Last Month in Digital Health M&A: Mar 1 - Mar 31
Last month, we have caught the following digital health M&A deals...
Verana Health acquires PYA Analytics. PYAA was founded in 2013 by scientists and engineers from nearby Oak Ridge National Laboratory, the largest multi-program science, and technology laboratory in the United States. Members of PYAA have led projects that include the linking of clinical records with images to improve early detection, the utilization of satellite images with other data sources to inform geospatial analysis, and early members of the Human Genome Project. The data scientists, engineers, and data architects joining through the acquisition will greatly diversify and expand the scope of Verana's capabilities... The PYAA team will remain in Knoxville, and Verana plans to hire and grow the office in the coming months. The company also intends to further scale its San Francisco headquarters and New York office in the coming year. ? read more.
CompuGroup Medical to acquire certain Cerner assets in Germany and Spain for 225 million EUR. The key products are medico and Soarian Integrated Care (S-IC), leading HISs in Germany; Selene, a leading HIS for public hospitals in Spain, and Soarian Health Archive, a document archiving solution for healthcare providers. As a result of the acquisition, CompuGroup Medical is strengthening its position in Germany and complementing its portfolio in Spain. The agreed purchase price amounts to EUR 225 million and is subject to final adjustment upon closing. For 2019, revenues attributable to the assets to be purchased were approximately EUR 74 million with an EBITDA of approximately EUR 13 million. Closing of the transaction is expected to occur in the third quarter of 2020. ? read more.
Wellin5 acquires Therachat, a US-based mental health startup. Therachat is a product designed to help therapists, psychologists, and mental health counselors in the US to keep their patients engaged in between therapy sessions. It provides therapists with over 40 premade and customizable homework activities. Moreover, Therachat allows individuals who don't have a therapist to use its mobile app and take advantage of the vast range of premade homework activities that are available. The acquisition is part of Wellin5's long-term expansion strategy that began in September 2019 when it named Sacramento, California its US Headquarters. ? read more.
OnShift acquires talent acquisition software provider Avesta Systems. Avesta's software, now called OnShift Employ, seamlessly manages the entire talent acquisition process from end to end, including candidate sourcing, recruitment, screening, hiring and onboarding. With OnShift Employ, healthcare providers gain a competitive edge by quickly finding qualified candidates, speeding time to hire and creating memorable candidate experiences, while simultaneously complying with hiring laws... With the Avesta acquisition, OnShift further expands its footprint in the healthcare marketplace, by now also serving organizations in the emergency medical services (EMS) segment. ? read more.
Intuitive acquires Orpheus Medical to expand informatics platform for hospitals. Orpheus develops and distributes its clinical video management and analytics platform, which hospitals use across surgical disciplines. The platform offers the ability to capture and share clinical video and imaging from many sources, which may help improve physician and OR care team workflow and enable analysis of their interventions... Orpheus will be a wholly owned subsidiary of Intuitive. Terms of the acquisition were not disclosed. ? read more.
HealthLynked to acquire Cura Health Management and its wholly owned subsidiary ACO Health Partners for $1.75M. Cura Health Management (CHM) is a well-established national service provider and ACO Health Partners (AHP) is a well-established ACO in the Florida Market with a history of managing and supporting ACOs and receiving shared savings from the Centers for Medicare and Medicaid Services (CMS). In addition to Florida, AHP includes provider participants in North Carolina, New Jersey and Indiana. ACOs seek to reduce healthcare costs and improve health outcomes for Medicare patients using technology, care coordination and care management, making it an ideal acquisition for HealthLynked. The acquisition of AHP positions HealthLynked to engage in value-based reimbursement programs offered both by CMS and commercial payers. ? read more.
symplr acquires The Patient Safety Company from Main Capital Partners. The combination of symplr and the Netherlands-based The Patient Safety Company expands the healthcare industry's leading end-to-end GRC (healthcare governance, risk and compliance) platform of scale to include patient safety and incident tracking and reporting. symplr's platform now offers an end-to-end solution encompassing provider data management, credential management, workforce management and patient safety, addressing the full spectrum of healthcare labor regulatory requirements while also improving patient outcomes and quality of service. Financial terms were not disclosed. ? read more.
