HST Pathways (“HST”) and Casetabs, two leading providers of innovative, cloud-based software for ambulatory surgery centers (“ASCs”) across the U.S., today announced a strategic combination of their businesses that will offer customers a flexible and secure set of technology solutions and enhanced products and services. The combination is supported by a majority investment led by Bain Capital Tech Opportunities with a minority investment from Nexxus Holdings. Financial terms of the private transaction were not disclosed. The combined company will be led by seasoned executives from both HST and Casetabs, who will leverage their in-depth understanding of the ASC industry, strong client relationships, and insight into the market to align strategic goals and maximize opportunities for growth.
MultiPlan Corporation (“MultiPlan” or the “Company”) (NYSE: MPLN), a leading value-added provider of data analytics and technology-enabled end-to-end cost management solutions to the U.S. healthcare industry, today announced that it has acquired HST, an innovative healthcare technology company that enables value-based health benefit plan designs, for a purchase price of $140 million. The transaction was completed on November 9, 2020. HST’s platform uses sophisticated data analytics and tools to engage members and providers on both the front and back end of healthcare, enhancing collaboration and improving management of medical cost for all parties to a healthcare claim.
AptarGroup, Inc., a global leader in consumer dispensing, active packaging, drug delivery solutions and services, announces that it has acquired all operating assets and the proprietary portfolio of Cohero Health, Inc. (“Cohero Health”), a digital therapeutics company transforming respiratory disease management for asthma and chronic obstructive pulmonary disorder (COPD). Founded in 2013, New York-based Cohero Health develops innovative digital tools and technologies to improve respiratory care, reduce avoidable costs and optimize medication utilization. With this transaction, Aptar Pharma acquires Cohero Health’s turnkey digital health platform and device assets including their BreatheSmart® Connect digital health platform, their BreatheSmart® App, their HeroTracker® Sensors, and theirSpirometer™ and cSpirometer™lung function diagnostic sensors.
Peter Hebert and Josh DeFonzo of Menlo Park-based Lux Capital have $300 million in hand as they go hunting for healthtech companies after a successful “blank check” IPO on Tuesday. The leaders of Lux Health Tech Acquisition Corp. (NASDAQ:LUXAU) will have plenty of company in a year when over 160 other special purpose acquisition companies have raised $61 billion that they plan to use in mergers that take venture-backed businesses public. But Hebert and DeFonzo said in an interview with the Business Journal on Tuesday that they aren’t worried. The following Q&A contains excerpts of that conversation, edited for length and clarity.
WebMD Health Corp., an Internet Brands company and a leader in health information services for physicians, other healthcare professionals and consumers, today announced that it has entered into an agreement to acquire coliquio, a German-based information and education platform for healthcare professionals. The acquisition combines the core competencies of coliquio, a leading digital medical information company for German-speaking physicians with that of Medscape, WebMD’s flagship brand for healthcare professionals.
CloudMD, through its subsidiary, CloudMD Holdings Corporation (Delaware) Inc., has closed its previously announced acquisition of a majority interest in Benchmark Systems Inc. (“Benchmark”), a leading cloud-based provider of fully integrated solutions that automate healthcare workflow processes including revenue management, practice management and electronic records management. CloudMD also announces that it has closed the previously announced acquisition to acquire 100% of a U.S. based medical clinic serving chronic care patients as a part of its broader strategy for entering the U.S. market with its comprehensive suite of telehealth products.
symplr, a leading global healthcare governance, risk management, and compliance (“GRC”) software-as-a-service (“SaaS”) platform, backed by Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”) and SkyKnight Capital (together with its affiliates, “SkyKnight”), today announced that it has signed a definitive agreement to acquire TractManager (or the “Company”) from Arsenal Capital Partners (“Arsenal”). Financial terms were not disclosed. This powerful combination will deliver the healthcare industry’s most complete end-to-end GRC software and services platform. symplr’s SaaS platform will now serve as the single source of truth for provider data management, workforce management, vendor and visitor management, contract management, spend management, compliance, quality, and patient safety.
In what is becoming a trend in 2020, a third healthcare technology company plans to go public through a merger with a special purpose acquisition company (SPAC) in a blank check deal. Augmedix recently secured $25 million in private placement financing and completed a reverse merger with Malo Holdings. The deal was announced earlier this month. The combined company will rename itself Augmedix Inc. and list shares on the over-the-counter market that lists early-stage and developing companies in the U.S. and international markets. In connection with the financing, current investors Redmile Group, DCM and McKesson Ventures contributed alongside new investors.
BridgeHealth, the industry-leading provider of surgical advocacy and centers of excellence (COE) programs for large, self-insured organizations and their members, announced Thursday a merger with Transcarent, a Silicon Valley-based consumer digital health company, as part of a $40 million Series A financing round. BridgeHealth, founded in 2007, helps members identify high-quality healthcare providers, including many of the country’s leading Centers of Excellence who perform high-quality surgeries at affordable, bundled rates. Transcarent, backed by 7wireVentures, Alta Partners, and General Catalyst, offers a technology layer that provides more choice and transparency, and addresses a broader range of health and care challenges people face in today’s confusing, complex, and costly healthcare system.
Netsmart announced today the acquisition of Tellus, a Florida-based provider of Electronic Visit Verification (EVV), mobile care delivery and claims processing technology designed especially for the home health, long-term care, state and human services markets. The acquisition of Tellus demonstrates how Netsmart is committed to an evolving healthcare system, connecting providers, states and payers as well as meeting federal regulatory changes in the post-acute and human services communities. Under the 21st Century Cures Act, states are required to use EVV for personal care services by January 1, 2021, and for certified home health care services by January 1, 2023. Many states are making EVV a requirement for human services providers who offer intellectual/developmental disabilities (I/DD) and in some cases applied behavioral analysis (ABA) services.
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