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Last Month in Digital Health M&A: January 2020

Market Watch / February 2, 2020 / Leave a Comment

During last month, we have caught the following digital health M&A deals…

Last Month in Digital Health M&AAlayaCare acquires Procura to become the world’s most trusted home and community care technology provider. A division of Complia Health, Procura is a leading global provider of enterprise software for long-term and post-acute care organizations. With nearly 200 customers, the company was founded in 1989 and has operations in Canada and Australia… The newly expanded AlayaCare platform will further enable home and community care providers to deliver even better client care and experiences, accelerate growth, and leverage data to drive improved outcomes. It will also extend AlayaCare’s market reach to include residential aged care providers, offering an even more robust solution to the Australia and New Zealand markets. • read more.

Healthgrades acquires Evariant to create an end-to-end consumer and physician engagement platform. With the combination of these two market leaders and innovators, Healthgrades will offer the most comprehensive end-to-end engagement platform in the healthcare industry, enhancing the company’s value proposition for its combined base of 2,000+ hospitals and life sciences customers… This integrated technology platform will leverage more than 30 years of experience with predictive analytics and patient communications to engage consumers at every step of the patient journey, redefining their relationships with healthcare providers in the digital age. Terms of the transaction were not disclosed. • read more.

Bright Health to expand into California by acquiring Brand New Day health plan. The transaction will combine Brand New Day’s local expertise and specialized clinical programs with Bright Health’s nationally recognized leadership, next-generation technology and intelligence platform, and innovative personalized approach to healthcare. The transaction is subject to regulatory approval and expected to close in 2020. Brand New Day’s surrent leadership, including Jeff and Jay Davis, will join the Bright Health Plan leadership team and will continue to lead local market operations, ensuring continuity for Brand New Day members and alignment across Bright Health Plan’s business. • read more.

Cloud-based healthcare IT and revenue cycle management solutions provider MTBC acquires CareCloud. CareCloud is a healthcare technology company specializing in software and services — which has been rated among the top industry solutions by Gartner, KLAS Research, and Black Book Research — to high growth independent physician practices. Founded in 2009 as a practice management software company, CareCloud subsequently evolved to serve the full spectrum of practice workflows, including revenue cycle management (RCM), practice management (PM), electronic health records (EHR), and patient experience management (PXM). CareCloud’s integrated clinical and financial platform technology and its suite of solutions enables clients to increase profitability, streamline workflow, and improve patient-care outcomes nationwide… MTBC acquired CareCloud on a cash-free, debt-free basis, with neutral working capital on January 8, 2020, through the closing of an agreement and plan of merger. • read more.

Virgin Pulse acquires Blue Mesa Health, launches digital therapeutics offering. Blue Mesa’s Diabetes Prevention Program (DPP) solution, Transform, has a proven track record of helping prediabetic employees and health plan members more effectively manage their health and achieve sustained lifestyle change. Based upon the CDC’s landmark National Diabetes Prevention Program curriculum, Transform combines software, home health monitoring and remote health coaching to guide participants through a twelve-month behavior change program. Transform has received full recognition by the CDC, signifying that the program effectively delivers a proven Type 2 diabetes prevention and lifestyle change program. • read more.

Nox Medical, FusionHealth merge to form global sleep health leader – Nox Health. Nox Medical has been working with sleep solution company FusionHealth since 2014, together helping to grow the industry’s ability to understand, diagnose and treat sleep issues using a holistic approach. With a focus on population-based sleep health solutions, FusionHealth helps employers reduce healthcare costs, prevent fatigue-related errors and improve performance, all while supporting the well-being of their employees… United as Nox Health, Nox Medical and FusionHealth serve clients across the globe, including sleep physicians, healthcare providers and Fortune 500 businesses. The company continues to operate out of Reykjavik, with additional offices in Atlanta, Georgia, and Boulder, Colorado. • read more.

SCI Solutions acquires Tonic Health. Tonic Health is a broadly deployed SaaS-based digital self-service technology platform widely used by patients to complete intake forms, check-in for appointments, self-report outcome measures and make payments. The combination of SCI’s market-leading digital engagement platform, including patient scheduling, referral management, revenue cycle workflow automation, and patient self-care management, with Tonic’s flexible automated platform, will give clients a full array of functionality to meaningfully engage patients at every step in their healthcare journey. Tonic’s client base, including Universal Health Services, New York-Presbyterian, Emory Healthcare, MedStar Health, Shriner’s Hospitals for Children, The Department of Veterans Affairs, and many more, will join SCI’s network of more than 94,000 referring providers and 1,200 rendering provider hospitals and imaging centers. Financial terms of the transaction were not disclosed. The combined company is headquartered in Seattle. • read more.

