Strata Decision Technology to Acquire EPSi From Allscripts for $365M

Business Wire | July 31, 2020

Strata Decision Technology (Strata), a pioneer and leader in the development of cloud-based financial planning, analytics and performance tools for healthcare, today announced that it has reached a definitive agreement to acquire EPSi from Allscripts (NASDAQ: MDRX) for $365 million. EPSi is a leading provider of financial decision support and planning tools for hospitals and health systems.Hospitals and healthcare delivery systems were already under significant financial pressure with margins rapidly declining over the last few years. COVID-19 has caused a significant increase in the cost of care coupled with major declines in both patient and procedure volume, creating what is seen as the biggest financial crisis in the history of healthcare.

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Of all the currents disrupting healthcare, from consolidation to the swing toward value-based care delivery and reimbursement, population health management topped the list of transformative industry trends for the second consecutive year, according to the 2016 Healthcare Trends & Forecasts survey by the Healthcare Intelligence Network...


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FUTURE OF HEALTHCARE

Prenosis Announces Investment from PACE Healthcare Capital, bringing Total Funding to Over $20 million

Prenosis | March 10, 2022

Prenosis, Inc., a precision medicine company,announced a venture investment from PACE Healthcare Capital, an early-stage investment firm committed to improving health outcomes. This investment brings total funding in the company to over$20 million, including partnerships with Foxconn, Roche Diagnostics, the Defense Threat Reduction Agency, and others. Prenosisis leveraging machine learning algorithms trained on deep biological data and broad clinical data to create precise and comprehensive maps of acute disease. Using these maps, Prenosis develops and markets valuable navigational tools to improve patient care by illuminating the optimal treatment pathways for each patient. "This capital will further accelerate our deep biological mapping of acute disease and to further grow the NOSIS™dataset/biobank, which is the largest such dataset/biobank ever created for sepsis," saidBobby Reddy, Jr., CEO and Co-Founder, Prenosis Inc. "Using our mapping technology, we are developing sophisticated methods to define, divide, and conquer diseases. The navigational guidance solutions based on our health state maps will address the critical challenge of sepsis by providing critical and actionable information tailored to each patient's health state." Prenosis is pioneering a revolution in managing acute diseases that have previously eluded conventional methods, starting with sepsis. Sepsis occurs when the immune system reacts abnormally to an infection, setting off a chain of events that leads to tissue damage and organ failure. Sepsis is currently one of the leading causes of mortality in U.S. hospitals, and the WHO estimates that it causes 1 in 5 deaths worldwide1. Prenosis has spent nearly a decade building fit-for-purpose biological and clinical datasets at an unprecedented level to better understand sepsis and other acute care conditions. Using this information, Prenosis has developed patient maps and valuable navigational tools to empower physicians to administer optimal treatment to patients faster. Prenosis' first such tool, the Sepsis ImmunoScoreTM, is a Software-as-a-Medical Device (SaMD) digital diagnostic designed to aid in the risk assessment for progression to sepsis of patients admitted in the emergency department or hospital. Prenosis is currently seeking to obtain FDA clearance for the tool by the end of 2022. The test runs on Prenosis's Immunix™software platform, which interfaces with hospital Electronic Medical Records that hosts multiple products to improve patient care. "Personalized medicine is the next frontier of healthcare. Complex acute diseases, such as sepsis, can only be conquered through a robust understanding of the biological response of each patient's immune system – one patient at a time. Prenosis brings our understanding of the disease patterns to a whole new level and enables physicians to make better decisions faster for their patients. We are excited to partner with Bobby and the whole Prenosis team as they continue to develop their technology and transform the way we understand and provide care for patients with complex acute diseases." Julia Monfrini Peev, Founder and Managing Partner of PACE Healthcare Capital The funding builds on a recent string of strategic partnerships and accolades for Prenosis, including being selected as part of the MedTech Innovator 2021 Showcase, being named the #2 Medtech Startup of 2021 by MDDI, and being asked to present its research at scientific meetings, including the forthcoming 2022 annual meetings for the Society of Critical Care Medicine and the American Thoracic Society. "In addition to support from other investors and partners, PACE Healthcare Capital's involvement is a strong endorsement of our solutions and will help to accelerate our growth as we further expand our proprietary dataset and work towards commercialization of the Immunix™platform later this year," said Reddy. "As we use our technology to map acute disease, we hope to usher in a new age of data-driven treatment and medical discovery." About Prenosis Prenosis is a health tech innovator devoted to ushering in a new era of precision diagnostics in acute care using artificial intelligence. Its Immunix™precision diagnostics platform leverages machine learning algorithms trained on deep biological data and broad clinical data designed to capture and illuminate the complex health states of patients more holistically. Its proprietary NOSISTMdataset is one of the largest and fastest-growing hybrid biomarker-clinical datasets for sepsis care. The Sepsis ImmunoScore™diagnostic on the Immunix™platform has the potential to save thousands of lives and billions of dollars in healthcare spending annually. The Sepsis ImmunoScore™is not yet approved for commercial use in the United States. About PACE Healthcare Capital PACE Healthcare Capitalis an early-stage venture capital firm focused on investing in companies that have developed high-impact solutions to critical healthcare challenges. With decades of combined experience and $1B+ of capital raised and deployed in healthcare, PACE applies institutional-grade investment processes to identify the best entrepreneurs and deploy financial and human capital to help them grow their business.

