FUTURE OF HEALTHCARE, HEALTHCARE ANALYTICS
Rhythmlink | March 20, 2023
Rhythmlink International, LLC is pleased to announce an exciting new investment partnership with Graham Partners, a Pennsylvania-based private equity firm that specializes in industrial technology and advanced manufacturing businesses.
As a market leading designer and manufacturer of disposable neurodiagnostic devices and consumables, Rhythmlink has experienced significant growth since its founding in 2002, and this investment from Graham will ensure that growth continues along with the innovation and quality that Rhythmlink is known for. The investment was completed on March 15, 2023.
“We’re excited about this next phase of Rhythmlink,” said Shawn Regan, CEO and Co-Founder. “Graham is an excellent partner for us because of their experience in medical technology and healthcare, and we see this as a growth opportunity for us to continue to innovate beyond our current capabilities,” said Regan. “I’m extremely proud of how far we’ve come, and this is a chance for Rhythmlink to expand our business without sacrificing what matters to us – improving patient care in our field of neurodiagnostics.”
This new relationship with Graham follows Rhythmlink’s extremely successful partnership with New Heritage Capital, a Boston-based private equity firm that invested in Rhythmlink in 2019. Under partnership with New Heritage Rhythmlink grew rapidly, acquired Chalgren Enterprises and expanded their existing product line to include EMG and NCV diagnostic consumable devices. Joe Straczek, COO and CFO for Rhythmlink, spoke on the success of this relationship.
“Our partnership with New Heritage was extremely beneficial,” said Straczek. “With their support, both financially and strategically, we were able to realize significant growth, particularly with the acquisition of Chalgren. We are immensely grateful for their partnership and guidance over the last four years.”
Rhythmlink sells a full line of consumable neurodiagnostic devices for Critical Care, electroencephalography, intraoperative neuromonitoring, the ER and ICU, and long-term epilepsy monitoring.
Rhythmlink International is a medical device manufacturing company specializing in devices that help connect patients to machines to record or elicit physiologic information. Rhythmlink designs, manufactures and distributes a variety of medical devices for intraoperative neuromonitoring, electroencephalography, evoked potentials, polysomnography, long-term monitoring epilepsy and critical care units. Founded by neurodiagnostic technologists and engineers in 2002, Rhythmlink enhances patient care worldwide by transforming medical device technology that links patients to equipment. Rhythmlink also offers custom packaging, custom products, private labeling and contract manufacturing services.
About Graham Partners
Graham Partners is a private investment firm focused on investing in technology-driven companies that are spurring innovation in advanced manufacturing, resulting in product substitutions, raw materials conversions, and disruptions to traditional end markets. Graham Partners can offer control or minority capital solutions and typically targets companies with EBITDA up to $50 million. Since the firm's founding in 1988 by Steven Graham, Graham Partners has closed over 150 acquisitions, joint ventures, financings, and divestitures. The committed capital raised since inception through the Graham Partners funds together with Graham-led co-investments totals approximately $4.0 billion as of December 31, 2022, which differs from Graham’s Regulatory Assets Under Management of approximately $2.2 billion as of December 31, 2022. Investors include high-net-worth individuals, college and university endowments, foundations, public and private pension plans, funds-of-funds, and other institutional investors. Based in suburban Philadelphia, the firm has access to extensive operating resources and industrial expertise and is a member of The Graham Group, an alliance of independent operating Graham Partners Inc. businesses, investment firms and philanthropic entities, which all share in the common legacy of entrepreneur Donald Graham.
HEALTHTECH SECURITY, HEALTHCARE ANALYTICS
prnewswire | March 24, 2023
Ribbon Health a leader in healthcare provider data technology and management, announced the launch of new platform features that will increase access to care through provider scheduling. Enabled by partnerships with leading booking marketplaces, these new platform capabilities empower patients to easily search for providers that both fit their needs and are accepting new patients, and book appointments with those providers for high-quality care across primary, specialty, urgent, or mental health. Ribbon's platform offers real-time availability data from health systems and direct partner integrations, giving care providers, navigators, and health plans a single source of truth to guide consumers to the right care.
"Securing an appointment quickly" is the most important factor for having a positive healthcare experience, according to one-third of Americans surveyed in a recent report. Yet, there are a number of barriers inhibiting people from finding and booking high-quality care appointments when they need to most. Patients, providers, and care teams must navigate across multiple touchpoints, spend significant time and effort tracking down needed information, and contend with a growing physician shortage and a shrinking number of available therapists. All of these barriers lead to an average 26-day wait for an appointment in the best of circumstances, which could lead to worsening health, or patients opting out of care completely.
