HEALTH TECHNOLOGY

Healthcare Triangle (HCTI) Acquires DevCool, an Electronic Health Record (EHR) Focused Healthcare IT and Managed Services Company

Healthcare Triangle, Inc. | December 14, 2021

Healthcare Triangle, Inc. (HCTI), a leading provider of Healthcare and Life Sciences cloud transformation, managed services and data analytics platform company, announced today that it has acquired DevCool, Inc. (“DevCool”), ranked by Inc. 5000 as among the fastest growing private companies in USA in 2021.

DevCool provides EHR Implementation and Managed Services to 6 of the top 10 hospitals in the USA and specializes in providing services to cancer research hospitals and university medical centres. The combined entity will focus on accelerating healthcare providers to adopt cloud technologies in improving clinical, operational, and financial performance. This will open up significant opportunities for HCTI, a premier partner of AWS, Google Cloud, and Microsoft Azure, to upsell its SaaS Platforms like CloudEz, DataEz, and Readabl.AI to the existing client base of DevCool.

“With the acquisition of DevCool, Healthcare Triangle will implement technological advancements designed to improve hospitals' provisioning of patient care, reduce information technology costs, and enable faster EHR deployments for hospital clients as part of its strategy to consolidate its leadership position in the healthcare space. This will further allow clients to host their EHR on public clouds (Amazon Web Services, Google Cloud, and Microsoft Azure) with the HCTI’s CloudEz Platform and expertise.”

Suresh Venkatachari, Chairman and CEO of Healthcare Triangle, Inc

He added that, "With the acquisition of DevCool, we will add large health systems and Integrated Delivery Networks (IDN) to HCTI’s client portfolio, and we expect it to be accretive to EBITDA.”

“We see the acquisition of DevCool improving patient outcomes by implementing AI and Data driven platforms across medical centers and clinical facilities. Healthcare Triangle (HCTI) expects significant opportunities in cloud transformation services, further growth of data analytics and AI platforms based recurring revenues in the healthcare domain,” said Shibu Kizhakevilayil, Head of M&A and Board of Director of Healthcare Triangle Inc. “We look forward to working with Sandeep Deokule and the DevCool team in our continued journey to become a top 10 healthcare IT company in US,” said Mr. Kizhakevilayil.

"We are excited to be part of HCTI, and our goal is to continue helping hospitals innovate and at the same time keep EHR Managed Services cost lower,” said Sandeep Deokule, founder of DevCool. "DevCool along with HCTI will now be able to scale faster, deliver large scale EHR implementations, and host applications on the cloud.”

About Healthcare Triangle, Inc. (HCTI)

Healthcare Triangle, Inc., based in Pleasanton, Calif., reinforces healthcare progress through breakthrough technology and extensive industry knowledge and expertise. We support healthcare organizations—including hospitals and health systems and health plans—as well as pharma and life sciences organizations, in their efforts to improve health outcomes. Healthcare Triangle enables the rapid adoption of new technologies, data enlightenment, business agility, and response to immediate business needs and competitive threats. The highly regulated healthcare and life sciences industries rely on Healthcare Triangle for expertise in digital transformation encompassing the cloud, security and compliance, data lifecycle management, healthcare interoperability, and clinical and business performance optimization. 

About DevCool

DevCool, Inc., Fastest Growing Company in USA in 2021 (by Inc. 5000 Magazine) is a trusted technology and business solutions provider for America's top healthcare organizations by providing EHR IT Managed Services. DevCool helps to rethink Healthcare delivery models by combining cutting edge Healthcare IT solutions and EHR Managed Services. 

Spotlight

Serverless architecture is one of the latest trends in healthcare software development. It is a new way to design, architect and deploy cloud-based applications.


Other News
MEDICAL DEVICES, HEALTHCARE ANALYTICS

The Garage enters strategic partnership with Morris Heights Health Center in an effort to change healthcare in underserved Bronx, NY

Garage and Morris Heights Health Center (MHHC) | December 05, 2022

Population health management platform company, the Garage, announced that it is joining forces with federally qualified health center, Morris Heights Health Center (MHHC). The Bronx-based MHHC serves over 50,000 patients, and its mission is to be the vanguard for quality, affordable, and accessible health care for all. MHHC will be utilizing the Garage’s proven population health management platform, Bridge, for empowering better care in the community. The SaaS platform connects providers, care teams and enables real-time patient information exchange, facilitates referral management, secure messaging, patient tracking and communication, clinical data management, clinical integration, clinical intelligence, and clinical analytics. “We are excited to partner with the Garage. We needed a solution that would help us better serve our patients and prepare us for the opportunities ahead in value-based care. Their proven credentials along with the depth of their platform made this decision a no-brainer.” Mari Millet, President and CEO of MHHC MHHC’s utilization of Bridge will start with a focus in care management for all of its patients and will be another implementation of the Garage’s Digital-First, Data-First approach, which focuses on the Quintuple Aim – Lower Costs of Care, Better Care for the Patient, Improved Health of Communities, Sustainable Service Model for Care Teams, and Equitable Access to Care for All. “Our mission to change healthcare for good…one community at a time is realized by partnerships like this,” said Pranam Ben, Founder and CEO of the Garage. “MHHC’s commitment to their patients presents a great opportunity for us to architect a data driven, platform-based, collaborative care model for the Bronx community.” About the Garage Based in Orlando, Florida, the Garage is a population health management technology company dedicated to changing healthcare for good…one community at a time. The company works with more than 140+ healthcare organizations and 19,500+ providers across 34 states. Through its collaborative population health management platform, Bridge, the Garage touches more than 15 million patient lives. About Morris Heights Health Center MHHC is a non-profit organization funded by federal, state, and foundation grants as well as private and corporate donors. They serve more than 50,000 patients annually and provide a wide range of primary, specialty, dental, mental health, educational, and social services at thirteen locations throughout the Bronx.

