HEALTH TECHNOLOGY

Francisco Partners Launches Data Company Merative After Acquiring IBM’s Healthcare Data and Analytics Assets

Francisco Partners and Merative | July 01, 2022 | Read time : 1 min

Francisco Partners

The acquisition of the healthcare data and analytics assets that were a part of IBM's Watson Health business, has been completed, according to Francisco Partners, a renowned international investment firm that specializes in working with technology companies.

The new standalone business, which will be owned by Francisco Partners, will be known as Merative and have its headquarters in Ann Arbor, Michigan.

Merative serves clients in the life sciences, provider, imaging, health plan, employer, and government health and human services sectors by bringing together market-leading offerings that give value across the global healthcare ecosystem.

Merative has market leading products, top clients and talented leadership. With the commitment, support and deep experience of Francisco Partners, we will invest heavily in expanding the reach of these products as we continue to work with clients to improve healthcare delivery, decision making and performance.”

Gerry McCarthy

Paul Roma, General Manager of the Watson Health business, is slated to transition to the role of Senior Advisor to Francisco Partners. “Paul has been instrumental in driving crucial transformation of the business. His relentless focus on customers has laid a solid foundation to build on, and we thank him for his leadership,” said McCarthy.

Spotlight

Our host, Cindy Wheeler, catches up with Tidelands Health president and CEO Bruce Bailey to introduce newly named Tidelands Health.

Spotlight

Our host, Cindy Wheeler, catches up with Tidelands Health president and CEO Bruce Bailey to introduce newly named Tidelands Health.

Related News

HEALTH TECHNOLOGY

Innovaccer Expands Global Footprint, Enters U.K. Market to Deliver Digital Transformation in Healthcare

Innovaccer Inc., | June 24, 2022

The Health Cloud firm, Innovaccer Inc., declared that as part of its growth into the UK healthcare industry, it will build an office in London. To support the legislative reforms of the NHS Health and Care Act 2022, Innovaccer offers data-driven technological solutions that can speed up innovation and digital transformation. The company's long-term expansion strategy and dedication to improving healthcare access, affordability, and quality around the world are both supported by the opening of the London office. The NHS recommended in 2019 that its design be changed in order to "improve coordination of services through the construction of Integrated Care Systems." The Health and Care Act of 2021 offered a framework to make it easier for the NHS, local governments, and other stakeholders to work together and promote the pandemic's recovery. The bill was enlarged by the Health and Care Act 2022, which included a wide variety of policy changes targeted at strengthening health and care services through improved integration of health and care and addressing growing health inequities. “The UK healthcare landscape is one of the best in the world. NHS England’s long-term plan clearly sets the direction for widespread digital services that can support and empower people to stay healthy and independent for longer. But they also acknowledge the challenge of identifying a technology provider that’s experienced with healthcare data. With Innovaccer’s data and analytics platform backed by a unified patient record, we can move towards addressing inequalities in health and population health, as well as wellbeing and the quality of services as part of the triple aim for NHS”. John Gurnett, General Manager, UK and Europe, Innovaccer More than 1,600 care settings have used Innovaccer's solutions. Over 39 million patients' records have been merged, helping over 96,000 caregivers work more cooperatively and saving more than £800 million as a result. Leading healthcare organizations have seen results like a 6.6 percent decrease in emergency room use, a 6.6 percent decrease in readmissions, and a 13 percent increase in referral success rate. “This is a milestone for the company in achieving our vision and for healthcare. By integrating data from multiple domains within the NHS and from local agencies, Innovaccer can help bridge the collaboration gap and provide analytics and actionable insights to meet the goals as set out by the Health and Care Act 2022—to improve the quality of care and reduce costs. Innovaccer’s capabilities in care coordination and population health will accelerate NHS’s vision of enabling people to live healthier and more independent lives through high-quality, seamless care”. Abhinav Shashank, co-founder and CEO of Innovac

