Initiative

Digital Health Faces Q2'25 Pullback: Funding Falls to 5-Year Low, But AI Dominates and $1B+ IPOs Emerge

Healthcare Investment Shifts in 1H 2025: AI Remains a Bright Spot Amidst Fundraising Decline

Digital Health Faces Q2'25 Pullback: Funding Falls to 5-Year Low

Digital Health Faces Q2’25 Pullback: Funding Falls to 5-Year Low

Beyond the Hype: Building AI Systems in Healthcare Where Hallucinations Are Not an Option

Beyond the Hype: Building AI Systems in Healthcare Where Hallucinations Are Not an Option

Health IT Sector Navigates Policy Turbulence with Resilient M&A

Health IT’s New Chapter: IPOs Return, Resilient M&A, Valuations Rise in 1H 2025

PwC Report: US Medical Cost Trend to Remain Elevated at 8.5% in 2026

PwC Report: US Medical Cost Trend to Remain Elevated at 8.5% in 2026

Philips Launches ECG AI Marketplace, Partnering with Anumana to Enhance Cardiac Care with AI-Powered Diagnostics

Philips Launches ECG AI Marketplace, Partnering with Anumana to Enhance Cardiac Care with AI-Powered Diagnostics

WeightWatchers Emerges from Bankruptcy, Launches New Menopause Program

WeightWatchers Emerges from Bankruptcy, Launches New Menopause Program

Secondary Sidebar

Footer

Company

  • About Us
  • Advertise with Us
  • Reprints and Permissions
  • Submit An Op-Ed
  • Contact
  • Subscribe

Editorial Coverage

  • Opinion
  • Health IT
    • Care Coordination
    • EMR/EHR
    • Interoperability
    • Population Health Management
    • Revenue Cycle Management
  • Digital Health
    • Artificial Intelligence
    • Blockchain Tech
    • Precision Medicine
    • Telehealth
    • Wearables
  • Startups
  • Value-Based Care
    • Accountable Care
    • Medicare Advantage

Connect

Subscribe to HIT Consultant Media

Latest insightful articles delivered straight to your inbox weekly

Copyright © 2025. HIT Consultant Media. All Rights Reserved. Privacy Policy |