Home > News > featured news > Stericycle Completes Divestiture of Communication Solutions Business to Carenet Health

FUTURE OF HEALTHCARE, HEALTHCARE ANALYTICS

Stericycle Completes Divestiture of Communication Solutions Business to Carenet Health

Stericycle, Inc. | December 05, 2022 | Read time : 02:00 min

Stericycle Completes

Stericycle, Inc. a leading provider of regulated medical waste management and secure information destruction solutions, announced that it has completed the divestiture of its Communication Solutions business to Carenet Health, one of the healthcare industry’s leading consumer engagement and telehealth partners, for approximately $45 million in cash, subject to customary adjustments. Stericycle intends to use the net proceeds from the divestiture to pay down outstanding debt.

Stericycle Communication Solutions provides online scheduling, automated messaging and strategic inbound and outbound call center services to drive patient access, action and adherence.   For the nine months ended September 30, 2022, the Communication Solutions business had revenues of approximately $45 million, reported in the North America segment, as part of Regulated Waste and Compliance Services revenues. In connection with the closing, Stericycle and Carenet Health entered into a purchase and transition services agreements. The divested business includes approximately 500 team members in North America.

“The sale of Stericycle Communication Solutions demonstrates our continued commitment to deliver on our portfolio optimization key business priority, marking our eleventh divestiture since 2019. By further streamlining our company, we are taking another step in our journey to focus on our core businesses and improve sustainable operational efficiencies. I would like to thank our team members transitioning to Carenet Health and wish them much success as they work to deliver better experiences and outcomes across the patient journey."

Cindy J. Miller, chief executive officer of Stericycle

About Carenet Health
Carenet Health is one of the healthcare industry’s leading consumer engagement and telehealth partners—providing consumer engagement, clinical support, virtual care and advocacy solutions on behalf of 250+ of the nation’s premier health plans, providers, health systems and Fortune 500 companies. One in four Americans have access to Carenet’s services. Carenet is headquartered in San Antonio, Texas, with additional office locations in New Mexico, Maine and the Philippines. 

About Stericycle
Stericycle, Inc., is a U.S. based business-to-business services company and leading provider of compliance-based solutions that protects people and brands, promotes health and well-being, and safeguards the environment. Stericycle serves customers in the U.S. and 16 countries with solutions for regulated waste and compliance services and secure information destruction. 

Spotlight

Healthcare with Heart | National Wear Red Day®

Today is National Wear Red Day®. The Dartmouth Hitchcock Medical Center Heart and Vascular Center team cares about their loved ones, friends, neighbors and patients.

More featured news

Spotlight

Healthcare with Heart | National Wear Red Day®

Today is National Wear Red Day®. The Dartmouth Hitchcock Medical Center Heart and Vascular Center team cares about their loved ones, friends, neighbors and patients.

Related News

HEALTH TECHNOLOGY, MEDICAL DEVICES

Sharecare Designs VR Program to Ensure Wellbeing of American Workforce

Sharecare | January 30, 2023

Sharecare, one of the leading digital health companies, has recently launched Get Active, a virtual reality program to make exercise an innovative, inspiring workforce towards well-being. This program reports 82% engagement and 280% increase in average exercise span in a week of the healthy and high-risk employees of Lennar Corporation, one of the significant homebuilding companies in the U.S. It gives immediate health benefits, improves sleep quality, immunes from chronic diseases, reduces anxiety and blood pressure, and reverses pre-diabetes. Dr. Pascal Goldschmidt, Chief Medical Officer of Lennar Corporation, said, "At Lennar, we believe deeply in empowering our entire workforce to be fit for adaptability – and physical activity is core to fulfilling that goal." He added, "While I was optimistic going into this pilot, engagement across the board exceeded our expectations and feedback from our highest risk associates has been very positive. Sharecare has demonstrated its continued commitment to innovation and driving sustained employee engagement, and we are excited to expand Get Active to more Lennar Associates this year." (Source – Cision PR Newswire) This program designs gamified physical exercise experiences for employees through Meta Quest 2. It paved the way for the well-being of the disabled and those who prefer home workouts over public gyms. Its virtual activity features stretching to basketball exercises with standing and seating positions. William Janis, Senior Vice President of Health Advocacy at Sharecare, stated, "We have a strong track record of investing in innovation, including VR, to improve our comprehensive wellbeing platform and the employee experience, and the initial feedback on Get Active from Lennar's Associates is both encouraging and inspiring." He added, "We are excited to differentiate our whole health benefits offering on behalf of our partners and their populations with a unique and approachable program that's fun and naturally engaging for employees of all fitness levels while improving outcomes and reducing costs." (Source – Cision PR Newswire) About Sharecare Sharecare is a prominent digital health company that provides comprehensive and personalized fitness and evidence-based programs with advice from health professionals. With the help of technology, it has innovated physical exercise by adhering to clinical protocols and utilizing updated coaching tools. It connects doctors, employers, updated digital tools, and health plans and provide quality information in one platform. It helps employers, service providers, health-conscious people, government organizations, and communities.