Read More

HEALTH TECHNOLOGY

MedSec Sets Up a Healthcare Technology Cyber Risk Management Team

MedSec | July 04, 2022

In order to increase its biological and clinical knowledge, MedSec, a premier solutions provider of medical device security, announced it is forming a new Healthcare Technology Cyber Risk Management (HTCRM) team with a roster of seasoned professionals in the sector. The present Chief Product Officer of MedSec and HTCRM authority Phil Englert will take on the position of Advisor for the new team. "MedSec serves stakeholders of all kinds within the medical device eco-system. The establishment of this team allows us to better serve our hospital clients, who are tackling medical device security on a day-to-day basis." Justine Bone, CEO at MedSec "Biomedical and Clinical Engineering teams already have too many things on their plate – and they need leverage. Becoming an extension of their team, augmented by our technology capabilities, we're able to help our customers do things that they would otherwise not be capable of doing with their existing staff. Our clients love the combination of being able to 'speak tech' but also 'understand clinical' to help them further achieve their goals." Andrew Donarumo, Chief Technology Officer at MedSec Englert will continue to assist MedSec in creating security options for hospitals as an advisor. Englert brings to the position extensive understanding of clinical settings and medical technologies. His experience covers more than 30 years of technical and operational leadership in the healthcare and life sciences sector with an emphasis on creating strategic direction, enhancing operations, and undertaking business optimization and transformation efforts that are enabled by data and technology. In addition to governance and operations, vulnerability and patch management, incident response, medical device alerts, and SOC integration, Phil has led the development of medical device security programmes that have made it possible to prioritise strategic initiatives that will have an impact and carry out efficient maintenance and response tasks. In the past, he oversaw the development of strategy and tactics for a $250 million MedTech services business that supported over 130 Acute Care hospitals in 22 states.

Read More

HEALTH TECHNOLOGY

NextGen Healthcare Expands Relationship with InstaMed to Simplify Payment Processing for Patients and Providers

NextGen Healthcare, Inc. | July 19, 2022

NextGen Healthcare, Inc, a leading provider of innovative, cloud-based healthcare technology solutions, announced that it has expanded its long-term relationship with InstaMed, a J.P. Morgan company, in a deal that modernizes payment processing through NextGen® Pay powered by InstaMed. This solution expands payment options and convenience for patients, who can pay online when visiting providers that utilize the NextGen® Practice Management solution. The platform also enables healthcare practices to automate collections and manage and view payments all in one system. The payment solution is not only convenient but secure, utilizing best-in-class data encryption protections. “With NextGen Pay powered by InstaMed, we’re taking the friction out of the patient-provider payment experience. Patients want a simple and streamlined process for paying their medical bills; providers want to focus on delivering the best care possible without being mired in collection inefficiencies. Our integrated solution delivers on both needs.” Srinivas (Sri) Velamoor, chief growth and strategy officer for NextGen Healthcare InstaMed is an industry leader in collecting healthcare payments throughout the patient journey. A recent trends report published by InstaMed highlights the importance of payment convenience to patients. According to the survey, 83% of patients want to continue using virtual and self-service options for care post-pandemic. Another 74% prefer online payment for medical bills. Additionally, 74% of millennials would switch providers for a better healthcare payment experience. “The expansion of our work with NextGen Healthcare is the evolution of our longstanding relationship rooted in delivering better healthcare payment experiences for both providers and patients,” said Jon Neal, head of business development at InstaMed and managing director at J.P.Morgan. “The demand and need for digital, automated and simple payment processes have never been higher. We are excited to see our solution drive real change for providers and patients.” Several NextGen Healthcare clients are already benefiting from NextGen Pay powered by InstaMed, which allows patients the convenience of saving credit card information within the online portal for quick payments on the go. With the expanded relationship, patients will also have the option to use Apple Pay® mobile payment solutions or Google Pay™ payment services at in-person care visits. “Now, our practice is a one-stop shop for patient collections,” said Matthew Pierre, chief executive officer of Loden Vision Centers, a NextGen Healthcare client based in Nashville. “The billing department can manage, view and collect payments all in one place. NextGen Pay powered by InstaMed improves the entire payment process, start to finish.” A webinar titled Trends in Healthcare Payments Annual Report: A Roadmap to the Future, set for July 21 at 2 p.m. EST, will delve into survey results and trends. Click here to register. About NextGen Healthcare, Inc. NextGen Healthcare, Inc. is a leading provider of innovative healthcare technology solutions. We are reimagining ambulatory healthcare with award-winning solutions that enable high-performing practices to create healthier communities. We partner with medical, behavioral and dental providers in their journey toward whole person health and value-based care. Our highly integrated, intelligent and interoperable solutions go beyond EHR and Practice Management to increase clinical quality and productivity, enrich the patient experience and drive superior financial performance. We are on a quest to achieve better healthcare outcomes for all. About InstaMed InstaMed, a J.P. Morgan company, is part of the firm’s Healthcare Payments business that supports clients across the Corporate and Investment Bank, Commercial Bank and Chase Business Bank. J.P. Morgan Healthcare Payments has integrated InstaMed’s solutions to deliver an end-to-end suite of payments, treasury, and banking solutions to healthcare organizations of all sizes. InstaMed powers a better healthcare payments experience and connects consumers, providers and payers for every healthcare payment transaction. InstaMed’s patented, private cloud-based technology securely transforms healthcare payments by driving electronic transactions, processing payments and moving healthcare data seamlessly, and improving consumer satisfaction. Consumers, providers and payers benefit from InstaMed’s exclusive focus on healthcare, integration into any healthcare IT system, robust analytics and proven scale.

Read More