Teladoc Health to acquire InTouch Health. InTouch Health is the leading provider of enterprise telehealth solutions for hospitals and health systems. This acquisition positions Teladoc Health as the partner of choice for health systems seeking a single solution for their entire virtual care strategy, and establishes the company as the only virtual care provider covering the full range of acuity — from critical to chronic to everyday care — through a single solution across all sites of care worldwide. • read more.

Global Healthcare Exchange acquires Chicago-based Lumere. Lumere is a leading provider of evidence-based data and analytics solutions that enable healthcare organizations to build clinically integrated supply chains and optimize medication formulary management. The acquisition expands GHX’s growing portfolio of innovative solutions that help healthcare organizations run the new business of healthcare — one where payments for care delivery are increasingly tied to quality of care and efficiency. By combining the powerful assets of GHX and Lumere, GHX seeks to create the gold standard in data governance, providing a single source of trusted information for the management of devices and drugs used in the delivery of care. The Lumere acquisition also significantly extends GHX’s footprint in the pharmaceutical market, helping health systems more strategically manage the complex area of pharmacy cost. Financial terms of the deal were not disclosed. • read more.

R1 to acquire digital patient engagement solutions provider SCI Solutions for $190M in cash. SCI’s platform streamlines the patient and provider experience, creating efficient care networks where health systems’ capacity is digitally and conveniently accessible to all market constituents. With consumer self-scheduling and provider order facilitation, SCI’s EHR-agnostic patient access and care coordination solutions support more than 94,000 providers and 1,200 sites of care that comprise $225B of potential net patient revenue across the country. R1 expects to deliver enhanced value for its customers by enabling providers to expand digital front door strategies for their patients, improve operating efficiency, and increase capacity utilization, among other benefits. • read more.

Quest Diagnostics acquires Blueprint Genetics. Blueprint Genetics is a leading specialty genetic testing company with deep expertise in gene variant interpretation based on next-generation sequencing (NGS) and proprietary bioinformatics. Together, Quest and Blueprint Genetics will broaden access to actionable insights in genetic and rare diseases, improving patient care and pharmaceutical drug research and development. Financial terms of the transaction were not disclosed. • read more.

Providence acquires HMR Weight Management Services from Merck. The addition of a comprehensive weight management service to Providence’s suite of health services is the latest example of the non-profit health organization’s efforts to improve the health and well-being of patients and communities… A positive relationship between Providence and HMR has existed for several years. HMR operates clinics inside three Providence facilities, while Providence refers its caregivers to HMR for weight management support and care as part of its employee wellness program. • read more.

Brainlab acquires VisionTree to drive patient-reported outcomes. VisionTree Software is a San Diego-based company that develops cloud-based, patient-centric data collection and health management solutions. The acquisition re-emphasizes the Brainlab commitment to quantifying medical procedure outcomes by taking a closer look at patients’ quality of life and condition after treatment. Brainlab investment into integrating objective measures into critical interventions follows the trend acknowledged by payers and providers from a fee-for-service towards a fee-for-value healthcare system. • read more.

Imprivata acquires GroundControl to expand its mobile solutions. GroundControl helps regulated industries enhance their current mobile device management (MDM) to maintain the highest standards for provisioning, asset management, privacy, and security. The company’s solutions have been used to support more than 1,000,000 devices at global corporations, including hospitals, retail outlets, and airports, across 82 countries worldwide… The combination of Imprivata and GroundControl innovations will advance the proliferation of Digital Identity Authorization and Access Management solutions and services for mobile devices in healthcare. It will accelerate the development of new capabilities on fleets of enterprise mobile devices for large and small enterprises. • read more.

AMN Healthcare to acquire Stratus Video for $475. Based in Clearwater, Florida – Stratus Video has developed proprietary technologies to seamlessly provide video remote interpretation, over-the-phone interpretation and in-person interpretation. Their cutting-edge technology platform enables real-time routing of video and audio calls, drives client efficiency with an in-person scheduling mobile application and powers interoperability with multiple telehealth platforms. Stratus employs a network of more than 3,000 interpreters with an on-shore/off-shore staffing model. Stratus serves more than 1,600 clients among health systems, acute care hospitals, community health centers, federally qualified health centers, ambulatory surgery centers, and post-acute and home health providers. The acquisition, subject to regulatory approvals and customary closing conditions, is expected to close by early March 2020. • read more.

Please note that this list represents only the digital health M&A deals that caught our eye in the past month. There may be other deals we are not aware of or those which we don’t think fit the “digital health” category.

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