Read More

HEALTH TECHNOLOGY, DIGITAL HEALTHCARE

Ventra Health Acquires Deras Global, Expands to Philippines

Ventra Health | February 22, 2023

On February 21, 2023, Ventra Health, a leading revenue cycle management company, announced that it has successfully acquired Deras Global Services, a dependable provider of RCM services for hospital-based physician specialties based in the Philippines. Ventra Health is a technology-driven company providing practice management and advisory services, in addition to RCM, for hospital-based physician specialties. This acquisition enables Ventra Health's entry into the Philippine market, expanding its global footprint and enhancing its capabilities in delivering RCM services. In addition, this marks a significant milestone in Ventra Health's global workforce development and service-delivery strategy. The transaction is another successful move in a busy first quarter for the renowned Physician RCM platform. Steven Huddleston, Ventra Health CEO, shared, "Moving fast on accretive opportunities that enhance client delivery and growth is my top priority. We will continue to move aggressively when opportunities present themselves." (Source – Cision PR Newswire) Ventra Health's acquisition of Deras Global Services marks the company's expansion of its global presence, bringing its services to the Clark Freeport and Special Economic Zone. With over 300 employees and additional capacity for future growth, this acquisition represents a significant expansion of Ventra Health's operations in the region. About Ventra Health Ventra Healthis a leading provider of high-performance business solutions for physician practices, hospitals, and health systems, specializing in anesthesia, emergency medicine, and hospital medicine. The company partners with private practices, hospitals, health systems, and physician management organizations to deliver innovative solutions that solve healthcare providers' most complex revenue and reimbursement challenges. Its comprehensive range of solutions includes revenue generation, finance and operations, workflow re-engineering, and healthcare trend insight. Founded in 2021, Ventra Health is the result of a merger between Abeo, DuvaSawko, and Gottlieb, three prominent revenue cycle management companies in their respective fields.

