GE Healthcare sells Caradigm product line to Inspirata
GE Healthcare shed its Caradigm data analytics and population health unit in a sale to Inspirata, a Redmond, Wash.-based developer of cancer informatics and digital pathology solutions.
Details of the acquisition terms were not released.
Inspirata executives say they plan to use Caradigm’s platform to accelerate development of its cancer information data trust. In addition, it says it will continue to develop Caradigm’s population health management solutions and support existing customers, while saying it aggressively plans to find new PHM solution customers.
Caradigm’s Intelligence Platform and population health management software portfolio spans data control; healthcare analytics; and care coordination and engagement across the entire healthcare enterprise, including large integrated delivery networks, accountable care organizations, clinically integrated networks, academic medical centers and community hospital networks.
Microsoft is no longer an investor in Bellevue-based healthcare startup Caradigm, selling off its stake this month to General Electric.
Caradigm was initially a 50-50 joint venture of Microsoft and GE, created out of their healthcare technology units in 2011. But in spring 2016, Microsoft sold off its ownership portion in the company to GE; it then became a wholly owned affiliate of GE Healthcare.
“Caradigm has built a highly regarded, industry-proven big data health analytics platform,” says Inspirata CEO Satish Sanan. “Our goal is to leverage the core strengths of this platform to accelerate our Cancer Information Data Trust (CIDT) development. The CIDT will address key trends in oncology care, providing important new insights for clinicians, researchers, drug discovery and cancer center operations.”
Caradigm’s population health product set and staff “will have Inspirata’s specialized focus and attention to promote long-term sustainability, growth and innovation as we redouble our focus on delivering superior value to all customers,” Sanan adds.
“We are confident that Inspirata will be able to provide the intense focus and vision needed for growth through key investments in technology, infrastructure and people to energize the Caradigm software portfolio to better enable us to serve customers’ evolving needs,” says Neal Singh, Caradigm’s president and CEO. Singh was named Caradigm’s CEO in 2016; he was previously its chief technology officer, a position from which he led the strategic vision and execution of Caradigm’s enterprise portfolio of population health solutions.
The Caradigm Intelligence Platform aggregates data across clinical, social, operational and financial sources from disparate source systems, including electronic health records, billing systems, payers, claims, pharmacy systems, labs and HIEs.
While GE is in the process of shedding extraneous units to focus on a core set of businesses, it is said to intend to focus on its strongest performers, of which the healthcare line of business may be retained.