These barriers to care will be removed with Ribbon's new capabilities such as insight into which providers are accepting new patients, provider appointment availability, and booking links. With partner integrations across leading booking platforms, patients can attend a virtual or in-person appointment in as little as 48 hours; this is compared to the national average of two to three weeks, if not months. Patients will have seamless access to high-quality mental health, primary, specialty, and urgent care at the fraction of the cost of out-of-network or emergency services. For the first time, patients, providers, and care teams can use one central platform to find the right care using Ribbon's comprehensive provider directory data, accepted insurances, cost, and quality metrics to understand whether a provider is available, and then book an appointment.
"It shouldn't be harder to book care with a doctor than it is to book a flight or hotel," said Nate Maslak, Ribbon co-founder and CEO. "Unfortunately, that is still the case today. This launch is an important step in achieving our mission of accessible, affordable, and high-quality care for everyone. It will ensure patients can find the right doctor for their needs by allowing them to filter for availability and quickly book an appointment, rather than navigating through several websites or phone numbers each time and waiting weeks to months for care."
Ribbon's enhanced capabilities will help healthcare organizations decrease the administrative burden for care teams looking to direct patients to in-network providers. By improving the provider search experience with data on whether a provider is accepting new patients and has availability, teams can increase referral confidence.
"Making sure patients get to their referrals is critical for our business," said Jane Zhu, Director of Operations at Firefly Health, one of Ribbon's partners. "A big part of that is finding a provider who is not only a good clinical fit but is accepting new patients and available in the relevant time frame. Finding specialist availability is incredibly manual and time-consuming."
Ribbon Health continues to launch new capabilities with the ultimate goal of transforming the experience of finding a provider, and paving the way to accessible, affordable, and high-quality care for all. Additional new releases include a Digital Care Network to expand a "provider search" beyond brick and mortar with leading, lower cost, virtual care options, as well as Price Transparency to allow patients to see detailed cost estimates alongside provider quality indicators before a care decision is made.
About Ribbon Health
Ribbon Health partners with innovators to transform how healthcare decisions are made. Ribbon's data platform fuels healthcare enterprises with actionable provider information, including insurance coverage, prices, and performance. With Ribbon, healthcare enterprises can empower people to make the most informed decisions about their care by finding trusted and affordable providers.
HEALTH TECHNOLOGY, MEDICAL DEVICES
Masimo | March 10, 2023
Masimo, a pioneer in technology and automation solutions for the healthcare industry, and Temple Health, a leading academic health system in Philadelphia, recently announced the formation of a strategic innovation collaboration. With a focus on advancing the forefront of telehealth and remote patient monitoring and automating high-quality care, the strategic partnership may involve using innovations such as the Radius VSMTM tetherless multimodal patient monitor, Masimo W1TM advanced health tracking watch, and various Masimo Hospital AutomationTM solutions.
The collaboration aims to advance the organizations’ shared objectives of increasing care value, improving health, and transforming care delivery models. Masimo and Temple Health intend to collaborate in the following areas
Raising awareness about health equity using their expertise and regional influence to improve access to quality care for Philadelphia residents.
Demonstrating the future of healthcare by deploying next-generation therapies, devices, technologies, and systems to enhance patient-centered care across the care continuum, particularly in remote patient monitoring, automation, and telehealth.
Joint research into healthcare technology best practices to minimize tech obsolesce in healthcare as telehealth and automation infrastructure become more sophisticated.
Trial and refine the latest Masimo technologies by participating in the Temple Health ‘Collaboratory.’
Collaborative clinical research in inpatient, outpatient, and home settings, with technological innovation, cooperation and co-development.
Key leaders’ engagement in clinical and technological exchanges aimed at pushing the frontiers of healthcare.
Founder and CEO of Masimo, Joe Kiani, shared, “We are delighted to expand our relationship with Temple Health through this innovation collaboration and to work hand in hand to explore how Masimo’s monitoring, connectivity, and automation technologies, alongside Temple Health’s clinical expertise, can bring safe, easy-to-use, high-quality telehealth and remote patient monitoring services to their patients. We are committed to improving life, improving patient outcomes, and reducing the cost of care.”
(Source – Business Wire)
Based in Irvine, California, Masimo is a global medical technology company specializing in developing and manufacturing breakthrough noninvasive patient monitoring technologies, including sensors and medical devices. For over 30 years, it has been dedicated to solving challenging problems in the medical industry. By offering clinically-proven and innovative products, and healthcare providers, the company is committed to making a measurable difference in the world by saving, prolonging, and enhancing the lives of people of every age and background. Its cutting-edge solutions offer real-time information to optimize clinical decision-making and improve patient safety.