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FUTURE OF HEALTHCARE

PRIA Healthcare Announces Investment from Aldrich Capital Partners

PRIA Healthcare Management | January 27, 2022

PRIA Healthcare Management (PRIA), a leader in technology-enabled Market Access services that accelerate the adoption and rapid commercialization of innovative devices and procedures, today announced a significant investment fromVirginiabased growth equity firm, Aldrich Capital Partners. With the support of growth capital, PRIA Healthcare will quickly expand its Market Access solutions to innovative Medtech companies facing clinical trials and early reimbursement challenges of novel and life changing therapies. "After bootstrapping PRIA since our founding in 2012, we could see it was time for us to take the next step as the business grew and the needs in the market continued to expand. After meeting with many potential partners, we chose to work with the team at Aldrich Capital Partners because of their deep experience within our space and enormous set of resources they will bring to the table, outside of just capital." Mike Simon, Founder and CEO of PRIA Healthcare PRIA looks to further advance its mission to provide patients and providers across dozens of specialties access to innovative medical devices. PRIA's deep expertise in early reimbursement strategy, clinical trial reimbursement programs, and market-leading patient access programs ultimately enhance the market success of ground-breaking medical device procedures. The investment will be used to develop new products and services, as well as expand its reach to additional medical device manufacturers accelerating PRIA's already impressive growth rate. PRIA and Aldrich Capital Partners share a common vision around the importance of patient-centric services within the life sciences ecosystem. "Over the last several years, we have set out to invest in an innovative patient services business serving the life sciences segment and after meeting the PRIA team, we were immediately impressed", saysRaz Zia, General Partner of Aldrich Capital. "The sector-specific expertise, use of technology and vision set PRIA apart from other vendors in the space and we are excited to leverage our resources, relationships and decades of experience in scaling businesses to help the PRIA team realize their full potential." Informed by clinical data, PRIA partners with leading medical device manufactures and emerging medical device start-ups across the country and uses centralized, data-driven process workflows to deliver coordinated patient access programs that navigate the complexity of coding, coverage and payment for novel procedures. PRIA brings together patients, providers, medical device manufacturers and health insurers to ensure patients receive the best possible care for their situation. About PRIA Healthcare PRIA Healthcare Management is a patient access and reimbursement solutions company specializing in patient-based appeals of denied care. PRIA partners with medical device companies, healthcare providers, and healthcare organizations to ensure that patients are afforded appropriate coverage for the care that they are prescribed. Guided by the PRIA Patient Access Process our team of Patient Access Specialists have the experience and expertise to ensure that patient's rights to prescribed care will always be exercised to the fullest extent. About Aldrich Capital Partners Aldrich Capital Partners supports disruptive innovation in healthcare IT, fintech, and application software by investing equity capital in privately held growing companies. Founded by experienced investors and operators, who were also successful entrepreneurs, the founders of Aldrich Capital have been responsible for over$1 billionin technology investments since 1999. Both an operations partner and board-level advisor, ACP brings its portfolio companies strategic insight and access to a broad network of relationships built over 50 combined years of entrepreneurship and investing. Aldrich Capital Partners was founded in 2014 and has offices in Silicon Valley and theWashington, DCmetro area.

