Aktana | September 28, 2022
Aktana, the leader in intelligent customer engagement for the global life sciences industry, welcomes Deepak Patil as its new senior director of medical strategy. Patil comes to Aktana after leadership roles at IBM Watson Health, IQVIA, and Sun Pharma Industries where he managed medical affairs in conjunction with six key product launches and developed lasting relationships with key opinion leaders in targeted therapeutic areas. At Aktana, Patil will lead the company’s medical affairs program, initially helping to build modern, data-driven solutions for medical science liaisons but over time, also expand to other areas within medical affairs.
Medical Affairs is the “third strategic pillar of the pharmaceutical organization alongside R&D and commercial, as science and data merge,” according to a McKinsey report. Business models are starting to evolve both around and beyond the “product” to encompass the wider therapeutic context, while organizations seek to explain and contextualize the ever more complex medical science to a diverse range of stakeholders. In outreach efforts, MSLs and commercial teams can unintentionally overlap, causing major compliance issues and frustrating doctors. Aktana’s intelligence solutions will not only help medical affairs improve key opinion leader relationships but also better orchestrate outreach to the physician community in compliance with regional engagement regulations.
“Deepak brings a unique blend of medical experience – he received his medical degree in India – plus data science and operational expertise from IQVIA and IBM. As we prioritize new, AI-driven solutions for medical affairs teams, Deepak will help expertly shape our new offerings while building a powerhouse team focused on this increasingly important area of life sciences.”
Clay Hausmann, chief revenue officer at Aktana
Aktana has also announced a strategic partnership with Envision Pharma Group, a global, technology-enabled scientific communications company operating across many areas of medical affairs. Envision and Aktana will combine their offerings to help MSLs address HCP demands for personalized scientific content and coordinated omnichannel engagement.
“Aktana is committed to enabling the medical affairs organization in a new era, and I’m excited to serve in a leadership role as part of this endeavor,” said Deepak Patil. “The real-world data is there. With the right technology, we have the power to improve the generation and dissemination of scientific insights to physicians, leading to better treatment decisions and outcomes for their patients.”
With more than 300 deployments across 50+ use cases, Aktana has been refining its commercial life sciences intelligence platform for more than a decade. More than half of the world's top-20 pharmaceutical companies rely on Aktana to coordinate and optimize personalized omnichannel engagement with HCPs. Aktana’s Contextual Intelligence 360 platform is powered by the company’s next-generation Contextual Intelligence Engine, which uses AI-driven optimization to predict the value of all potential customer experiences, then prioritize and recommend Next Best Engagements that will deliver the highest ROI.
Aktana is the category creator and leader of intelligent engagement in the global life sciences industry. By ensuring that every customer experience is tailored to individual preferences and needs, Aktana helps life science companies strengthen their relationships with healthcare providers to inspire better patient care. Today, commercial and medical teams from more than 300 brands use Aktana’s AI-enabled Contextual Intelligence Engine to coordinate and optimize personalized omnichannel engagement at scale. More than half of the top-20 global pharmaceutical companies are Aktana customers. Headquartered in San Francisco, Aktana has offices in every major biopharma region around the world.
Stellar Health | October 19, 2022
Stellar Health a healthcare technology company changing the way health insurers and providers activate value-based care arrangements, announced the expansion of their value-based care initiative with Highmark Inc. upon results of its initial program that improved quality and chronic condition management across Highmark's Medicare Advantage and Commercial lines of business.
Stellar announced the collaboration in 2021 to help Highmark accelerate new payment models and value-based care for independent practices in Pennsylvania. This initiative, called True Performance Lite, was an extension of Highmark's existing True Performance PCP Suite Program aimed at serving larger providers.
The True Performance Lite program used Stellar's unique incentive design that rewards providers and staff for completing granular VBC actions focused on quality improvement, management of chronic conditions, reduced ED and inpatient utilization, and affordability of care for Highmark members. The program saw strong results across VBC metrics compared to 2020:
The program also saw high engagement and satisfaction across providers involved in the True Performance Lite program.