Read More

MEDICAL DEVICES

Asep Medical Holdings Inc. Announces Grant of Stock Options

ASEP Medical Holdings Inc | November 25, 2022

Asep Medical Holdings Inc. is pleased to announce that, for recruitment, incentivization, and retention purposes, it has granted to certain officers and advisors an aggregate of 1,080,000 stock options to purchase up to 1,080,000 common shares of the Company of which 200,000 are exercisable at a price of $0.30 per Share until September 29, 2032, 200,000 are exercisable at a price of $0.30 per share until October 1, 2032, and 680,000 are exercisable at a price of $0.30 per share until November 24, 2032. ABOUT ASEP MEDICAL HOLDINGS INC Asep Inc. is dedicated to addressing antibiotic failure by developing novel solutions for significant unmet medical needs. The Company is a consolidation of two existing private companies that are both in the advanced development of both proprietary diagnostic tools, enabling the early and timely identification of severe sepsis as well as broad-spectrum therapeutic agents to address multidrug-resistant biofilm infections. Sepset Biosciences Inc. is developing a diagnostic technology that involves a patient gene expression signature that predicts severe sepsis, one of the significant diseases leading to antibiotic failure since antibiotics are the primary treatment for sepsis. Despite this, sepsis is responsible for nearly 20% of all deaths on the planet. The semester test is a blood-based gene expression assay that is straightforward to implement, and results are obtained in about an hour in the emergency room or intensive care unit. This proprietary diagnostic technology differs from current diagnostic tests in enabling diagnosis of severe sepsis within 1-2 hours of first clinical presentation while other diagnostics only provide diagnosis after 24-36 hours. Asep Inc. believes this will enable critical early decisions to be made by physicians regarding appropriate therapies and reduce overall morbidity and mortality due to sepsis. ABT Innovations Inc.'s peptide technology covers a broad range of therapeutic applications, including bacterial biofilm infections anti-inflammatories, anti-infective immune modulators, and vaccine adjuvants.

Read More

MEDICAL DEVICES

Carestream Health Unveils New X-ray Detectors, Enhanced X-ray Rooms at World’s Largest Radiology Exhibition

Carestream Health | November 29, 2022

Carestream’s legacy of delivering quality medical imaging technology continues with the launch of new digital X-ray detectors that help improve clinical outcomes, while enhancements to its existing product portfolio reflect the company’s deep understanding of the radiology profession. At the annual meeting of the Radiological Society of North America (RSNA) in Chicago, the company is displaying its expanding portfolio of medical imaging systems that provide quantifiable benefits to healthcare organizations and their patients, including New Carestream Focus HD 35 and Focus HD 43 detectors that offer higher resolution with a 100 micron pixel pitch that allows for image magnification for better visibility of small objects and microstructures. The detectors’ Cesium (CsI) scintillator is ideal for dose-sensitive pediatric patients; and the detectors have an IP56 rating for better protection against dust and fluid ingress. Next generation of long-length imaging, the Carestream DRX-LC Detector (INVESTIGATIONAL – NOT AVAILABLE FOR COMMERCIAL SALE) captures long-bone and spine images with a single exposure, making it ideal for pediatric imaging and long-bone and spine images of people with limited mobility. In contrast, the traditional multi-shot approach requires three to five exposures followed by manipulation and stitching of the images. The new detector is designed to capture the full image in a single exposure to minimize dose and mitigate motion artifact that can appear from patient movement with a multi-shot exam. The DRX-LC Detector is designed with X-Factor so the detector can be shared across different Carestream X-ray systems and is compatible with both rooms and mobile units. Enhancements to the Carestream DRX-Evolution Plus that provide improved patient comfort and a better ergonomic experience along with improved workflow for the radiographer. Its new tabletop design eliminates rails that can cause strain and discomfort for both radiographer and patient, enabling patients to be moved more smoothly and with less effort to the exam table. New features in the Carestream DRX-Excel Plus provide a better staff experience with faster workflow and better diagnostic image quality. Designed specifically for large and mid-size hospitals and medical centers, this innovative system combines fluoroscopy and general radiology capabilities in one compact unit. It delivers accelerated workflow, high-resolution images and a wide range of patient exam options. “Our commitment to quickly respond to the needs of the radiology community with ideas that clearly work is as strong as ever, and we are solidly positioned to continue developing solutions that have quantifiable benefits to our customers and their patients. Organizations can have complete confidence in our ability to provide high-value technology that helps lower costs, and improves imaging workflow for radiology departments, technologists and other healthcare professionals—all with the goal of improving patient care.” David C. Westgate, Chairman, President and CEO of Carestream About Carestream Health Carestream is a worldwide provider of medical imaging systems; X-ray imaging systems for non-destructive testing; and precision contract coating services for a wide range of industrial, medical, electronic and other applications—all backed by a global service and support network.

