FUTURE OF HEALTHCARE

GTCR Announces Partnership with Kelly McCrann to Form Avryo Healthcare

GTCR | April 22, 2022

GTCR Announces

GTCR, a leading private equity firm, announced that it has entered into a Leaders Strategy™ partnership with Kelly McCrann to form Avryo Health Services, LLC. Based in San Diego, CA, Avryo Healthcare will seek to acquire companies and assets in the multi-site healthcare services industry as part of a strategy to build a market-leading company, with a focus on utilizing new technologies and operating strategies to enhance patient access and experiences.

GTCR, the firm that pioneered The Leaders Strategy™ - finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth - will invest in Avryo Healthcare from its Strategic Growth Fund, a private equity fund with $2.0 billion of limited partner capital commitments. Mr. McCrann is serving as Executive Chairman of Avryo Healthcare and will make a substantial investment alongside GTCR.

Mr. McCrann has over 30 years of experience in the healthcare services industry. Prior to partnering with GTCR, Mr. McCrann most recently served as Chief Executive Officer of EyeCare Partners, the largest vertically-integrated medical vision services provider in the US. He became CEO of EyeCare Partners in 2016 and significantly grew the company via acquisition and organic growth into the largest business in the industry before completing a successful sale of the company in 2019. Prior to leading EyeCare Partners, Mr. McCrann spent more than 25 years in senior leadership roles across healthcare provider services and payor businesses, including within dental, behavioral health, ambulatory infusion and kidney dialysis.

"We are excited to partner with Kelly to build a leading company in the healthcare services industry," said Sean Cunningham, Managing Director and Co-Head of Healthcare at GTCR. "Kelly has an exceptional track record in the multi-site healthcare services space with experience across specialties, including dental and behavioral health, and a history of driving organic, de novo and M&A growth. Kelly's background, industry expertise and strategic vision make him an ideal partner as GTCR commits to build a platform in this attractive industry."

"I am thrilled to partner with GTCR to build Avryo Healthcare into a market-leading company in the multi-site healthcare services space. GTCR has deep domain expertise in healthcare, a substantial track record of creatively building platforms in this space, and a long history of backing experienced CEOs and Executive Chairs. With our partnership, Avryo Healthcare is well-positioned to create a compelling platform in healthcare provider services."

Mr. McCrann

"GTCR's formation of Avryo Healthcare with Kelly is another excellent example of The Leaders Strategy™ and builds on our history of successful investments in multi-site healthcare services and the broader healthcare industry," added John Kos, Managing Director at GTCR. "We are excited to create this multi-site healthcare services platform behind Kelly and are actively looking for companies and assets in the sector, including founder-led and sponsor-backed companies."

About GTCR

Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Business & Consumer Services, Financial Services & Technology, Healthcare and Technology, Media & Telecommunications industries. The Chicago-based firm pioneered The Leaders Strategy™ - finding and partnering with management leaders in core domains to identify, acquire and build market-leading companies through transformational acquisitions and organic growth. Since its inception, GTCR has invested more than $20 billion in over 250 companies. For more information, please visit www.gtcr.com. Follow us on LinkedIn.

About Avryo Healthcare

Avryo Healthcare was formed in April 2022 as a partnership between Kelly McCrann and GTCR. Avryo Healthcare's mission is to build a leading company in the multi-site healthcare provider services industry with a focus on building a company that utilizes new technologies and operating strategies to enhance patient access and experiences. For more information about Avryo Healthcare, please contact (212) 835-7042.

Spotlight

The new guideline on alcohol consumption produced by the CMO warns that drinking any level of alcohol increases the risk of a range of cancers


Other News
HEALTH TECHNOLOGY

Addison Group Expands Non-Clinical Healthcare Services With Acquisition of Harmony Healthcare

