On November 29, TailorMed, a leading financial navigation platform that helps healthcare organizations and patients remove financial barriers to care, announced that it has acquired Vivor, a financial assistance technology platform for healthcare providers and life sciences. The financial terms of the transaction were not disclosed.
TailorMed is a healthcare technology company that was founded in 2016 with a personal mission to help patients and healthcare providers tackle the financial challenges of care delivery. TailorMed’s platform is used by over 600 healthcare facilities nationwide including leading health systems, pharmacies and clinics. It has locations in New York and Tel Aviv.
Vivor’s financial assistance platform integrates with all major electronic health records (EHR) systems and is used by more than 300 clinical sites, including Yale-New Haven Health, Advocate Aurora Health and Moffitt Cancer Center. Since its founding in 2014, Vivor customers have screened more than 600,000 patients and secured over $500 million in patient assistance.
The combination of these two powerhouses will create the largest network of provider, pharmacy and life sciences companies in the market. Joining forces will accelerate the development of innovative solutions and expand market reach to help reduce the cost of treatment for more patients while improving the financial performance of healthcare organizations. Together, the companies have secured over $1 billion in funding for patients, from over 5,000 funding programs covering more than 1,000 specific chronic conditions, such as multiple sclerosis, diabetes, COPD and cancer.
In connection with the acquisition, TailorMed has opened an office in Portland, Oregon, creating a West Coast presence that would complement TailorMed’s existing New York, New York headquarters and R&D center in Israel.
