Cigna Ventures leads $29.5M investment in healthcare analytics company

MedCity News | January 13, 2020

Healthcare analytics company Arcadia raised $29.5 million in new funding. The growth capital round was led by Cigna Ventures, with participation from past investors. Burlington, Massachusetts-based Arcadia integrates with more than 40 different electronic health record companies. It aggregates and analyzes records data to help hospitals and accountable care organizations meet metrics for value-based care. The company also develops tools to identify gaps in patient care and find ways to improve on cost. Arcadia is accelerating the path to value-based care through its use of high-quality data, sophisticated analytics and workflow technology” Tom Richards, global lead of strategy and business development at Cigna Ventures, said in a news release. Cigna has a long history of partnering with innovative companies who, like us, are focused on making health care affordable, predictable and simple and improving health and well-being outcomes. Arcadia not only shares that vision, but with our investment and partnership, can bring even more resources and tools to health care professionals enhancing patient care and furthering the adoption of value-based care models.

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HEALTH TECHNOLOGY, MEDICAL DEVICES

Signify Health and Prospect Medical Holdings Team Up to Provide Top-notch Care

Signify Health | January 12, 2023

Signify Health, a top healthcare platform that uses advanced analytics, technology, and nationwide healthcare networks, announced a new partnership with Prospect Medical Holdings, Inc., a growing healthcare services company on January 11, 2023. The collaboration will help create and run value-based payment programs for superior care. To improve care transformation, manage risk, and provide high-quality, coordinated patient care for its traditional Medicare fee-for-service patients, Prospect's Waterbury HEALTH and Eastern Connecticut Health Network (ECHN) facilities and their affiliated provider network in Connecticut will join a Signify-enabled accountable care organization (ACO) in 2023 as part of the Medicare Shared Savings Program (MSSP). Signify Health will assist Prospect facilities in managing their MSSP ACO risk, lowering costs, and increasing quality incentives by providing data-driven, tailored population health roadmaps. Patients who seek treatment at Prospect's hospitals, which provide care to underprivileged and diverse populations across the state, will benefit from the strategic partnership. EJay Lockwood, Vice President, Connecticut Coordinated Care at Prospect Medical Holdings stated, "Every healthcare market is different to a certain extent, but we were impressed by Signify's experience that has spanned so many markets and has managed to 'stay local' while simultaneously honing their approach to delivering on the core competencies that any successful ACO needs to have." (Source: Business Wire) Tim Gronniger, Chief of Value-based Care Solutions, Signify Health, shared, "Prospect's Connecticut teams serve patients living in economically disadvantaged areas who also have been medically underserved. Through our work together, Prospect's Medicare patients will receive needed increased access to preventative and in-home services that will help improve their health outcomes, while creating a better overall experience for both patients and their care teams." (Source: Business Wire) About Signify Health At Signify Health, a renowned healthcare platform, cutting-edge analytics, technology, and national healthcare provider networks enable value-based payment options. Health plans and organizations use the company's technologies to assess risk and develop ways to enhance patient outcomes, coordination, and cost. Its platform coordinates clinical, social, and behavioral treatments. Signify Health meets customers' needs, reduces costs, and brings care closer to home.

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HEALTH TECHNOLOGY, FUTURE OF HEALTHCARE

Compulink Receives 21st Century Cures Act Certification From ONC

Compulink Healthcare Solutions | January 03, 2023

As the market leader in specialty-specific, all-in-one EHR solutions, Compulink Healthcare Solutions has earned the ONC-Health IT 2015 Edition Cures Update Health IT certification that will come into effect in 2023. This includes the most recent interoperability standards essential for supporting compliance with the information-sharing requirements of the 21st Century Cures Act. Compulink said that getting certified early shows how committed they are to making sure that their clients' solutions are in line with the many rules that require the use of certified EHR technology. Compulink Advantage™ is an all-in-one database EHR solution that provides its clients with practice management, inventory management, patient portal, mobile patient engagement, ASC, E-Commerce, analytics, optical POS (for eyecare practices), and a billing (RCM) service option. The company offers complete EHR solutions for ophthalmology, optometry, orthopedics, otolaryngology, behavioral health, dermatology, gastroenterology, podiatry, pain management, physical therapy, audiology, and urology. Drummond Group LLC, an authorized certification body, certified Compulink's EHR products (ACB). Drummond, testing for more than 20 years, has done more than 3,000 tests and certifications for health IT since 2010. About the Certification Compulink Advantage Version 12 complies with the 2015 Edition. It has been approved as such by an ONC-ACB based on the criteria for certification set by the Secretary of Health and Human Services. This certification does not mean that the United States Department of Health and Human Services backs the product or service in question. About theCompulink Healthcare Solutions Compulink Healthcare Solutions all-in-one EHR and practice management solution has helped specialty medical practices reduce costs, increase efficiency, and simplify the delivery of excellent patient care. Compulink is the leader in fully customizable EHR solutions that adapt to your practice style and is used by over 26,000 providers in over 4,700 locations, 70 ambulatory surgical centers, and 19 colleges and universities.

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FUTURE OF HEALTHCARE, MEDICAL DEVICES

Tandem Diabetes Care Successfully Acquires AMF Medical SA

Tandem Diabetes Care | January 24, 2023

On January 23, 2023, Tandem Diabetes Care, Inc., a company specializing in diabetes technology, announced that it had successfully finished acquiring AMF Medical SA, a Switzerland-based medical equipment manufacturer that created the Sigi Patch Pump. Sigi Patch Pump is a rechargeable, ergonomic patch pump intended to lower the strain of managing diabetes by utilizing pre-filled insulin cartridges. It is currently under development and is not available for retail purchase. John Sheridan, President and Chief Executive Officer of Tandem Diabetes Care, said, "AMF Medical's compelling technology aligns well with our strategic vision to include a patch pump in Tandem's portfolio of differentiated offerings." He adds, "In addition to this innovative technology, the talented AMF team joining our Tandem family shares our commitment to simplify diabetes management and brings decades of experience from the diabetes device, life sciences, and watch-making industries." (Source – Business Wire) For this transaction, Tandem Diabetes Care received legal counsel from Baker & McKenzie LLP and Bass, Berry & Sims PLC. AMF Medical relied on SVB Securities LLC as its sole financial advisor, while Homburger AG served as its exclusive legal advisor. About Tandem Diabetes Care Headquartered in San Diego (California), Tandem Diabetes Care, Inc. is a medical device company aiming to better the lives of people with diabetes through endless innovation and a novel customer experience. The company employs a fresh and user-centric approach when it comes to developing, designing, and commercializing products for those who need to use insulin. As a result, Tandem Diabetes Care is creating a positive difference by assisting in creating better outcomes for people affected by diabetes and their healthcare providers.

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