HEALTH TECHNOLOGY

Change Healthcare Joins OptumInsight to Advance a More Modern, Information and Technology-Enabled Health Care Platform

Optum | January 07, 2021

Optum, a diversified health services organization and part of UnitedHealth Group (NYSE: UNH), and Change Healthcare (NASDAQ: CHNG), a health care technology pioneer, have consented to join. Change Healthcare will get together with OptumInsight to give programming and information investigation, technology-empowered services and examination, warning and income cycle the executives contributions to help make health care turn out better for everybody.

This combination joins two technology and administration organizations zeroed in on serving health care. Their consolidated capacities will all the more adequately interface and rearrange center clinical, managerial and installment measures - bringing about better health results and encounters for everybody, at lower cost. Change Healthcare brings key advances, associations and progressed clinical choice, authoritative and monetary help capacities, empowering better work process and conditional availability across the health care framework. Optum brings current investigation, exhaustive clinical ability, creative innovations and broad involvement with improving operational and clinical execution.

“Together we will help streamline and inform the vital clinical, administrative and payment processes on which health care providers and payers depend to serve patients,” said Andrew Witty, President of UnitedHealth Group and CEO of Optum. “We’re thrilled to welcome Change Healthcare’s highly skilled team to create a better future for health care.”

“This opportunity is about advancing connectivity and accelerating innovations and efficiencies essential to a simpler, more intelligent and adaptive health system. We share with Optum a common mission and values and importantly, a sense of urgency to provide our customers and those they serve with the more robust capacities this union makes possible,” said Neil de Crescenzo, President and CEO of Change Healthcare. Upon closing, Mr. de Crescenzo will serve as OptumInsight’s chief executive officer, leading the combined organization.

Some of the key opportunities to enhance the health care system include:

  • The combined company will help clinicians make the most informed and clinically advanced patient care decisions, more quickly and easily. Change Healthcare brings widely adopted technology for integrating evidence-based clinical criteria directly into the clinician’s workflow, while Optum’s clinical analytics expertise and Individual Health Record can strengthen the evidence base needed to deliver effective clinical decision support at the point of care. This can ensure appropriate sites of care and consistently achieve the best possible health, quality and cost outcomes.
  • Complexities across the health system result in significant levels of administrative waste. The combined company will be well positioned to make health care simpler, more efficient and more effective. A key opportunity is to enhance with insights drawn from billions of claims transactions using Change Healthcare’s intelligent health care network, combined with Optum’s advanced data analytics. This will support significantly faster, more informed and accurate services and processing.
  • Change Healthcare’s payment capacities combined with Optum’s highly automated payment network will simplify financial interactions among care providers, payers and consumers and accelerate the movement to a more modern, real-time and transparent payment system. This will ensure physicians get paid more quickly, accurately and reliably, and provide consumers the same simplicity and convenience managing their health care finances they experience with other transactions. Change Healthcare brings deep patient communication capabilities, engaging more than 200 million unique individuals each year. Integrating these engagements with people’s health financial benefits will make it simpler for consumers and enhance alignment with incentive programs which reward healthy behaviors.

“Change Healthcare has made significant progress executing its strategic objectives, including advancing innovation, accelerating growth and improving the effectiveness of the U.S. health system,” said Howard Lance, Chairman of the Board of Directors of Change Healthcare. “We are delighted to have in Optum a partner that shares a common vision of creating a better future for health care for the people and communities we serve and see this combination as in the best interests of all of our stakeholders.”

The arrangement requires the securing of Change Healthcare's basic stock for $25.75 per share in real money and is relied upon to shut in the second 50% of 2021, subject to Change Healthcare investors' endorsement, administrative endorsements and other standard shutting conditions. Private value finances associated with The Blackstone Group, which own around 20% of the regular supply of Change Healthcare, have consented to cast a ballot the offers they control for the combination.

The securing is relied upon to be accretive to UnitedHealth Group's net and changed income per share by around $0.20 and $0.50 individually in 2022, progressing emphatically in ensuing years, comprehensive of speculations to quicken technology, framework and item coordination and advancement exercises to all the more rapidly convey the estimation of this combination to all health care framework partners. Changed income reject from net profit just the after-charge non-money amortization cost relating to obtaining related immaterial resources.

About Optum

Optum is a leading information and technology-enabled health services business dedicated to helping make the health system work better for everyone. With more than 190,000 people worldwide, Optum delivers intelligent, integrated solutions that help to modernize the health system and improve overall population health. Optum is part of UnitedHealth Group (NYSE: UNH).

About Change Healthcare

Change Healthcare (NASDAQ: CHNG) is a leading independent healthcare technology company, focused on accelerating the transformation of the healthcare system through the power of the Change Healthcare Platform. We provide data and analytics-driven solutions to improve clinical, financial, administrative, and patient engagement outcomes in the U.S. healthcare system.

