Health Catalyst announced at the start of July 2024 that it has added Quarvis Health, Inc. to its portfolio of digital health investments.
Quarvis Health is a healthcare technology platform that virtually connects both the aging population and employees/health plan members to their health needs through AI-enabled text-based chat and voice-enabled devices. Quarvis offers a comprehensive solution to engage and navigate users to existing, underutilized benefits, reducing distress and improving behavioral health access and overall well-being. Quarvis Health was formed by the merger of HCC portfolio company Sibly, Inc. with Health4Home, LLC, d/b/a HandsFree Health, also announced in July 2024.
Health Catalyst is a data warehousing, analytics and outcomes-improvement company that helps healthcare organizations of all sizes perform the clinical, financial and operational reporting and analysis needed for population health and accountable care.
Health Catalyst participated with management and others in a preferred stock offering to finance the merger and subsequent operations. Financial terms of the deal were not disclosed.
Charles Boorady, Managing Partner of Health Catalyst commented that “Health Catalyst is pleased to participate in this financing for Quarvis Health, and looks forward to assisting in the company’s growth.”
According to data captured in the LevinPro HC database, this acquisition represents the 125th eHealth transaction of 2024. Of those transactions, 12% (15 deals) have been announced in the patient engagement specialty.
This also marks Health Catalyst’s fourth acquisition since February 2022, when the company acquired KPI Ninja, a Lincoln, Nebraska-based provider of interoperability solutions and population health analytics. In November 2023, Health Catalyst purchased Cincinnati, Ohio-based Electronic Registry Systems, which has been providing cancer registry compliance and informatics services since 1989. In June 2024, the company acquired Boston, Massachusetts-based Carevive Systems, an oncology-focused health technology company focused on understanding and improving the cancer patient experience.