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FUTURE OF HEALTHCARE

Trinity Health to Acquire CommonSpirit Health's Share of MercyOne Health System Become Sole Parent

Trinity Health | April 20, 2022

Trinity Health and CommonSpirit Health announced they have signed an agreement for Trinity Health to acquire all facilities and assets of MercyOne, a regional health system based in Iowa. Since 1998, MercyOne has operated under a joint operating agreement between not-for-profit Catholic health care organizations Trinity Health and Catholic Health Initiatives, which is now CommonSpirit. MercyOne is a leading health system in Iowa and serves more than 3.3 million patients each year. The system includes 16 medical centers, 27 affiliate organizations and more than 420 care sites offering a range of health and wellness services, including provider services and urgent care, and more than 20,000 colleagues including 2,000 of the state's most talented doctors and providers. "True to our shared Catholic mission, our goal is to provide high-quality, compassionate care with the best patient/member experience possible. We will accomplish that goal through a holistic approach, with a range of health services and technologies that are fully connected and coordinated. This agreement creates a fully integrated MercyOne to care for more people in a unified way." Mike Slubowski, president and chief executive officer at Trinity Health After months of analysis and due diligence, Trinity Health and CommonSpirit determined a sole parent is the best path forward for MercyOne and for the communities it serves. Trinity Health, a national health system spanning 25 states, will bring unified strategies and operations to MercyOne's care sites, including one set of system services. As an example, MercyOne will transition to Trinity Health's common platforms, including a single electronic health record (EHR), ultimately allowing patients to easily manage their care across all MercyOne services and facilities. The result is a more convenient and consistent care experience for MercyOne's communities. "After two decades of successful collaboration, we are immensely proud of our partnership with Trinity Health and our efforts to advance health care statewide," said Marvin O'Quinn, president and chief operating officer at CommonSpirit Health. "While the current structure has been instrumental in growing our health care services in Iowa, we believe this decision is ultimately what is best for our patients, colleagues, and our communities." "We strongly believe this transition to become a full member of the Trinity Health family will result in a stronger, more cohesive health system better able to offer a convenient and personalized circle of care for all we serve," said Bob Ritz, president and chief executive officer at MercyOne. "We are delighted to have the agreement in place as we plan for the future of our mission. We are grateful to CommonSpirit for more than 20 years of partnership." Trinity Health and CommonSpirit will now plan for integration, complete regulatory filings, and take other steps necessary to finalize the transaction, which is expected to be completed summer 2022. This process will be seamless for the communities MercyOne serves, and patients can continue to expect the same compassionate care they have always received. About Trinity Health Trinity Health is one of the largest not-for-profit, Catholic health care systems in the nation. It is a family of 115,000 colleagues and nearly 26,000 physicians and clinicians caring for diverse communities across 25 states. Nationally recognized for care and experience, Trinity Health's network of care includes 88 hospitals, 131 continuing care locations, the second largest PACE program in the country, 125 urgent care locations, and many other health and well-being services. Based in Livonia, Michigan, its annual operating revenue is $20.2 billion with $1.2 billion returned to its communities in the form of charity care and other community benefit programs. For more information, visit www.trinity-health.org or follow us on LinkedIn, Facebook or Twitter. About CommonSpirit Health CommonSpirit Health is a nonprofit, Catholic health system dedicated to advancing health for all people. It was created in February 2019 by Catholic Health Initiatives and Dignity Health. With its national office in Chicago and a team of over 150,000 employees and 25,000 physicians and advanced practice clinicians, CommonSpirit operates 140 hospitals and more than 1,500 care sites across 21 states. In FY 2021, CommonSpirit had revenues of $33.3 billion and provided $5.1 billion in charity care, community benefit, and unreimbursed government programs. Learn more at www.commonspirit.org. About MercyOne MercyOne is a connected system of health care facilities and services dedicated to helping people and communities live their best life. MercyOne's care providers and staff make health the highest priority. The system's clinics, medical centers, hospitals and affiliates are located throughout the state of Iowa and beyond. Headquartered in central Iowa, MercyOne was founded in 1998 through a collaboration between Catholic Health Initiatives, now CommonSpirit Health, and Trinity Health - two of the country's foremost, not-for-profit Catholic health organizations.