Spotlight

Albert Einstein Hospital presents a video talking about how suicide is a silent disease that deserves our attention. The psychiatrist Dr. Alfredo Maluf explains what are the main signs and how to assist a person who is thinking about committing such an act.


Other News
FUTURE OF HEALTHCARE

NextGen Healthcare Partners with Circuit Clinical to Bolster Diversity in Clinical Trials by Extending Access to Underserved Communities

NextGen Healthcare, Inc. | May 05, 2022

NextGen Healthcare, Inc. a leading provider of innovative, cloud-based healthcare technology solutions, announced a partnership with Circuit Clinical to bring clinical trial access to patients of Federally Qualified Health Centers through over 14,000 providers that utilize NextGen Healthcare solutions. Historically, these underserved communities have not had easy access to participate in transformative clinical research that can provide enhanced treatment options. Such research-as-care can also improve health outcomes and offers revenue generation for the clinics that participate. NextGen Healthcare’s innovative collaboration with Circuit Clinical, whose mission is to transform how patients find and choose clinical trials by bringing them to the doctors they know and trust, will improve the participation of diverse patients in clinical trials and provide greater health equity by facilitating access to the underserved. “This partnership underscores NextGen Healthcare’s commitment to FQHCs and highlights our commitment to serving diverse patient populations. NextGen Healthcare’s technology is empowering providers to build healthier communities. Our work with Circuit Clinical is a milestone that provides real impact for our clients and their patients, and delivers on our pledge to facilitate better healthcare outcomes for all.” Srinivas (Sri) Velamoor, chief growth and strategy officer at NextGen Healthcare The collaboration contributes to the vision of the NextGen® Community Health Collaborative, a first-of-its-kind initiative announced late last year that offers data benchmarking, comparative analytics and reporting services, plus a forum for members to connect and share best practices to advance the mission of community health and health equity among underserved populations. NextGen Healthcare-powered practices, in conjunction with Circuit Clinical, will now be able to offer clinical trial patient recruitment, referral and enrollment services, eliminating obstacles to such care. Furthermore, participation provides tangible benefits to participants, including extra care visits without co-pays, therapeutic improvement on a better regimen, and patient stipends. “Our partnership with NextGen Healthcare will create a comprehensive solution for improving access to clinical trials for diverse communities across the country,” said Dr. Irfan Khan, founder and chief executive officer of Circuit Clinical. “Combining NextGen Healthcare’s comprehensive data insights and national reach with Circuit Clinical’s expert ecosystem offers pharmaceutical, biotech and vaccine companies a groundbreaking opportunity for accelerating therapeutic development and improving diversity in clinical trials.” In April, the Food & Drug Administration (FDA) issued updated guidance to provide recommendations to those developing medical products on the approach for developing a Race and Ethnicity Diversity Plan to help enroll adequate numbers of participants in clinical trials from underrepresented racial and ethnic populations. Adequate representation in clinical trials helps ensure that the data generated reflects the racial and ethnic diversity of the intended use population and may potentially identify safety or efficacy outcomes, the FDA said. 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 Circuit Clinical Circuit Clinical®, one of the largest integrated research organizations in the USA, is dedicated to empowering patients to choose clinical research as a care option. Circuit Clinical® is committed to transforming the way physicians and their patients find, choose, and participate in clinical research. The company delivers clinical research services and an award-winning patient engagement platform, trialjourney.com.

