To kick off the third quarter, Health Catalyst has announced its second acquisition of 2020. On July 9, the company announced it acquired healthfinch, Inc. for roughly $40 million.
healthfinch provides a workflow integration engine delivering insights and analytics into EMR workflows to automate physicians’ ability to close patient care gaps in real-time. The digital health company is most known for its platform “Charlie,” which handles routine, repeatable, and non-reimbursable “busywork” that tend to burden physicians. The company’s technology is used by more than 5,000 providers and has served 1.7 million patients
The acquisition of healthfinch gives a significant boost to Health Catalyst’s population health portfolio and electronic health record platform. Health Catalyst will integrate healthfinch’s platform to create a new product suite called EMR Embedded Insights, which will automate refills, care gaps closure, and visit planning applications for physicians.
Additionally, the healthfinch technology will augment workflows across Health Catalyst’s product portfolio, with data and insights powered by Health Catalyst’s cloud-based Data Operating System (DOS™), a healthcare-specific, open, flexible, and scalable data platform that provides customers with a single comprehensive environment to integrate and organize data.
Health Catalyst expects to fund the transaction using a mix of stock and cash. As part of the deal, Health Catalyst has also agreed to issue 796,380 shares of Health Catalyst’s common stock to the stockholders of healthfinch, according to the SEC filing related to the deal.
The deal follows Health Catalyst’s acquisition of Able Health in February 2020 for $27 million, according to DSO. Able Health provides cloud-based quality and regulatory measurement tracking and reporting products for healthcare providers and risk-bearing entities. Health Catalyst gained Able Health’s SaaS application to strengthen its existing quality and regulatory measures capabilities.