Addison Group | July 11, 2022

Addison Group a national leader in professional services specializing in talent solutions and consulting services, announced the acquisition of Harmony Healthcare a human capital management company providing a diverse range of non-clinical healthcare workforce and consulting solutions nationwide. With healthcare as the third-largest industry in the U.S., this investment comes amid high demands and a continued shortage of non-clinical healthcare workers. Addison and Harmony's combined 28 years of experience in non-clinical healthcare workforce solutions enable health organizations to thrive in an ever-changing environment. The acquisition furthers Addison's position as a national leader in non-clinical healthcare talent resources, recruiting, and consulting services, and Addison's ongoing expansion strategy through organic growth and acquisitions of forward-thinking specialized firms that prioritize client and employee satisfaction. "Addison's consistent growth trajectory is due to our keen understanding of market trends and finding the right solutions for our client's business challenges. As the healthcare industry continues to navigate significant shifts, many organizations are still grappling with talent shortages, cyberattacks, and the rising cost of health services. Our ongoing investment in non-clinical healthcare workforce solutions provides our clients with innovative, accessible, and value-based health system resources. Together with Harmony, we will continue to empower our shared client base with enhanced consultant services within health information technology, reimbursement, and population health." Thomas Moran, CEO of Addison Group "Addison's consultative approach and expansive network of professionals will accelerate our abilities to meet customer demands nationally. Addison's culture focuses on People First, and the vast range of offerings provides our employees and consultants with added career opportunities. We are excited to partner with Addison as we continue our mission to empower healthcare organizations with quality solutions that optimize financial and clinical outcomes while enabling change management required to navigate the rapidly shifting healthcare landscape," said Brandon Martin, President of Harmony Healthcare. Harmony Healthcare will continue to maintain its headquarters in Tampa, Florida. The company's executives and the team will retain their roles with a continued focus on expanding their organization. About Addison Group Addison Group is a leading professional services firm specializing in talent solutions and consulting. Addison Group delivers companies' expertise and talent to achieve and sustain business growth. We offer a full suite of consulting and recruiting capabilities across multiple sectors, including information technology, finance and accounting, non-clinical healthcare, human resources, administrative, and digital marketing. With a growing network of companies, offices across the United States, and deep relationships in regional and local markets, Addison Group is one of the top talent solutions and consulting companies in the US, providing industry-leading expertise with a national reach and a localized touch. Founded in 1999, Addison Group has been repeatedly recognized by the media as one of the fastest-growing private companies in the United States, Forbes' Top 200 America's Best Professional and Specialist Search Firms, America's Best Recruiters and Executive Search Firms, and America's Best Temporary Staffing Firms, SIA Top 100 Staffing Bold Leaders, Inc. Best 100 Places to Work, and Best of Staffing® by ClearlyRated. About Harmony Healthcare Harmony Healthcare, a human capital management company, provides a diverse range of non-clinical staffing and consulting solutions to healthcare organizations nationwide. Harmony Healthcare delivers quality solutions to empower healthcare organization success, enhance clinical and financial outcomes, and enable the transition to value-based healthcare. Harmony Healthcare is a trusted partner to over 300 clients, including 11 of the top 15 largest health systems in the nation, major academic health centers, hospitals, physician practices, payers, 9 of the 15 largest CPA firms, and the federal government. Founded in 2010, Harmony Healthcare is a proud member of several prestigious professional health organizations including ACDIS, HFMA, AHIMA, NCAR, NAHRI, AAHAM, NAHAM, ACHE, AHDI, ACMA, NAHQ, CMSA, and ASHRM.

Read More

HEALTH TECHNOLOGY

CareView Communications Selected to Exhibit Patient Safety System at Vizient Innovative Technology Exchange

