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Convey Health Solutions Sold By PE Firm
After a three-year partnership, New Mountain Capital is selling Convey Health Solutions, Inc. to TPG Capital for an undisclosed amount. According to sources cited by Buyouts.com, New Mountain Capital has been looking for a buyer since last April. The sources also projected Convey Health should generate roughly $50 million EBITDA in 2019, up from $10 million in 2016. The target company provides technology solutions exclusively for government-sponsored health insurance plans such as Medicare Advantage, Medicare Part D, and Employer Group Waiver Plans. The company’s management and other select stakeholders will remain invested in the company. TPG will be getting a robust digital health... Read More »eHealth Deals Remain Active in August
August proved to be another busy month for eHealth transactions. According to our Deal Search Online database, there were 18 acquisitions in the eHealth sector in July 2019, and 17 in August. The most popular targets this month were cloud-based and data-analytics providers. There were eight digital health transactions with that focus, including Water Street Healthcare Partners and JLL Partners’ acquisition of THREAD, a virtual research platform used by biopharma, contract research organizations, not-for-profit researchers and life science organizations to capture global clinical study data for clinical studies. Water Street and JLL will invest to further develop and expand... Read More »
Patient Engagement Firm MyDirectHealth Acquired by Experian
Experian Health, the healthcare arm of Experian (LSE: EXPN) announced earlier this month that it acquired MyDirectHealth, a digital health firm. No financial terms were disclosed. Companies like Experian Health that collaborate with hospitals and provide data support seem to be buying companies much like MyDirectHealth pretty frequently. MyDirectHealth develops digital care coordination solutions to help patients find the appropriate care provider. The company’s platform also offers patient engagement and outreach analytics, which Experian hopes to combine with its analytics platform to streamline healthcare administration. Patient engagement platforms are definitely trending,... Read More »
After a Two-Year Buying Spree, Bain Sells Majority Stake in Waystar
Almost two years ago, in September 2017, Bain Capital Private Equity acquired cloud-based revenue cycle management (RCM) company ZirMed for a reported $750 million and merged it with its own revenue cycle management company, Navicure. The combination formed Waystar, which integrated ZirMed’s business and clinical performance management solutions with Navicure’s own cloud-based RCM platform that focused on medical claims management, patient payment and data analytics solutions. Pedal to the Metal A year later, in September 2018, Waystar went on an acquisition spree. Its first target, Connance, provides predictive analytics solutions to more than 500 hospitals, thousands of... Read More »Digital Health Sector M&A Activity Stays Strong in June
June was a busy month for the digital health sector. Our totals so far are 16 deals, but that number may increase as we find some deals disclosed in quarterly reports. It doesn’t quite reach the count from June 2018 (25 deals), but 2018 was so robust in deal volume it’s a hard comparison to make. In 2017, for instance, there were only 13 deals reported. Dollar volume, on the other hand, is difficult to compare, mainly because of the headline-worthy transaction below. Dassault Systèmes (Paris: DSY) acquired Medidata Solutions, Inc. (NASDAQ: MDSO) for $5.8 billion, the second largest digital health transaction in our database. This acquisition increases Dassault’s services for... Read More »Schedule a demo
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