What You Should Know: - CarepathRx will acquire the University of Pittsburgh Medical Center’s pharmacy operations in a $400M deal. - The company fully integrates pharmacy operations, expands healthcare services, improves ambulatory access, minimizes clinical variation and creates new health system revenue streams. - CarepathRx serves more than 15 health systems and 600 hospitals, with more than 1,500 employees nationwide, 400 payor contracts. Already CarepathRx has treated more than
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Healthcare Private Equity | PE | M&A| News, Analysis, Insights
M&A: Central Logic Acquires Patient Care Transition Platform Ensocare
What You Should Know: - Central Logic has acquired Omaha-based Ensocare, which automates the referral process for patients from hospital to post-acute care (PAC) when they are being discharged. - This acquisition means that Central Logic’s technology solution will now expand its reach across the care continuum, from acute to post-acute care—into, through and out of the health system. This combined capability is key to increasing patient satisfaction while also increasing patient census by
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Tampa General to Launch Healthcare Innovation Venture Fund in Q1 2021
What You Should Know: - Tampa General Hospital announces its plan to launch a new healthcare innovation venture fund to improve the quality and access to care across the Tampa/St. Pete metro area in Q1 2021. - Through TGH InnoVentures, Tampa General will partner with Embarc Collective, Tampa Bay's innovation hub and education nonprofit dedicated to helping startups grow into scalable, thriving businesses. Today, Tampa General Hospital President and Chief Executive Officer John
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M&A: Anthem Reportedly in Negotiations to Acquire CareCentrix
What You Should Know: - Health insurer Anthem is in late-stage negotiations to acquire home healthcare benefits manager CareCentrix, according to PE Hub. - PE Hub reports that customer concentration issues have been a factor in negotiations; however, the deal is far from certain. - Backed by growth private equity firm Summit Partners, East Hartford, CT-based CareCentrix provides specialty benefit management services to health plans, improving quality and reducing costs in several
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Former KKR Vet Jim Momtazee Launches Healthcare Investment Firm, Patient Square Capital
What You Should Know: - Former KKR veteran Jim Momtazee announced the launch of Patient Square Capital, a partnership being purpose-built to become the preeminent investment firm in healthcare. - Patient Square will partner with best-in-class management teams whose products, services, and technologies improve health. - Prior to Patient Square, he spent over 21 years at KKR, initially joining in 1996. He helped establish the firm’s health care industry group in 2001 and
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Waystar Acquires Medicare RCM Company eSolutions at $1.3B Valuation
What You Should Know: - Revenue cycle management provider Waystar acquires eSolutions, a provider of Medicare and Multi-Payer revenue cycle management, workflow automation, and data analytics tools at a $1.3B valuation. - The acquisition will create the first unified healthcare payments platform with both commercial and government payer connectivity, resulting in greater value for providers. Waystar, a provider of healthcare payments software, today announced a definitive agreement
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Eden Health Lands $25M to Bring On-Site and Virtual Care To Employers, Commercial Real-Estate
What You Should Know: - Eden Health raises $25M to give employers and commercial real estate owners and operators the ability to offer medical care on-site, near-site, and virtually. - Eden’s membership model makes high-quality healthcare an affordable benefit for the average employer, with low to no out-of-pocket costs for their employees. - Since the first signs of the US coronavirus outbreak in early February, Eden Health has worked with Boylan Bottling, Connell, Convene,
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Analysis: July Health IT M&A Activity; Public Company Performance
– Healthcare Growth Partners’ (HGP) summary of Health IT/digital health mergers & acquisition (M&A) activity, and public company performance during the month of July 2020. While a pandemic ravages the country, technology valuations are soaring. The Nasdaq hit an all-time high during the month of July, sailing through the 10,000 mark to post YTD gains of nearly 20%, representing a 56% increase off the low water mark on March 23. More notably, the Nasdaq has outperformed
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Greenway Health Taps AWS to Develop Cloud-Based, Data Services Platform
What You Should Know: - To help meet the needs of ambulatory care practitioners in a post-COVID environment, Greenway Health, a leading health information technology, and services provider, today announced a new strategic partnership with Amazon Web Services (AWS). - Leveraging AWS cloud services, Greenway is developing a new cloud-based, data services platform, Greenway Insights, that creates new data insights and healthcare interventions to advance the breadth of Greenway’s products and
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HGP Semi-Annual Health IT Market Review: 6 Key Trends to Know
Healthcare Growth Partners, an Investment Banking and Strategic Advisory firm exclusively focused on the transformational health IT market, today announced the release of its Semi-Annual Health IT Market Review report that summarizes M&A and private equity activity across health IT, health information services, and digital health. Report Background/Methodology This edition of the report includes feedback from our survey of private equity professionals and their response to
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