Read More

FUTURE OF HEALTHCARE

Iris Telehealth Engages Amendola for Strategic PR and Media Relations Services

Amendola Communications | April 27, 2022

Amendola Communications, a nationally recognized, award-winning healthcare and technology marketing and public relations firm, announced that Iris Telehealth, a leading provider of telepsychiatry services for community mental health centers, community health centers, hospitals, and health systems across the U.S., has selected the firm to manage PR, media relations, and thought leadership. Iris conducted an extensive agency search and selected Amendola for its successful track record, industry acumen, and bench strength. "The COVID-19 pandemic has magnified the importance of addressing mental health as a part of overall public health. Providing easy and convenient access to accredited psychiatric services from quality behavioral health professionals is essential to this effort. Iris Telehealth's use of telemedicine to expand clinically sound psychiatric services to patients and healthcare organizations is making a tangible impact in this regard, and we're enthused to help execute their vision of enabling a better world through healthy minds." agency CEO Jodi Amendola Amendola is implementing a comprehensive public relations, thought leadership, communications, and media plan for Iris Telehealth that will showcase its value proposition, services, accomplishments, customer wins, and industry partnerships. The agency successfully kicked off the relationship by supporting the Austin, Texas-based company's recent Series B funding. Amendola garnered significant media coverage for this major milestone, including an audience reach of more than 61 million via placements in high-profile healthcare trade and business media such as MobiHealthNews, MedCity News, Digital Health Business and Technology, Axios, Fortune, and STAT as well as local Austin media. "There's a nationwide need to provide timely, quality behavioral healthcare, and our track record shows we can help health systems and community organizations sustainably improve care for their communities," said Dan Ferris, Chief Marketing Officer of Iris Telehealth. "We're teaming up with Amendola Communications to drive awareness of our unique value to the healthcare market and our mission of supporting the mental wellbeing of patient populations that need it most. Our Series B announcement was our first effort to gain more market awareness and we know that with Amendola's help, this is just the beginning." Iris Telehealth has grown exponentially over the last 18 months as healthcare organizations seek to provide timely, quality care to their patients. Iris's combination of high-quality providers, best-in-class support, expertise to optimize care models, and technology has enabled customers to reimagine how behavioral health services are provided across the continuum of care. About Amendola Communications Amendola is an award-winning, insights-driven public relations and marketing firm that integrates media relations, social media, content, and lead gen programs to move healthcare, life sciences/pharma and healthcare IT decision-makers to action. The agency represents some of the industry's best-known brands as well as groundbreaking startups that are disrupting the status quo. Nearly 90% of its client base represents multi-year clients and/or repeat client executives. Amendola's seasoned team of PR and marketing pros understand the ongoing complexities of the healthcare ecosystem and provide strategic guidance and creative direction to drive positive ROI, boost reputation and increase market share. Making an impact since 2003, Amendola combines traditional and digital media to fuel meaningful and measurable growth. About Iris Telehealth Iris Telehealth helps healthcare organizations consistently increase access to quality mental healthcare for their patients by providing the clinicians, staff support, and knowledge to build a sustainable telepsychiatry department. With clinical grounding and emphasis on human relationships, Iris Telehealth identifies best-fit providers for each unique organization and ensures long-term commitment to meeting their partner's needs, allowing them to provide the highest quality care to their patients and community.

Read More

FUTURE OF HEALTHCARE

Peloton Announces Growth Recapitalization of Grenova

Peloton Equity | March 22, 2022

Peloton Equity, LLC a Connecticut-based private equity firm that seeks to invest growth capital in innovative healthcare companies, announced that it has closed a growth and recapitalization investment in Grenova, Inc. a fast-growing manufacturer of green technology for the life sciences industry. Peloton, along with Hamilton Lane Impact Fund II and Morgan Stanley AIP Private Markets, invested growth capital and partnered with management and other investors to acquire a majority stake in Richmond, Virginia-based Grenova. The transaction is anticipated to enable Grenova to accelerate its sales and marketing efforts, launch additional products, and build out its presence globally. Ali Safavi, founder, president and CEO of Grenova, along with other management and certain existing shareholders will retain a significant ownership stake in the Company. Financial terms of the transaction were not disclosed. Founded in 2014 by Ali Safavi, Grenova designs, manufactures, and distributes instruments and associated consumables to the lab industry. The Company’s technology enables its customers – clinical labs, pharmaceutical/biotech companies, research institutions, agricultural companies, and others – to wash, dry and re-use single-use plastics. Grenova’s products aim to advance healthcare toward a more sustainable future by lowering costs in the laboratory industry, reducing biohazard waste in the environment, and mitigating supply chain risk for plastic consumables. “I am thrilled to be partnering with Peloton to help Grenova capitalize on the massive and unmet need for sustainability solutions in laboratories around the world,” said CEO Ali Safavi. “Peloton’s expertise and network will bring additional resources and business development opportunities to Grenova, and this growth-oriented transaction will help us accelerate the industry’s adoption of our innovative products and technologies.” “Peloton seeks to partner with high-growth companies like Grenova that deliver tangible and enduring value to the healthcare industry. The utilization of disposable plastics in the lab setting is rapidly growing and we are excited to support Grenova’s mission to address this unsustainable trend.” Michael O’Rourke, partner at Peloton, added, “We believe Grenova’s combination of differentiated product technology, sustainability value proposition and high-quality customer service is unique in the massive and growing life sciences tools industry. We are very excited to work with Ali and his team in supporting Grenova’s next phase of growth.” Ted Lundberg, partner and co-founder of Peloton Equity Crosstree served as the exclusive financial advisor to Grenova with respect to this transaction. Goodwin Procter LLP acted as legal advisor to Peloton and Williams Mullen acted as legal advisor to the Company. About Grenova Founded in 2014, Grenova™ is an innovative company that is revolutionizing lab consumables through high-quality waste reduction solutions. Grenova’s mission is to lower costs in the laboratory industry and reduce biohazard waste in the environment by delivering groundbreaking approaches in dealing with plastic consumables. Grenova’s existing products include the TipNovusTM family of pipette tip-washing solutions for labs such as the Automated TipNovus (ATN) Package, a fully integrated tip-washing solution; the TipLumisTM family of HEPA-filtered, temperature-controlled, UV-sanitized tip storage solutions; GrenoClean, a proprietary and scientifically validated cleaning solution; and Purus by Grenova™, a novel microwell plate cleaner launching in 2022. For more information, visit Grenova. About Peloton Equity Peloton Equity, LLC is a private equity firm focused exclusively on growth capital investments in the healthcare industry. Peloton was formed in 2014 as the successor firm to Ferrer Freeman & Company and invests in companies with between $10 million and $200 million of revenue that have the management team, market opportunity and business model to grow revenues significantly over the life of its investment. Peloton seeks to be a significant investor in companies with high-growth potential, driven by a clear value proposition to the healthcare industry. Peloton’s investment team has invested in over 35 unique healthcare companies and has deployed over $800 million in capital. Recent investments include AeroSafe Global, ClearSky Health, Friday Health Plans, and Journey Health & Lifestyle. About Hamilton Lane Hamilton Lane is a leading private markets investment management firm providing innovative solutions to sophisticated investors around the world. Dedicated exclusively to private markets investing for 30 years, the firm currently employs more than 520 professionals operating in offices throughout North America, Europe, Asia Pacific and the Middle East. Hamilton Lane has $851 billion in assets under management and supervision, composed of over $98 billion in discretionary assets and nearly $753 billion in advisory assets, as of December 31, 2021. Hamilton Lane specializes in building flexible investment programs that provide clients access to the full spectrum of private markets strategies, sectors and geographies. About Morgan Stanley AIP Private Markets AIP Private Markets, an investment team within Morgan Stanley Investment Management, seeks to deliver innovative private markets solutions to a global client base. It’s built-for-purpose team of ~60 dedicated professionals draws.