Read More

HEALTH TECHNOLOGY, FUTURE OF HEALTHCARE

Masimo Centroid® Awarded Innovative Technology Designation by Vizient

Masimo | February 16, 2023

On February 15, 2023, Masimo announced that Centroid®, its wearable, wireless patient activity and orientation sensor, has been given the Innovative Technology designation by Vizient, Inc., a leading healthcare performance improvement company in the US. In conjunction with the Masimo Root® Patient Monitoring and Connectivity platform, Masimo displayed Centroid® at the Vizient Innovative Technology Exchange in Dallas last October. Healthcare experts on Vizient member-led councils evaluate products and technologies yearly to improve patient safety, healthcare worker safety, clinical care, or healthcare organizations’ business operations. In addition, innovative Technology designations are given to previously contracted products to highlight their positive impact on patient care and business models. Masimo Centroid® helps clinicians monitor patient position to prevent hospital-acquired pressure injuries (HAPIs), which affect nearly 2.5 million US patients each year and directly cause mortality of almost 60,000. It can also alert clinicians to sudden movements like falls. Additionally, it detects chest movements to consistently provide respiration rate, helping clinicians make better care decisions. Centroid® uses Bluetooth® to pair with Root® and track patient posture, orientation, and activity. Centroid data can also be shared via Masimo Hospital AutomationTM to Patient SafetyNetTM, a centralized remote patient supplemental monitoring platform by Masimo, and Replica®, a mobile app that lets clinicians view continuous data from anywhere. Connecting to the Masimo Hospital AutomationTM also allows clinicians to automate patient turn charting in EMRs, run reports and analytics to direct resources, and improve turn protocol adherence. The National Pressure Injury Advisory Panel (NPIAP) recommends scheduled turning protocols to prevent HAPIs. However, most US hospitals still use paper wall clocks or egg timers, which are outdated and ineffective in modern healthcare. In addition, staff shortages and competing priorities have stressed nurses, and it is challenging to keep track of the last time a patient was turned without a more sophisticated system like Masimo Centroid®. About Masimo Masimo is a pioneering medical technology company that designs and manufactures an extensive range of industry-leading monitoring technologies based in Irving, California. The company offers groundbreaking measurements, patient monitors, sensors, and automation and connectivity solutions. Its mission is to enhance the quality of life, patient outcomes, and healthcare costs. Through constant innovation, the company built a portfolio of clinically proven offerings that set the standard for modernization, performance, and patient safety by availing healthcare providers with the necessary data to boost clinical decision-making.

Read More

HEALTH TECHNOLOGY, MEDICAL DEVICES

Sharecare Designs VR Program to Ensure Wellbeing of American Workforce

Sharecare | January 30, 2023

Sharecare, one of the leading digital health companies, has recently launched Get Active, a virtual reality program to make exercise an innovative, inspiring workforce towards well-being. This program reports 82% engagement and 280% increase in average exercise span in a week of the healthy and high-risk employees of Lennar Corporation, one of the significant homebuilding companies in the U.S. It gives immediate health benefits, improves sleep quality, immunes from chronic diseases, reduces anxiety and blood pressure, and reverses pre-diabetes. Dr. Pascal Goldschmidt, Chief Medical Officer of Lennar Corporation, said, "At Lennar, we believe deeply in empowering our entire workforce to be fit for adaptability – and physical activity is core to fulfilling that goal." He added, "While I was optimistic going into this pilot, engagement across the board exceeded our expectations and feedback from our highest risk associates has been very positive. Sharecare has demonstrated its continued commitment to innovation and driving sustained employee engagement, and we are excited to expand Get Active to more Lennar Associates this year." (Source – Cision PR Newswire) This program designs gamified physical exercise experiences for employees through Meta Quest 2. It paved the way for the well-being of the disabled and those who prefer home workouts over public gyms. Its virtual activity features stretching to basketball exercises with standing and seating positions. William Janis, Senior Vice President of Health Advocacy at Sharecare, stated, "We have a strong track record of investing in innovation, including VR, to improve our comprehensive wellbeing platform and the employee experience, and the initial feedback on Get Active from Lennar's Associates is both encouraging and inspiring." He added, "We are excited to differentiate our whole health benefits offering on behalf of our partners and their populations with a unique and approachable program that's fun and naturally engaging for employees of all fitness levels while improving outcomes and reducing costs." (Source – Cision PR Newswire) About Sharecare Sharecare is a prominent digital health company that provides comprehensive and personalized fitness and evidence-based programs with advice from health professionals. With the help of technology, it has innovated physical exercise by adhering to clinical protocols and utilizing updated coaching tools. It connects doctors, employers, updated digital tools, and health plans and provide quality information in one platform. It helps employers, service providers, health-conscious people, government organizations, and communities.

