Netsmart | September 23, 2022
Netsmart, the developer of the industry-leading CareFabric® platform for human services, post-acute care providers and payers announced its intent to apply to join the Trusted Exchange Framework and Common Agreement to become a Qualified Health Information Network. By supporting TEFCA, Netsmart continues its decade-long advancement of interoperability strategies to facilitate an open exchange of longitudinal healthcare data that will benefit individuals receiving care across the healthcare ecosystem.
Once accepted as a QHIN, Netsmart will be part of a first-of-a-kind national data sharing network that will determine new standards for both private and public sectors. The Office of the National Coordinator for Health Information Technology is leading the charge and will oversee the QHIN process through the designation of The Sequoia Project as the recognized coordinating entity. Netsmart has been collaborating with the ONC and The Sequoia Project to help develop and provide feedback on the principles and procedures put forth by TEFCA.
Netsmart is a longtime leader and advocate for open networks and interoperability standards to prioritize the needs of providers, clinicians, patients, and their families. This open network approach is in contrast to technology vendors who in some cases have sought to carve out proprietary networks that stifle the future of care coordination. The open and secure sharing of data is required to achieve effective care coordination that Netsmart supports as a founding member of the Carequality interoperability framework.
The Netsmart network, CareConnect™, was built to offer clients seamless integration of health data and one point of access to the larger health data ecosystem. With the CareConnect solution, Netsmart was one of the first healthcare IT vendors to utilize the new 360X closed-loop referral standards in a production environment to bring to life true interoperability to minimize manual data entry which streamlines transitions of care and care coordination and reduces medication errors. By empowering providers to digitize their enterprise, Netsmart clients are projected to perform more than 3 billion secure health data exchanges facilitated through CareConnect in 2022.
“It has always been our objective as a healthcare technology partner to offer comprehensive solutions and services that allow providers to remain competitive in a landscape that requires coordinated care and value-based practices for success. Becoming a Qualified Health Information Network aligns with our established history of being at the forefront of driving interoperability. As we take the next step in the evolution of data exchange, we look forward to collaborating with other healthcare IT vendors applying to participate as a QHIN to expand access to open networks for consumers nationwide.”
Netsmart CEO Mike Valentine
Netsmart, a leading provider of Software as a Service technology and services solutions, designs, builds and delivers electronic health records, health information exchanges, analytics and telehealth solutions and services that are powerful, intuitive and easy-to-use. Our platform provides accurate, up-to-date information that is easily accessible to care team members in the human services and post-acute care (which is comprised of home care and hospice and senior living) and payer markets. We make the complex simple and personalized so our clients can concentrate on what they do best: provide services and treatment that support whole-person care.
By leveraging the powerful Netsmart network, care providers can seamlessly and securely integrate information across communities, collaborate on the most effective treatments and improve outcomes for those in their care. Our streamlined systems and personalized workflows put relevant information at the fingertips of users when and where they need it.
Paradigm Oral Health | September 23, 2022
Paradigm Oral Health a leading oral surgery and digital dentistry platform announced that BlackRock Long Term Private Capital has entered into a definitive agreement to acquire a majority interest in the company from shareholders including InTandem Capital Partners. LTPC will partner with Paradigm’s executive leadership team, led by founder and CEO Dr. David Rallis, to support the company’s continued expansion and strategic growth plans.
Founded in 2018, Paradigm has developed an industry-leading model designed to attract and retain best-in-class surgeons focused on delivering the highest quality of oral health care and dental implant surgery while fostering a medically-driven, patient-friendly culture of excellence. The company partners with leading oral surgery groups in markets across the United States, allowing them to maintain their unique brand identity while operating on the same platform. Paradigm’s proprietary practice management technology, Paragon, utilizes cutting-edge technology and data analytics to provide and store proprietary information and intelligence generated by the business, leading to enhanced performance as well as increased patient and provider satisfaction. Today, Paradigm and its team of over 100 surgeon partners provide patient care in 75 state-of-the-art facilities throughout the United States.
“We are pleased to invest in Paradigm, which has established itself as an industry defining platform for the development and delivery of next-generation oral health solutions. Through its focus on providing superior clinical care, advanced technology, and continued training and education to its surgeon partners, the company is well positioned for long-term growth. We look forward to partnering with Dr. David Rallis and the entire Paradigm team.”
Colm Lanigan, Head of BlackRock LTPC, Americas
David Rallis, DDS, MD, and CEO of Paradigm Oral Health, commented, “Paradigm is advancing oral surgical outcomes and patient experience through a culture that places the needs of the patient first. At Paradigm, we validate our clinical performance through a proprietary data ecosystem and use data to reinforce our culture of excellence and accountability. Through innovation, and the rapid adoption of technology, we continue to set the standard for dental implant surgery. Aligning our company with world-class partners, first InTandem Capital and now BlackRock LTPC, has allowed Paradigm to emerge as a leader. We are humbled by the opportunity to partner with BlackRock LTPC, and excited to work with Colm Lanigan and his team as we continue to advance Paradigm as the global leader in oral surgery.”