Medtronic acquires surgical simulation platform Digital Surgery. Headquartered in London, England, Digital Surgery's mission is to digitize surgical protocols using cutting-edge computing and to support the delivery of consistent, data-driven and evidence-based surgical care. The acquisition will strengthen the Medtronic robotic-assisted surgery platform and has applicability for the Medtronic broader portfolio. Digital Surgery will remain headquartered in London where there are plans for continued investment and workforce expansion. The terms of the agreement are not being disclosed. ? read more.
AMSYS Group acquires HealthConnexx. The HealthConnexx RxConnexx platform is the first-to-market real-time patient data exchange platform for medication and benefits data, an essential component of value-based care and a critical on-ramp for the emergence of precision medicine. The RxConnexx platform provides access to 80% of the US population and 93% of insured patients and delivers the data to stakeholders in a secure and standardized format that can be consumed easily and efficiently. RxConnexx is available as a data-as-a-subscription model (DaaS) for health plans, managed care organizations, medication therapy management (MTM) programs, HUB Services companies, hospitals and health systems. ? read more.
PEAR Sports acquires Functional Solutions to strengthen its fitness platform and to expand to new markets. PEAR will merge Functional Solutions' technology into its enterprise SaaS solution to offer full client engagement for guests and members at gyms, in hotels and resorts, at active aging centers, and other locations. The ability to match PEAR's personalized audio coaching, symbiotic music and adaptive biometric workouts with Functional Solutions' unique content distribution technology will enhance the user experience and increase engagement. Applications for this powerful instructional coaching content are prevalent in education, medical and therapeutic clinics, corporate wellness and military training. ? read more.
Health Catalyst to acquire Able Health. San Francisco-based Able Health is a leading SaaS provider of quality and regulatory measurement tracking and reporting to healthcare providers and risk-bearing entities. By bringing a growing inventory of hundreds of out-of-the-box measures, along with a scalable and flexible measures engine, Able Health's solution automates measures reporting, a key competency of healthcare providers and risk-bearing entities' population health strategies. Health Catalyst's DOS platform will further enhance Able Health's solution by providing a world-class data sourcing and integration backbone for the measures engine, capable of ingesting data from hundreds of different data sources prevalent in healthcare today. ? read more.
Sharecare acquires Visualize Health, a value-based platform. By integrating streamlined, insights-based actions into the clinician's workflow to eliminate care gaps in individual patient journeys, Visualize Health's cloud-based technology complements Sharecare's comprehensive health and well-being platform, and ideally positions the digital health company to help payer and provider partners succeed in value-based environments. Financial terms of the deal were not disclosed. ? read more.
CentralReach acquires Thread Learning to extend its leadership position within the ABA provider market. The acquisition, when combined with CentralReach's clinical offerings which includes an upcoming Electronic Visit Verification (EVV)-compliant mobile data collection app, further solidifies the company's position in the market as the only end-to-end provider to offer a modern, intuitive, offline-capable suite of clinical solutions to deliver quality care, wherever care is delivered — in home, in clinic, and in school — all integrated directly with CentralReach's powerful practice management solutions. ? read more.
Caravan Health acquires Wellpepper. Founded more than seven years ago by two Microsoft veterans, Anne Weiler and Mike Van Snellenberg, Wellpepper's platform is used by healthcare providers to create apps and other interactive technologies to help patients understand and follow treatment plans in a variety of situations. The startup's approach, which replaces verbal instructions and stacks of paper, was proven effective in clinical research studies and adopted by a variety of providers. Financial terms weren't disclosed, but the founders described the deal as a successful exit for Wellpepper, which raised $1.5 million in funding over its lifetime. ? 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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