NextGen Healthcare, Inc. | December 01, 2022
NextGen Healthcare, Inc. a leading provider of innovative cloud-based healthcare technology solutions, today announced it has signed a definitive agreement to acquire TSI Healthcare, a privately held value-added reseller located in Chapel Hill, NC. The acquisition shall be deemed effective 11:59 p.m. on November 30, 2022. The consideration is comprised of an upfront amount of $68 million, which will be paid in cash with contingent consideration of up to $22 million in cash in the form of an earnout, subject to achieving certain financial targets through March 31, 2025. The acquisition is expected to contribute approximately $10 to 12 million of revenue in the remaining four months of fiscal 2023 and will be accretive to adjusted EBITDA and cash flow within a year. The company plans to update guidance when it reports its fiscal 2023 third quarter results.
“TSI was one of our premier clinical content and technical services partners specializing in comprehensive solutions for specialty physician practices. This acquisition enables NextGen Healthcare to expand its presence in key specialties including rheumatology, pulmonology and cardiology.”
David Sides, president and chief executive officer of NextGen Healthcare
“TSI Healthcare has been part of the NextGen Healthcare family over 16 years, developing specialty specific solutions exclusively on NextGen Healthcare’s platform,” said David Dickson, Jr., president and chief executive officer of TSI Healthcare. “We’re excited to extend our services expertise with NextGen Healthcare’s product and services leadership to further solidify NextGen Healthcare as among the most trusted names in ambulatory healthcare.”
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 TSI Healthcare
TSI Healthcare® is a national leader in the sales and support of customized NextGen® Practice Management and Electronic Health Record software. TSI Healthcare continues to deliver innovative, specialty-specific solutions to maximize revenue, reduce costs, and advance patient care through unmatched customer service that focuses on the human element. TSI's support teams include NextGen Certified Professionals, clinicians, and former practice administrators, based in the U.S. In addition to core products, TSI Healthcare also offers Revenue Cycle Management, Patient Portal, Population Health Management, Cloud Hosting and more.
FUTURE OF HEALTHCARE
Visionable and Verizon | September 22, 2022
Verizon Business and Visionable, a leading health technology company based in the U.K., announced that they are expanding their partnership which will enable both companies to work on a range of connected healthcare solutions, via Visionable’s patented technology powered by Verizon’s 5G Ultra Wideband and 5G Edge network, in the U.S.
Verizon and Visionable are working together on a secure next-generation digital healthcare collaboration platform that enables healthcare professionals to access data, collaborate and share resources within the APAC and EMEA regions. The partnership seeks to address some of healthcare’s biggest challenges including connecting frontline responders to specialist doctors during emergencies and enabling access to community-led care for patients needing long-term support.
“The healthcare industry generates a massive amount of data, but its ability to make good use of that data has long been hampered by network architectures that cannot handle it efficiently, securely, or cost-effectively. Through the combination of 5G and Edge computing, healthcare facilities and professionals will have access to secure near-real-time connectivity creating a new link between doctor and patient. As a result, illnesses could someday be diagnosed and treated more quickly, and medical costs could potentially decrease,”
Scott Lawrence, Senior Vice President for Verizon Global Solutions
Today’s announcement follows the launch of Visionable’s private-5G enabled Connected Healthcare Center in the U.K. in May. The center showcases the benefits of next-generation connectivity and collaboration across a patient’s care journey from urgent and emergency care to virtual wards to in-person care and rehabilitation, supported by Verizon private 5G.
“Our partnership provides real-time connectivity and productivity, when and where it counts and costs. Together with Verizon, we endeavor to support our healthcare teams by enabling them to bring healthcare to the patient wherever they are,“ said Alan Lowe, CEO and Co-Founder of Visionable.
This engagement is part of Verizon’s continued strategy to partner with customers, startups, universities, and large enterprises to explore how 5G can disrupt and transform nearly every industry. This includes Verizon’s strategic partnership with Emory Healthcare in Atlanta where Verizon is collaborating with Emory Healthcare to help spur the development of healthcare solutions powered by 5G Ultra Wideband.
Today’s announcement builds on the company’s network-as-a-service foundation and supports its growing private networks, mobile edge compute and business solutions.
Visionable is a UK company that is helping make connected healthcare a reality in the UK and around the world. Driven by the belief that affordable, high-quality, timely healthcare is a basic human right that should be accessible to all, Visionable’s patented, real-time & multi-streaming technology enables critical remote decision-making by clinicians wherever they are located have created their own proprietary clinical collaboration platform. This enables the hospital to come to the patient and for healthcare teams to collaborate freely across multiple locations. Visionable is trusted by 25% of the top 100 UK hospitals, 100 more than 90 NHS organisations, 46 and 34 NHS Trusts., over 16,000 NHS staff. Visionable’ s specialist advisory board includes Lord Victor Adebowale, previous NHS board member, Mike Farrar, ex-NHS Chief Executive and leader of the North West England Strategic Authority and Dr Junaid Bajwa, practising physician and MSD’s Digital Accelerator’s Global Lead for Strategic Alliances.
Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology and communications services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $133.6 billion in 2021. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.
FUTURE OF HEALTHCARE,MEDICAL DEVICES
Capterra | November 30, 2022
The rising adoption of connected medical devices is accelerating cyberattacks, according to Capterra’s new Medical IoT Survey of healthcare IT professionals. The survey also reveals that 67% of healthcare cyberattacks impact patient data and nearly half impact patient care, an indication that rising security risks in the industry are leading to severe consequences in patient outcomes and privacy.
