Development Well being Companions acquires Introduction Well being Companions
US-based healthcare asset administration options supplier Development Well being Companions has acquired Introduction Well being Companions, a Tennessee-based healthcare expertise firm.
Monetary phrases of the deal weren’t disclosed.
This deal is anticipated to place Development as a man-made intelligence (AI)-powered platform to make sure cost accuracy and income integrity in healthcare, serving each payers and suppliers.
Based in 2010, Introduction developed its personal expertise platform referred to as Cavo.
By leveraging AI, Cavo helps streamline medical report overview throughout income cycles and cost integrity facets, together with denial administration, utilization administration, itemized billing evaluations, and DRG evaluations.
Development CEO Sarah Armstrong mentioned: “Cavo will assist us broaden our present platform, TRENDConnect, to unravel a good broader set of challenges for our payer and supplier prospects.
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“We’re very excited to welcome the Introduction crew to our group.”
According to Development's targets, Introduction's answer goals to extend reimbursement accuracy, cut back administrative prices, and promote collaboration and transparency between payers and suppliers.
The acquisition will permit Development to combine Introduction's complementary answer and technological capabilities.
This integration will assist Development ship better worth to its payer and supplier prospects by bringing collectively medical and non-clinical information and analytics right into a unified platform.
The merged firm will serve greater than 50 well being plans and almost 1,000 hospitals.
This deal is supported by a follow-on funding from Lone View Capital, Development's institutional investor since 2022.
OM Companions acted as monetary advisor and Barnes & Thornburg as authorized advisor to Introduction, whereas William Blair & Firm acted as monetary advisor and Holland & Knight as authorized advisor to Development.
Commenting on the deal, Introduction CEO Mark Thienel mentioned: “We’re extremely happy with what the Introduction crew has achieved over the previous decade and the numerous worth we now have delivered to our prospects.
“We couldn't be extra excited to companion with the Development crew and construct on that legacy.”