Read More

DIGITAL HEALTHCARE, MEDICAL DEVICES

Sharps Technology Begins Manufacturing at its Hungary Facility for the Company's Innovative Syringe Products

Sharps Technology Inc | December 21, 2022

Sharps Technology, Inc. an innovative medical device and drug delivery Company offering patented, best-in-class syringe products, announces they have commenced manufacturing of their much-needed ultra-low waste smart safety syringe products in their European operation in Hungary. The plant has been producing products and will begin shipments to support the distribution and sales agreement with Nephron Pharmaceuticals by the end of the year, and customer agreements in Europe in early 2023. The production of these specialty syringe products will ramp up over the next several months to increase supply. Sharps innovative syringe designs provide a beneficial set of features and advantages for the healthcare industry. These syringe product features include a combination of ultra-low waste, passive and active safety, and reuse prevention. By combining all these features and building them into a portfolio of syringe offerings, it will create product platforms that can help drive down the cost of healthcare treatments. “This is a transformative point for our company as we move from a pre-revenue research & development start-up to a true manufacturing company that should generate revenue in the first half of 2023. Today’s healthcare providers are responsible for managing their supply chains and driving down their total cost of ownership (TCO) for medical treatments. Sharps Technology will be able to offer products that can directly support those programs. At Sharps Technology, we feel that by using better drug delivery technology, we can help create additional medical treatments at no additional cost for patients that need them." Robert Hayes, Sharps Technology CEO "We look forward to a bright future at Sharps Technology," concluded Mr. Hayes. "The recently signed distribution agreement with Nephron Pharmaceuticals accelerates the sales plan for our innovative syringe products that are currently being produced in the Sharps plant in Hungary. The ability to pull forward our sales plan for customers in the US will create a unique opportunity for early revenue at Sharps. We expect to have our first products available for sale in the US by the end of January 2023, with additional products to be added to the distribution network by mid-year of 2023." When healthcare providers use ultra-low waste syringes with multi-dose vials, it allows for the availability of up to 20% to 40% more medication for patients that need the treatment. This medication availability is created by using more efficient syringes designated as low-waste and ultra-low waste products, and not trapping medication within the syringe after the dose is given. The use of standard syringes that are not designated as low waste or ultra-low waste products typically creates a dead space area within the syringe where excess medication is trapped and cannot be used. This dead space then causes the healthcare provider to throw away the unused medication. The trapped medication in the dead space of a standard syringe can waste as much as 100 microliters of medication or more. The Pharmaceutical companies that fill their medication into vials understand this and must then overfill the vial with drug therapy to compensate for the problem. As the costs for medication and medical treatments rise, the discarded medication can cost the industry millions of dollars, or more, globally. The purchase of the European facility was finalized in the summer of 2022 and Sharps has invested in infrastructure and equipment upgrades to prepare the plant for a full manufacturing schedule. Syringe products produced by Sharps comply with all applicable FDA and ISO requirements and have been awarded the European Union’s CE Mark. The Sharps Hungary team, led by General Manager Filippo Filippi, brings together a dedicated and knowledgeable manufacturing force, with more than 20 years of experience in supplying the world with high quality, innovative syringe products. Prior to the GM position, Filippi’s career spanned years of building, managing, and supporting multiple manufacturing sites across Europe, Asia, and Africa. The Hungary plant is vertically integrated in that it has the capability to manufacture the syringe components by injection molding, assemble the devices on automated lines or by manual assembly if required, and to sterilize the products on-site through the Ethylene Oxide sterilization process. This last stage of the syringe manufacturing process is unique in the industry and gives Sharps an advantage in supporting shortened lead times as compared to the common need to utilize a third-party for sterilization. The plant has manufacturing capacity to supply more than 50 million units today and the facility could be expanded to produce 250 million units or more over the next couple of years. About Sharps Technology Sharps Technology is a medical device and pharmaceutical packaging company specializing in the development and manufacturing of innovative drug delivery systems. The company’s product lines focus on low waste and ultra-low waste syringe technologies that incorporate both passive and active safety features. These features protect front line healthcare workers from life-threatening needle stick injuries and protect the public from needle re-use. Sharps Technology has extensive expertise in specialized prefilled syringe systems and ready to use processing. The company has a manufacturing facility in Hungary and has partnered with Nephron Pharmaceuticals to expand its manufacturing capacity in the US..

Read More