The medical internet of things is helping to make healthcare more convenient, efficient, and patient-centric. However, connected devices with IoT sensors often have unprotected security vulnerabilities that endanger healthcare facilities, and even patients. In fact, medical practices with more than 70% of their devices connected are 24% more likely to experience a cyberattack than practices with 50% or fewer connected devices.
“As a healthcare organization connects more medical devices to its network, its attack surface expands. Connected medical devices often go unmonitored for security vulnerabilities, and because they run on a wide array of software and hardware platforms, it’s difficult to monitor with a single tool. This means that many connected medical devices are left wide open to cyberattacks.”
Zach Capers, senior security analyst at Capterra
More than half of healthcare IT staff rate the cybersecurity threat level in the industry as high or extreme, yet many healthcare organizations are not taking the necessary steps to protect medical IoT devices. Alarmingly, 57% do not always change the default username and password for each new connected medical device that is put into use. Additionally, 82% run connected medical devices on old Windows systems.
If a security vulnerability is discovered, organizations should patch the device or update its firmware as soon as possible. Unfortunately, 68% of healthcare organizations don’t always update connected devices when a patch is available. However, vulnerabilities and associated patches aren’t always well publicized, which means healthcare IT staff must stay up-to-date on emerging threats to medical IoT devices.
Medical IoT security requires proactive and ongoing vigilance. Healthcare practices should conduct routine vulnerability assessments before connecting medical devices to their IT network. They should also keep an up-to-date and accurate inventory of all connected devices plus associated software and firmware, and use software to monitor these devices.
Read the full report on Capterra.com to learn more about best practices for healthcare organizations to strengthen security for their medical IoT devices.
Capterra is the leading software reviews and selection platform that connects businesses to the right technology. Compare software, read and leave reviews, and access objective insights that empower business growth.
Prospection | September 06, 2022
Health analytics pioneer, Prospection has announced a unique global data access agreement with leading Japanese medical data company Medical Data Vision Co., Ltd. to accelerate healthcare analytics globally.
The agreement, covering the world's second largest pharmaceutical market, will provide global pharmaceutical companies and researchers access to comprehensive and longitudinal data covering more than 40 million people in Japan at more than 470 hospitals.
Combining predictive analytics and machine learning with real-world healthcare data, Prospection's agreement with MDV will provide pharmaceutical companies across the world with unique access to patient diagnostic and medication data from hospitals across Japan, unlocking potential to assess an unlimited number of treatment programs in the region.
The agreement also enables access to patient history and prefecture level data, allowing analysis of disease progression, disease outcomes and the mapping of disease courses to provide evidence on areas where development can address unmet needs. When distilled further, this creates an opportunity to assess patient data on a regional level to find geographical areas where patients or health centres require additional support for specific disease and conditions.
Prospection's access to Japan's most comprehensive medical data sets is a significant milestone for the company. Prospection currently provides real-time access to longitudinal patient data across 15 regions globally including Australia, New Zealand, Japan, South Korea, Taiwan, USA and the UK. The company's latest announcement with Medical Data Vision will build on this work, providing Prospection with access to one of Japan's largest healthcare databases.
"We are delighted to announce our latest agreement with Medical Data Vision. This partnership demonstrates a shared commitment to improving patient outcomes and marks a significant milestone in Prospection's mission to deliver real community benefits to patients across the globe.
"As one of the largest pharmaceutical markets in the world, Japan has incredibly rich datasets. Working with Medical Data Vision gives us the opportunity to access a dataset of approximately 40 million patients, creating a unique opportunity to use advanced analytic tools to accelerate precision medicine to enable the right patient to receive the right treatment at the right time in their journey.
"The outcomes of this partnership will play a key role in understanding the full cycle of patient health conditions and disease journeys in areas including immuno-oncology, immune disorders, cardiovascular and metabolic conditions allowing researchers and pharmaceutical companies globally to better understand the different patient characteristics, treatments and respective outcomes."
Eric Chung, CEO and Co-founder, Prospection
"We are very excited to be working with MDV in our latest data access agreement. Combining MDV's large and comprehensive dataset with Prospections global reach and extensive expertise working with datasets across the world will not only allow MNC pharmaceutical companies to work with patient data from Japan, but will also open a broader understanding of different health conditions across the world. This agreement brings us one step closer to enhancing precision medicine to find the 40% of patients that can be optimised."
Prospection is a pioneer in health data analytics technology. We are on a mission to make advancements to precision medicine through real world evidence, with an aim to put the right patient on the right treatment at the right time. Applying advanced ML algorithms to real-world data we unearth health journey and treatment insights by analysing longitudinal data for hundreds of millions of patients to see how drug treatments are used after the clinical trial. Delivering actionable real-world evidence that enables better outcomes for patients, across the world.
Prospection is guided by credentialled experts and innovative leaders within their respective fields. Globally, we work with over 15 large health data sets applying our expertise to examine health patterns. Working with government and researchers through to our core client base in the pharma/biopharmaceutical industry, we have delivered insights across more than 90 therapeutic indications. Including rare and complex diseases such as oncology, immuno-oncology, virology, metabolic conditions, respiratory and cardiovascular disease. Prospection is backed by investors including Ellerston, Horizons Ventures and Main Sequence, and commercially with CRO Novotech.
About Medical Data Vision (MDV)
MDV is an accumulation of anonymously processed data with secondary usage permission from medical institutions. The actual number of patients in the "hospital data" centered on the acute phase is 40.42 million. In addition, by holding data from the health insurance association, data on the recovery period and chronic period has been enhanced, and in addition to information by hospital/clinic, it has become possible to track information on transfer destinations. "Health insurance data" was 7.84 million people (same).