CareView Communications, Inc. | June 22, 2022

CareView Communications, Inc. an information technology provider to the healthcare industry, has been selected to exhibit the CareView Patient Safety System®, including its patented, predictive Virtual Bed Rails® and Virtual Chair Rails® technology, at the Vizient Innovative Technology Exchange. Vizient, Inc., the nation’s largest member-driven health care performance improvement company, will hold the Exchange on October 17 at the Renaissance, Dallas. The annual Innovative Technology Exchange offers selected suppliers the unique opportunity to demonstrate their technologies to supply chain and clinical leaders from Vizient’s member hospitals and subject matter experts who serve on its supply councils. Each technology will showcase how it improves clinical outcomes, enhances safety, or drives incremental improvements to health care delivery or business models. The CareView Patient Safety System leverages CareView’s patented Virtual Bed Rails and Virtual Chair Rails, which use machine learning to differentiate between normal patient movements and behaviors of an at-risk patient. Exclusive integrations with the health system’s electronic health record (EHR) and nurse communication systems allow for enhanced clinical workflows and improved response times. With CareView’s system, one staff member can safely monitor and interact with up to 40 patients, resulting in fewer false alarms, quicker staff interventions, and a significant reduction in patient falls. “We are very excited to bring our CareView Patient Safety System to the Vizient Innovative Technology Exchange. CareView’s latest equipment will address hospital staffing shortages, ease care burdens, and improve care efficiency by having a virtual sitter in every at-risk and high acuity patient room.” Sandra McRee, CareView’s Chief Operating Officer “Suppliers come to the Exchange hoping to be awarded an Innovative Technology contract, which signals health care providers of their product’s unique qualities,” said Kelly Flaharty, director of contract process, Vizient. “We are pleased to include CareView’s technology in the group selected to participate.” The annual Innovative Technology Exchange is part of Vizient’s Innovative Technology Program that includes product review of supplier-submitted technologies by member-led councils and task forces. Since 2003, Vizient has reviewed over 1,600 product submissions as part of its Innovative Technology Program. About CareView Communications, Inc. As a leader in turnkey patient video monitoring solutions, CareView is redefining the standard of patient safety in hospitals and healthcare facilities across the country. For over a decade, CareView has relentlessly pursued innovative ways to increase patient protection, providing next generation solutions that lower operational costs and foster a culture of safety among patient, staff and hospital leadership. With installations in more than 150 hospitals, CareView has proven that its innovative technology is creating a culture of patient safety where patient falls have decreased by 80% with sitter costs reduced by more than 65%. Anchored by the CareView Patient Safety System, this modular, scalable solution delivers flexible configurations to fit any facility while significantly increasing patient safety and operational savings. All configurations feature HD cameras, high-fidelity 2-way audio/video, LCD displays for the ultimate in capability, flexibility, and affordability. Corporate offices are located at 405 State Highway 121 Bypass, Suite B-240, Lewisville, TX 75067.

Read More

HEALTH TECHNOLOGY

Indegene Partners with Amwell to Empower Life Sciences Organizations with Unparalleled Patient Support Solutions

Indegene Inc | July 05, 2022

Indegene, a technology-led healthcare solutions provider, announced a partnership with Amwell®, a digital care delivery leader. This collaboration will facilitate life sciences organizations to connect patients to better quality care and drive better health outcomes. Digital patient engagement has disrupted the healthcare landscape. Patients are increasingly becoming more knowledgeable and involved in their health journeys. They want personalized support solutions that are available on the go. The technology partnership between Indegene and Amwell will enable life sciences organizations to transform their patient support capabilities and engage with patients across digital, virtual, and physical mediums. It will allow Indegene to include Amwell’s digital care platform Converge™ into its end-to-end patient support framework and enable life sciences organizations to offer a personalized care model. "Patient needs are rapidly evolving, and life sciences organizations often struggle to provide customized solutions that cater to them. By partnering with Amwell, we hope to equip life sciences organizations with customized patient engagement solutions that boost access to cutting-edge treatments and improve health outcomes," Nitin Raizada, Vice President, Enterprise Commercial at Indegene This partnership will facilitate Indegene to enable life sciences organizations to drive virtual care automation and patient companionship to advance longitudinal care, behavioral health, and other specialty and chronic care segments. It will help patients access treatments they need and receive continued support to remain adherent through their health journeys. “As the future of care becomes increasingly hybrid, we are excited to partner with Indegene to further expand access to our Amwell Converge Platform and help accelerate their path to market with access to our installed base of payer and provider customers,” said Rene Barron, VP Channel Management, Amwell. “Together with Indegene, we aim to ensure that all life sciences organizations can more easily connect patients to quality care to improve clinical and financial outcomes, as well as delight patients with personalized care experiences.” About Indegene Indegene is a technology-led healthcare solutions provider. It combines deep industry expertise with fit-for-purpose technology in an agile and scalable operating model. Many of the leading, global healthcare organizations rely on Indegene to deliver effective and efficient clinical, medical and commercial outcomes every day. From strategy to execution, Indegene enables healthcare organizations to be future ready. About Amwell Amwell is a leading digital care delivery platform in the United States and globally, connecting and enabling providers, insurers, patients, and innovators to deliver greater access to more affordable, higher quality care. Amwell believes that digital care delivery will transform healthcare. The Company offers a single, comprehensive platform to support all digital health needs from urgent to acute and post-acute care, as well as chronic care management and healthy living. With over a decade of experience, Amwell powers the digital health solutions for over 2,000 hospitals and 55 health plan partners with over 36,000 employers, covering over 80 million lives. American Well, Amwell, SilverCloud, Conversa, Converge and Carepoint are registered trademarks or trademarks of American Well Corporation in the United States and other countries. All other trademarks used herein are the property of their respective owners.

