Data analytics vendor Health Catalyst has expanded its business opportunities by acquiring analytics firm Health Care DataWorks (HCD), getting complimentary technology and five major delivery systems as clients.
Salt Lake City-based Health Catalyst, serving provider organizations that collectively represent more than 50 million patients, bought HCD for an undisclosed amount of cash and stock. Leadership at both companies, who came from academic health systems, have known each other for many years and there has been collaboration in the past that over time made combining the companies a logical move, says Dan Burton, CEO at Health Catalyst, which has about 400 employees.
HCD is much smaller with a workforce of 28 extraordinarily talented individuals, he adds, as well as visualization and reporting tools that will augment hospital operational dashboards that Health Catalyst sells. Further, HCDs delivery system clients that Health Catalyst picks up are Cedars-Sinai Medical Center, El Camino Hospital, MemorialCare Health System, Orlando Health and Tampa General Hospital. In total, these systems have 18 hospitals and about 112 clinics. HCD clients will migrate to the Health Catalyst platform, which will be the platform going forward.
Cedars-Sinai and MemorialCare also have become investors in Health Catalyst, the terms of which were not disclosed. Now, Health Catalyst has significant co-development opportunities with both delivery systems, which because of their investments also have the motivation to succeed, according to Burton.
Jyoti Kamal, PhD, former president of HCD, now will serve as a vice president at Health Catalyst.
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