Customer relationship management software vendor NexJ Systems Inc. has acquired patient education vendor Liberate Ideas Inc. for $1 million in cash and stock and up to $1 million more upon meeting performance targets.
Both companies are based in Toronto with NexJ Systems doing 75 percent of its business in the United States. The NexJ Systems CRM software serves multiple industries with the healthcare products supporting increased productivity, and management of member loyalty, marketing, and health coaching and wellness programs. Liberate formed in 2012 and its product went live in January 2014. The company has about 1,000 physician users in Canada and 500 in the U.S.
Liberate Health offers a cloud-based educational platform assessed via iOS-operated tablet computers to enable physicians to pull up slides at the point of care and walk a patient through a diagnosed condition and an evidence-based treatment plan. Research suggests that patients retain only about 20 percent of information from a physician and half of that is remembered incorrectly, says William Tatham, CEO at NexJ Systems. After viewing the content through pictures and words on the tablet, a physician can give a patient a web link to access the content at home.
Pharmaceutical firms, anxious to improve medication adherence rates, pay NexJ Systems to develop and manage the content. The company targets insurers, third-party administrators, providers, pharmacies and employers to offer the content, which is free to physicians.
The services of Liberate Health perfectly align with the goals of the Affordable Care Act to enhance patient engagement and outcomes, Tatham says. We think its a trend in its infancy, he adds.
Register or login for access to this item and much more
All Health Data Management content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access