Read More

HEALTH TECHNOLOGY

Nomi Health Acquires Everyone Health, Sano Surgery

Nomi Health | July 14, 2022

Everyone Health has agreements with self-funded employers and third-party administrators for pre-negotiated, all-inclusive prices that save employers up to 70% relative to commercial fee-for-service rates. The company delivers these savings via Sano Surgery’s direct contracting with more than 10,000 physicians and facilities — surgical hospitals, ambulatory surgery centers, endoscopy centers, radiology centers, labs and more — in 300 of the largest U.S. cities across 48 states, all now part of Nomi Health’s national provider network. “Nomi Health believes healthcare needs a rebuild, not a renovation. These companies share in our vision of extracting the complexity and cost from traditional healthcare, so buyers experience substantial savings and, most importantly, patients have greater access to more affordable care. In three short years, we expanded easy access to care to 15 million Americans, while significantly driving down cost of care to buyers. The immediate contributions of Everyone Health and Sano Surgery will accelerate this track record in the years ahead.” Mark Newman, founder and CEO of Nomi Health Founded by CEO Dutch Rojas 10 years ago, Sano Surgery has a network of nearly 6,000 medical facilities and 8,000 lab locations nationwide, ranging from radiology and orthopedics to women's health and oncology. This network enables Everyone Health to deliver higher quality medical treatments and services at lower prices. As a result, physicians benefit from predictable volumes and payments, while patients enjoy a more streamlined care and billing experience. “My goal is affordable and accessible healthcare for all. We’ve built a nationwide network of physicians and medical facilities that allows us to bring substantially lower pricing and more transparent transactions to the market, benefiting countless Americans,” said Rojas, founder and CEO of Sano Surgery and Everyone Health. “As the dual crisis of access and affordability grows on the heels of the pandemic, the time is right to increase our impact as part of Nomi Health.” The acquisitions enable buyers to turn to Nomi Health for a full suite of solutions — analytics, care delivery and a direct network — all underpinned by a modern claims infrastructure and payment rails. It also brings 12 full-time employees, including Rojas, to Nomi Health to accelerate the continued expansion of the company’s network of clinical partners, which is critical as Nomi Health takes its support and services into more communities nationwide. The acquisitions of Everyone Health and Sano Surgery come on the heels of Nomi’s $200 million acquisition of healthcare analytics leader Artemis Health in January. About Nomi Health Nomi Health is a nationwide direct healthcare system making it easier than ever for any buyer of healthcare to access the highest quality affordable care for their communities. The company’s direct care ecosystem encompasses a real-time operating and payment system — inclusive of analytics and payment rails — as well as an integrated care delivery infrastructure featuring essential care services, pharmacy and an open network. To date, Nomi Health has saved buyers of care an average of 30 percent compared to traditional healthcare costs, while enabling them to give their communities more access to lower cost, high quality care. From rural counties to some of the largest cities in America, Nomi Health has administered everyday healthcare services to more than 14 million Americans and counting in hundreds of communities nationwide. During COVID-19, this direct care model played a pivotal role in care access, public health and keeping economies open and operating. Based in Orem, Utah, Nomi Health employs more than 2,000 nationwide, working to lower healthcare expenses, widen care access and improve the patient experience. The company is led by an experienced, cross-functional leadership team with clinical, healthcare, technology and finance backgrounds. Nomi Health has so far invested more than $10 million dollars in improving the well-being of the communities it serves.

Read More

Spotlight

The new guideline on alcohol consumption produced by the CMO warns that drinking any level of alcohol increases the risk of a range of cancers

Resources