UPMC’s Curavi Health Acquires TripleCare Telemedicine
Curavi Health, Inc., a portfolio company of UPMC Enterprises, has acquired TripleCare, a telemedicine company in the post-acute and long-term care sectors, mirroring a growing trend in the e-health sector of the healthcare industry. Curavi’s takeover of TripleCare will give Curavi command of nearly 100 facilities across 14 states in the United States. TripleCare’s telemedicine platform offers post-acute care patients the opportunity to get treatment from physicians at home, without having to endure costly visits to the emergency room or hospitalizations. Financial terms of the acquisition were not disclosed. This deal echoes InTouch Health’s April 2018 purchase of REACH Health, whose REACH... Read More »
Medtronic Adds AI Component to its Diabetes Group
It’s been some time since Medtronic plc (NYSE: MDT) added outside capabilities to its Diabetes Group. Since 2015, in fact, when it bought Diabeter, an independent clinic and research center in Rotterdam. Now the medical device maker has added Nutrino Health, an Israeli digital health company focused on nutrition. It provides nutrition-related data services, analytics and technologies using artificial intelligence-driven personal assessments. It also has been developing algorithms to predict glycemic responses to food. In April 2018, Nutrino raised $8 million in a Series A round from Pereg Ventures, Nielsen Ventures, Gandyr Group and a number of business angels. Financial terms of its... Read More »
athenahealth Finds a Buyer and a Merger Partner
Only two weeks into the month of November 2018, and already the deal value is higher than all of October. Through November 14, nearly $9.8 billion has been spent, but that’s largely because of a single deal, and one that’s been long in the works. After a lengthy bidding process, athenahealth (NASDAQ: ATHN) was acquired by Veritas Capital and Evergreen Coast Capital, the private equity subsidiary of activist investor group Elliott Management Corporation. athenahealth’s focus is on hospital and ambulatory customers and its products range from medical records, revenue cycle, patient engagement, care coordination and population health services. The final price of... Read More »
ResMed Pays Big for MatrixCare
It’s a frothy, frothy market in most areas of health care, and the digital health space just got frothier. ResMed Inc. (NYSE: RMD), which makes medical equipment to monitor respiratory disorders, announced it paid $750 million for MatrixCare, a portfolio company of OMERS Private Equity. Right up front, ResMed touted the 25x price/EBITDA multiple, based on MatrixCare’s pro forma net EBITDA of approximately $30 million for calendar year 2018. Pro forma net revenue of $122 million in the same period is approximately 6.2x. The valuation is higher than even the sector’s biggest deal this year, Verscend Technologies’ $4.9 billion take-private deal for Cotiviti Holdings... Read More »
OptimizeRx Adds CareSpeak Communications
OptimizeRx Corporation (NYSE: OPRX) is heavily invested in healthcare communications. Its primary business provides digital health messaging via electronic health records (EHRs), offering a direct channel for pharma companies to communicate with healthcare providers. That makes its recent $9 million acquisition of privately held CareSpeak Communications so logical. CareSpeak, based in Somerset, New Jersey, provides patient engagement, medical therapy adherence, and care coordination solutions to insurers, pharmaceutical companies, pharmacies, and specialty pharmacies. OptimizeRx’s cloud-based solution supports patient adherence to medications by providing real-time access to financial... Read More »Schedule a demo
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