Commure, Inc., a portfolio company of private equity firm General Catalyst, and Athelas announced on October 4 that they have entered into a definitive agreement and expect the combined merger to close by the end of October 2023. According to data captured in the LevinPro HC database, this acquisition represents the 208th eHealth transaction of 2023 and the 46th in the revenue cycle management (RCM) specialty.
Athelas is a Mountain View, California-based provider of healthcare workflow automation software and RCM services. Founded in 2016, Athelas is integrated with all major electronic health records and offers artificial RCM, remote monitoring and patient engagement tools. Additionally, the company has two FDA-cleared medical devices.
Commure provides a healthcare technology platform. It helps to boost its users’ clinical and financial performance with applications designed to streamline care delivery and ensure revenue integrity and also keeps its users’ workforce safe from violence with a discreet badge designed to call for help. Commure was formerly known as PatientKeeper. The company was founded in 2017 and is based in San Francisco, California.
The combined company will retain the Commure name and will be led by Athelas co-founder and CEO Tanay Tandon. Cooley LLP served as legal advisors to Commure while Belcher, Smolen & Van Loo LLP served as legal advisors to Athelas. Financial terms of the deal were not disclosed.
