FUTURE OF HEALTHCARE
Abbott | November 21, 2022
Abbott has been recognized by the Consumer Technology Association with three CES 2023 Innovation Awards for its life-changing technologies that are advancing the health tech industry and improving the lives of people worldwide. The CTA is the organization behind the Consumer Electronics Show the most influential technology event in the world.
Ahead of the CES 2023 event, three of Abbott's industry-leading tech advancements won CES 2023 Innovation Awards, all within the Digital Health award category
Aveir VR Leadless Pacemaker – The world's only leadless pacemaker with a unique mapping capability to assess correct positioning prior to placement and designed to be completely retrievable. The system was developed by Abbott to treat patients with slow heart rhythms and eliminates wires used to deliver therapy in traditional pacemakers.
Proclaim Plus SCS System – Abbott's latest advancement in neurostimulation therapy to treat chronic pain using low doses of targeted BurstDR™ stimulation that can be adjusted as a person's therapeutic needs evolve across up to six areas of the body, which is more pain sites in the body than ever before.
Alinity m Monkeypox PCR test1 – A first of its kind, Abbott received FDA Emergency Use Authorization of its PCR test for detecting the monkeypox virus.
The CES Innovation Awards program is an annual competition honoring outstanding design and engineering in consumer technology products. The program recognizes the year's most innovative products in a multitude of consumer technology product categories and distinguishes the highest-rated in each.
Last year, Abbott became the first-ever healthcare company to keynote CES, and the company has received nine CES Innovation Awards in the past two years.
Other Abbott products previously honored with CES Innovation Awards include FreeStyle Libre 32, the world's smallest, thinnest3 and most accurate4 14-day glucose sensor and a CES 2022 Best of Innovation Award winner; BinaxNOW™5, the #1 COVID-19 self test in the U.S.; and the UltreonTM 1.0 intravascular imaging and coronary physiology software platform, which helps guide and optimize stenting decisions, combining optical coherence tomography with artificial intelligence.
In addition to the CES 2023 awards, Abbott also was recently recognized with other top honors for its healthcare technology including its revolutionary FreeStyle Libre technology being named the best medical technology in the last 50 years by the Galien Foundation. The FreeStyle Libre portfolio has transformed the lives of approximately 4.5 million people6 living with diabetes globally.
Abbott is a global healthcare leader that helps people live more fully at all stages of life. Our portfolio of life-changing technologies spans the spectrum of healthcare, with leading businesses and products in diagnostics, medical devices, nutritionals and branded generic medicines.
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.
MEDICAL DEVICES, HEALTHCARE ANALYTICS
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.
Florence Healthcare | November 18, 2022
Florence Healthcare™, a clinical research technology company headquartered in Atlanta, Georgia, announced the completion of a year-long third-party study on the impact of Site Enablement Platforms™ on clinical research timelines and costs.
The study by Marketcap Consulting is the first to compare how traditional site management approaches differ from site-first Site Enablement Platforms. The study looked at the impact of traditional sponsor portals and new Site Enablement Platforms on research sponsor and Contract Research Organization study timelines and budgets.
“Pharma sponsors and CROs realize the importance of enabling sites to do their best work - but only recently have they discovered that traditional site portals are more hindrance than help. Yet, these organizations weren't able to measure the true impact of switching to a Site Enablement Platform. This year-long study aimed to fix that and highlight how linking fragmented workflows accelerates the full lifecycle of clinical trials.”
Ryan Jones, CEO of Florence Healthcare
Site enablement is a new technology category that prioritizes the needs of the site, a major shift from past technology that only looked at the experience of the sponsor. These platforms, including Florence Healthcare’s SiteLink™, insist on ease-of-use and ease-of-setup for the site, quality support, and simplified integrations. SiteLink works in conjunction with eBinders™, an electronic Investigator Site File solution used by over 12,000 research sites in 45 countries.
About the Study
Marketcap Consulting conducted interviews with clinical research operations leaders harnessing SiteLink, examined timelines and study costs, and analyzed the impact across the sites in the study. On average, the team found that SiteLink accelerated study start-up by four weeks and study close-out by two weeks at every site. For a 50-site study, this six-week acceleration reduced cash burn by one million dollars.
“We can see a clear positive impact on study timelines and cash burn when research sponsors and CROs implement Site Enablement Platforms,” said Joel White, founder of Marketcap Consulting. “This early study reveals that by enabling sites to do their best work, the clinical research industry unlocks value across the full research cycle.”
“While the financial impact of switching to SiteLink makes investing in site enablement an easy choice for sponsors and CROs, it’s really the acceleration of studies that gets our team at Florence Healthcare excited,” said Jones. “We aim to double the output of research teams by the end of the decade, and enabling sites is the way to do it.”
About Florence Healthcare
Florence Healthcare’s clinical trial software helps more than 12,000 research sites in 45 countries manage their documents, data, and workflows. The Florence Healthcare™ platform also provides remote access so sponsors and Contract Research Organizations can collaborate with their sites around the world. Florence Healthcare users now perform 5.8 million remote monitoring activities each month.