"I wish all health plans had program, it's the easiest of all platforms by far," said Renee Guistwite, Office Manager from Guistwite Family Practice.
Cathy, an Office Manager from Dr. Dana E Bragg MD's office says "This app is really easy. Every part is user-friendly and it doesn't take much time now that we have a workflow going. We are really excited about Stellar!"
Stellar's web-based, cloud-native, point-of-care application leverages historical patient information to prompt primary care providers and their care teams of gaps and opportunities relating to patients' healthcare regimens for Highmark members. Stellar Health partners with health insurers to enable providers and their staff to engage in these value-based opportunities through the application with granular action recommendations, ensure success in closing gaps, and pairs each action with a financial incentive for the time it takes to complete it.
In 2022, Stellar and Highmark expanded the True Performance Lite program into Pennsylvania, West Virginia, and Delaware supporting over 60+ provider groups across multiple lines of business and are continuing to build on the overall momentum and results in 2023. The companies are continuing to innovate on new ways to engage the Highmark network and drive outsized results through several cost and utilization initiatives as they bring the model to new provider profiles.
"Our provider-centric model lends itself to the success we have seen with Highmark over the last year as they lead value-based care delivery in the Mid-Atlantic region. We look forward to expanding with multiple lines of business to allow providers who handle all types of coverage to meaningfully participate in VBC and help deliver better primary care for all patients."
Michael Meng, CEO of Stellar Health
About Stellar Health
Stellar Health is a healthcare technology company focused on enabling success across the value-based care continuum by bridging the incentive gap between providers and payors. The Stellar solution is the first point-of-care, cloud-based platform that helps primary care providers continually engage with their patients by providing them real-time information and tangible action-based incentives for improving quality of care. With Stellar, providers can achieve a range of VBC goals, like improving quality scores and optimizing the patient care journey through transitions of care and high-value referrals, all with the objective of improving patient health.
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.
Annuo Medical Technology Solutions Pty Ltd | October 17, 2022
New health networking platform, Annuo™, has entered a working agreement with WeKo GP to assist with the identification and treatment of patients with chronic disease in Australia.
This key partnership will facilitate the management of people living with chronic disease by General Practice teams using WeKo and Annuo™.
WeKo’s Clinical System solution launched in 2019 and provides proactive chronic disease screening and detection based on patient medical data.
“We believe our solutions are highly complementary and have the ability to offer an amazing patient and clinician experience,” commented WeKo Founder, Ross Hadfield.
“We are excited to announce a trial partnership between Annuo and WeKo GP which will open up more possibilities for Annuo™ to help the 10.8M Australians currently living with chronic disease,”
Dr Jeni Wellington, Founder and CEO of Annuo Med Tech Solutions
At a high-level, the partnership will facilitate the identification and treatment of patients at high risk of chronic disease, using the Annuo platform and WeKo’s Clinical System. It will ensure patients are engaged in the creation of an agreed care plan and that the clinical teams involved are fully supported.
About Annuo Med Tech
Annuo Med Tech Solutions is a new Australian digital health technology company developing Annuo - a healthcare networking platform for doctors, patients and allied health professionals. Annuo™, is the first medical networking platform in Australia designed by specialists.
More than that, Annuo™ is advocating for collaborative care for patients living with chronic disease in Australia. With 47% of Australians today living with one or more chronic diseases, there has never been a better time to help improve the lives of everyday people trying to navigate their treatment.
Annuo™ encourages people living with chronic disease to engage with their treatment in an holistic way. Annuo promotes collaborative care for patients and is inclusive of those seeking to make diet, exercise and alternate therapies as part of their treatment planning. Annuo™ will engage with healthcare providers and enable them to better connect with their patients through the digital health space. The platform comes fully customised for each medical specialty at a competitive price.