Elliot Cooperstone, Managing Partner of InTandem Capital Partners, Paradigm’s financial sponsor since 2019, commented, “InTandem Capital invests in healthcare companies that are local leaders with the ambition and potential to become a national powerhouse. Dr. David Rallis and the leadership team at Paradigm embraced our playbook for accelerated growth with amazing skill and dedication. Our deep trust in each other has allowed our partnership to flourish. My colleagues and I wish David and the Paradigm team the very best as they build on their well-deserved position as the country’s leading oral health company.”
Paradigm is BlackRock LTPC’s sixth investment to date and its fourth investment in North America.
Houlihan Lokey acted as financial advisor and Goodwin Procter acted as legal advisor to Paradigm. Simpson Thacher acted as legal advisor to Blackrock LTPC.
About Paradigm Oral Health
Paradigm Oral Health is the preeminent provider of oral surgery. Paradigm’s uniqueness comes from their ability to hire the most elite oral surgeons in the country and train them on their proprietary platform of excellence. Paradigm Oral Health continues to revolutionize and reinvent implant surgery through their ongoing technology and digital work-flow advancements. With a passion for excellence, Paradigm embraces every opportunity to meet the needs of their patients and referring dentists.
About BlackRock LTPC
BlackRock LTPC is an innovative private equity strategy focused on investing in high-quality businesses and value creation through active collaboration with management teams. The strategy's flexible duration and prudent approach to leverage preserve optionality for growth and help enable compounded capital appreciation. LTPC's team of 23 professionals are based in New York and London and invest across North America and Western Europe. LTPC is backed by BlackRock, Inc., which manages $320 billion in alternative investments and commitments on behalf of clients worldwide as of June 30, 2022.
About InTandem Capital Partners
InTandem Capital Partners is a private equity firm that invests in and helps accelerate the growth of select healthcare services companies. Its goal is to build excellent businesses of significant value working collaboratively with its management team partners. InTandem is comprised of former business executives and experienced investors, and is uniquely qualified to provide strategic, acquisition and operating expertise to help companies significantly increase their value over time. InTandem provides active support to the management of its portfolio companies directly and leverages its network of industry executives to augment its capabilities.
nference | September 22, 2022
nference, a science-first software company transforming healthcare by making biomedical data computable announced the launch of its AI-driven nSights platform, which will allow biopharma, medical device companies, and diagnostic firms to access and directly engage with curated, de-identified healthcare data to advance research and discovery.
The company also expanded its exclusive 12-year strategic relationship with Mayo Clinic, providing nference partners and customers with access to Mayo Clinic Platform’s extensive de-identified electronic health data across a range of disease and therapeutic areas. This expanded collaboration will increase access to data-derived insights and knowledge by establishing a Mayo Clinic-branded version of nSights, called Mayo Clinic Platform_Discover, built and supported by nference to help its partners solve some of the most complex clinical challenges.
nSights is a software platform that makes real-world data available across multiple data modalities (clinical, molecular, and imaging). The platform enables data exploration, hypothesis generation, analytics, and data science capabilities, including algorithm development, for users of all backgrounds. nSights provides a longitudinal, 360-degree view of each patient by leveraging an ensemble of biomedical information, such as electronic health records, electrocardiograms, radiology images and more. Future iterations will also include digital pathology and genomics. The platform is supported by a flexible data dictionary, allowing for the generation of new patient-level features for analysis.
“The potential of electronic health data remains locked at medical centers and is frequently under-leveraged due to data complexity, privacy, and security concerns. Our expanded collaboration with Mayo Clinic Platform provides the framework for nference’s deployment of nSights and enables our customers to access de-identified ‘patient-level’ data to drive research and development of new therapeutics. I look forward to continuing to build and fortify our partnership with the Mayo Clinic team as we work together to improve healthcare through data-derived insights and knowledge.”
Mike Koenig, chief commercial officer at nference
As a result of the company’s partnerships with major academic medical centers like Mayo Clinic, nSights provides access to the deepest curated patient-level dataset available across all therapeutic areas, including cardiology, oncology, metabolic diseases, immunology, and infectious diseases. The platform offers insights from both structured and unstructured records, representing more than 20 years of longitudinality, including data from over 520 million clinical notes, 1.3 billion lab test results, 10.2 billion flowsheets, and more.
“Over the past year, our collaboration with nference, leveraging nSights, has accelerated clinical decision support and care in significant ways," said Maneesh Goyal, chief operating officer, Mayo Clinic Platform. "Data-derived insights and knowledge help us accelerate and enhance innovation and meet the unmet needs of patients everywhere.”
Through its powerful technology platform and software, nference is transforming health care by making biomedical knowledge computable. Its partnership with Mayo Clinic has given nference an opportunity to synthesize decades of institutional knowledge, producing real-world evidence in real-time by converting large amounts of de-identified data into deep insights to advance discovery and development of diagnostics and therapeutics. Its proprietary AI-enabled software platform, nSights, has been used to accelerate life sciences research, development, and clinical care in significant ways, including biomarker discovery and validation, real-world evidence generation leveraging real-world data, early disease detection, public health policy generation and validation, and more. nference is headquartered in Cambridge, Mass.