HIT Vendors Expand in Acquisitions, Investments
Acquisitions by veteran health information technology vendors and new investments in emerging ones highlight recent HIT business announcements.
Acquisitions by veteran health information technology vendors and new investments in emerging ones highlight recent HIT business announcements:
* Insurance systems vendor Ebix Inc. has acquired Healthcare Magic, which offers consumers an online platform to pose medical questions to 15,000 physicians in 50 specialties. Ebix paid $6 million in cash with a contingent earn out of up to $12.5 million payable in two years. Consumers pay for the service per use or via a subscription. HealthMagic also offers the service to employers overseas and Ebix will launch a business service in the United States. Healthcare Magic will become part of Ebixs A.D.A.M. Health Division, a medical information content vendor for consumers, providers and insurers that was acquired in 2010.
* Claims clearinghouse and revenue cycle analytics vendor ZirMed has bought Intelligent Healthcare, which sells a population health management analytics platform. Financial terms were not disclosed. The deal enables ZirMed, whose tools aid clients in preparing for new payment models to add clinical analytics services to stratify at-risk patients, identify gaps in care and better understand utilization.
* Bain Capital Ventures and several angel investors in Silicon Valley have pumped $13.5 million into Apixio, an analytics vendor offering risk scoring software. The Affordable Care Act requires commercial insurers to maintain risk adjustment data for small group and individual plan members.
* Analytics vendor Aver Informatics has raised $8.5 million in a funding round led by Drive Capital and GE Ventures. Targeting insurers, the analytics platform compartmentalizes patient care services into episodes of care for bundled payments to create standardized protocols for treatment and reduce unnecessary services, according to the vendor.
* PatientPay, which sells a cloud-based patient billing and payment services platform, raised $2.5 million, bringing its total investments to $6 million. Mosaik Partners led the funding round. PatientPay serves hospitals and ambulatory practices.
* Insurance systems vendor Ebix Inc. has acquired Healthcare Magic, which offers consumers an online platform to pose medical questions to 15,000 physicians in 50 specialties. Ebix paid $6 million in cash with a contingent earn out of up to $12.5 million payable in two years. Consumers pay for the service per use or via a subscription. HealthMagic also offers the service to employers overseas and Ebix will launch a business service in the United States. Healthcare Magic will become part of Ebixs A.D.A.M. Health Division, a medical information content vendor for consumers, providers and insurers that was acquired in 2010.
* Claims clearinghouse and revenue cycle analytics vendor ZirMed has bought Intelligent Healthcare, which sells a population health management analytics platform. Financial terms were not disclosed. The deal enables ZirMed, whose tools aid clients in preparing for new payment models to add clinical analytics services to stratify at-risk patients, identify gaps in care and better understand utilization.
* Bain Capital Ventures and several angel investors in Silicon Valley have pumped $13.5 million into Apixio, an analytics vendor offering risk scoring software. The Affordable Care Act requires commercial insurers to maintain risk adjustment data for small group and individual plan members.
* Analytics vendor Aver Informatics has raised $8.5 million in a funding round led by Drive Capital and GE Ventures. Targeting insurers, the analytics platform compartmentalizes patient care services into episodes of care for bundled payments to create standardized protocols for treatment and reduce unnecessary services, according to the vendor.
* PatientPay, which sells a cloud-based patient billing and payment services platform, raised $2.5 million, bringing its total investments to $6 million. Mosaik Partners led the funding round. PatientPay serves hospitals and ambulatory practices.
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