Read More

HEALTH TECHNOLOGY, DIGITAL HEALTHCARE

Ventra Health Acquires Deras Global, Expands to Philippines

Ventra Health | February 22, 2023

On February 21, 2023, Ventra Health, a leading revenue cycle management company, announced that it has successfully acquired Deras Global Services, a dependable provider of RCM services for hospital-based physician specialties based in the Philippines. Ventra Health is a technology-driven company providing practice management and advisory services, in addition to RCM, for hospital-based physician specialties. This acquisition enables Ventra Health's entry into the Philippine market, expanding its global footprint and enhancing its capabilities in delivering RCM services. In addition, this marks a significant milestone in Ventra Health's global workforce development and service-delivery strategy. The transaction is another successful move in a busy first quarter for the renowned Physician RCM platform. Steven Huddleston, Ventra Health CEO, shared, "Moving fast on accretive opportunities that enhance client delivery and growth is my top priority. We will continue to move aggressively when opportunities present themselves." (Source – Cision PR Newswire) Ventra Health's acquisition of Deras Global Services marks the company's expansion of its global presence, bringing its services to the Clark Freeport and Special Economic Zone. With over 300 employees and additional capacity for future growth, this acquisition represents a significant expansion of Ventra Health's operations in the region. About Ventra Health Ventra Healthis a leading provider of high-performance business solutions for physician practices, hospitals, and health systems, specializing in anesthesia, emergency medicine, and hospital medicine. The company partners with private practices, hospitals, health systems, and physician management organizations to deliver innovative solutions that solve healthcare providers' most complex revenue and reimbursement challenges. Its comprehensive range of solutions includes revenue generation, finance and operations, workflow re-engineering, and healthcare trend insight. Founded in 2021, Ventra Health is the result of a merger between Abeo, DuvaSawko, and Gottlieb, three prominent revenue cycle management companies in their respective fields.

Read More

HEALTH TECHNOLOGY, FUTURE OF HEALTHCARE

Masimo Centroid® Awarded Innovative Technology Designation by Vizient

Masimo | February 16, 2023

On February 15, 2023, Masimo announced that Centroid®, its wearable, wireless patient activity and orientation sensor, has been given the Innovative Technology designation by Vizient, Inc., a leading healthcare performance improvement company in the US. In conjunction with the Masimo Root® Patient Monitoring and Connectivity platform, Masimo displayed Centroid® at the Vizient Innovative Technology Exchange in Dallas last October. Healthcare experts on Vizient member-led councils evaluate products and technologies yearly to improve patient safety, healthcare worker safety, clinical care, or healthcare organizations’ business operations. In addition, innovative Technology designations are given to previously contracted products to highlight their positive impact on patient care and business models. Masimo Centroid® helps clinicians monitor patient position to prevent hospital-acquired pressure injuries (HAPIs), which affect nearly 2.5 million US patients each year and directly cause mortality of almost 60,000. It can also alert clinicians to sudden movements like falls. Additionally, it detects chest movements to consistently provide respiration rate, helping clinicians make better care decisions. Centroid® uses Bluetooth® to pair with Root® and track patient posture, orientation, and activity. Centroid data can also be shared via Masimo Hospital AutomationTM to Patient SafetyNetTM, a centralized remote patient supplemental monitoring platform by Masimo, and Replica®, a mobile app that lets clinicians view continuous data from anywhere. Connecting to the Masimo Hospital AutomationTM also allows clinicians to automate patient turn charting in EMRs, run reports and analytics to direct resources, and improve turn protocol adherence. The National Pressure Injury Advisory Panel (NPIAP) recommends scheduled turning protocols to prevent HAPIs. However, most US hospitals still use paper wall clocks or egg timers, which are outdated and ineffective in modern healthcare. In addition, staff shortages and competing priorities have stressed nurses, and it is challenging to keep track of the last time a patient was turned without a more sophisticated system like Masimo Centroid®. About Masimo Masimo is a pioneering medical technology company that designs and manufactures an extensive range of industry-leading monitoring technologies based in Irving, California. The company offers groundbreaking measurements, patient monitors, sensors, and automation and connectivity solutions. Its mission is to enhance the quality of life, patient outcomes, and healthcare costs. Through constant innovation, the company built a portfolio of clinically proven offerings that set the standard for modernization, performance, and patient safety by availing healthcare providers with the necessary data to boost clinical decision-making.

Read More

More featured news