Read More

HEALTH TECHNOLOGY

Reliq Health Technologies, Inc. Signs Agreement with Cognizant to Expand Care Management Capabilities to Large Scale Clients

Reliq Health Technologies | January 06, 2022

Reliq Health Technologies Inc., a rapidly growing global healthcare technology company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, today announced an agreement with Cognizant to leverage Cognizant’s Care Management resources for future deployments of Reliq’s iUGO Care software to large scale clients. Cognizant provides services to 300+ health systems and over 347,000 care providers who together provide care to over 200 million lives globally. “We are excited to be expanding our Care Management capabilities by leveraging Cognizant’s extensive resources, network, and experience in healthcare. Cognizant will be able to rapidly deploy a full suite of Care Management services to our largest new iUGO Care customers going forward. Reliq will continue to achieve the same or better profit margins on the Care Management component of our revenue as a result of this partnership but will be able to deploy our full-service solution (iUGO Care software plus Care Management services) to very large clients much faster. Our agreement with Cognizant will allow us to scale to new levels and provide even the largest healthcare organizations with confidence that we can meet the needs of their patient populations, no matter the size. This agreement will allow Reliq to access new opportunities to provide virtual care to much larger patient populations both within the US and globally.” Dr. Lisa Crossley, CEO of Reliq Health Technologies, Inc. Reliq’s iUGO Care solutions improve health outcomes, allow clinicians to provide high quality care to patients anytime, anywhere, and reduce the cost to the healthcare system, benefiting patients, clinicians and payers. Reliq’s iUGO Care and iUGO Home products are a critical component of a fully connected healthcare system. Reliq’s remote patient monitoring platform, iUGO Care, is currently used by a diverse array of healthcare organizations in the US. These include primary care practices, specialist practices, home care agencies, skilled nursing facilities, HIV clinics and hospice care agencies. The agreement with Cognizant will expand Reliq’s capabilities and extend its reach, allowing Reliq to provide its iUGO Care solution to managed care organizations, large health systems and health insurance providers. About Cognizant Cognizantengineers modern businesses. We help our clients modernize technology, reimagine processes and transform experiences so they can stay ahead in our fast-changing world. Together, we're improving everyday life. About Reliq Health Reliq Health Technologies is a rapidly growing global healthcare technology that specializes in developing innovative Virtual Care solutions for the multi-billion dollar Healthcare market. Reliq’s powerful iUGO Care platform supports care coordination and community-based virtual healthcare. iUGO Care allows complex patients to receive high quality care at home, improving health outcomes, enhancing quality of life for patients and families and reducing the cost of care delivery. iUGO Care provides real-time access to remote patient monitoring data, allowing for timely interventions by the care team to prevent costly hospital readmissions and ER visits. Reliq Health Technologies trades on the TSX Venture under the symbol RHT, on the OTC as RQHTF and on the WKN as A2AJTB.

Read More

Spotlight

Albert Einstein Hospital presents a video talking about how suicide is a silent disease that deserves our attention. The psychiatrist Dr. Alfredo Maluf explains what are the main signs and how to assist a person who is thinking about committing such an act.

Resources