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HEALTH TECHNOLOGY

Frost & Sullivan Awards proteanTecs Best Electronics Health Monitoring Technology

proteanTecs | December 23, 2021

proteanTecs, a leading developer of deep data analytics solutions for electronics health and performance monitoring, announced today it has won the 2021 Frost & Sullivan Best Practices Award for Global Electronics Health Monitoring Technology Innovation Leadership.Electronics have become an existential enabler for key industries, from Datacenter to Automotive, where 24/7 continuity with zero in-mission failures is pivotal. Therefore, it is necessary to guarantee these systems' reliability, bringing a key question to the fore: How can service providers, such as data center hyperscalers and car OEMs, track the health of electronic fleets working under extreme conditions while ensuring business resilience until the devices complete their lifetime? The award reviews the evolving landscape of electronics and presents the clear and critical need for deep data analytics across multiple industries and mission critical devices. The award declares, "Electronics health monitoring is essential to ensure these systems' functional continuity and reliability. proteanTecs offers a unique value proposition in the form of on-chip agents capable of extracting parametric data in various lifecycle stages. The Universal Chip Telemetry (UCT) enabled Proteus deep data analytics platform provides actionable insights and alerts to users along the value chain based on common, correlated, and predictive data. This allows users to take immediate action to ensure uptime and improve power, performance, and reliability." "By weaving data science together with on-chip visibility, proteanTecs' solutions deliver an unprecedented clarity at each step of the system's lifecycle", observed Sushrutha Sadashiva, Industry Analyst. "Frost & Sullivan presents Best Practices Awards to companies that inspire growth in their industries. These leaders identify emerging trends before they become the market standard and create solutions that drive differentiation and sustainable growth. They are the game changers," said Jeff Frigstad, Global Sr. Vice President, Best Practices, Frost & Sullivan. Frost & Sullivan applies a rigorous process to evaluate multiple nominees for each award category, with a detailed evaluation of best practice criteria across several dimensions. "Frost & Sullivan is at the center of the ecosystem for best practice cultivation, with cutting-edge insights that are singularly focused on reshaping the world through managed growth. It is a great honor to be recognized by them as the technology innovation leader in the Global Electronics Health Monitoring industry." Shai Cohen, proteanTecs co-founder and CEO About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, collaborates with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 60 years, Frost & Sullivan has been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. About proteanTecs proteanTecs is a leading provider of deep data monitoring solutions for advanced electronics in the Datacenter, Automotive, Communications and Mobile markets. Based on Universal Chip Telemetry™ (UCT), the company provides system health and performance monitoring, from production to the field. By applying machine learning to novel data created by on-chip UCT agents, the company's analytics platform delivers predictive insights and visibility, leading to new levels of quality, reliability and scale. Founded in 2017, the company is headquartered in Israel with offices in New Jersey, California, India and Taiwan.

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Spotlight

Of all the currents disrupting healthcare, from consolidation to the swing toward value-based care delivery and reimbursement, population health management topped the list of transformative industry trends for the second consecutive year, according to the 2016 Healthcare Trends & Forecasts survey by the Healthcare Intelligence Network...

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