Office Ally | May 11, 2022
Office Ally, a leading provider of electronic clearinghouse and healthcare software solutions,announced that is has acquired Bluemark, LLC, a provider of specialized healthcare software for healthcare professionals and community-based organizations. Financial terms of the transaction were not disclosed.
Founded in 2001, Bluemark provides specialized healthcare software and adaptive technology, including revenue integrity and Medicaid enrollment solutions, for hospitals, health systems, nursing homes and community-based organizations across the country. Bluemark offers four unique products that span Payer Audit Management and Assistance Program Enrollment, enabling healthcare professionals to both enhance reimbursement processes and achieve workflow efficiencies.
“As a leader in healthcare revenue cycle software, Bluemark has built an impressive suite of high-quality RCM products that are designed to provide mature cloud-based technology solutions that simplify some of the most complex processes in healthcare finance. Not only are Bluemark’s self-pay and health information handling solutions highly complementary to our solution set at Office Ally, but the company’s network of hospital and health system relationships expands our customer base into some of the largest providers of care in the US.”
Chris Hart, CEO of Office Ally
“We are thrilled to be growing the Office Ally platform with the addition of Bluemark. Together, we believe there is an incredible opportunity to leverage our extensive network of providers and combined solution set to further scale our offerings as a leading healthcare technology company,” continued Hart.
With the acquisition of Bluemark, Office Ally will be able to expand its product set and add new health information handler credentials. In addition, the complementary nature of the two businesses will allow Office Ally to better serve existing customers with an integrated suite of healthcare software solutions now spanning self-pay management and Medicaid enrollment.
“Over the last two decades, Bluemark has been a pioneer and innovator in healthcare finance by developing unique solutions to drive the enrollment of self-pay patients into Medicaid and associated benefit programs, as well as the electronic exchange of health information between providers and audit contractors. We are thrilled to be joining Office Ally, and look forward to better serving our customers as the healthcare market continues to evolve,” said Ken Sacks, CEO of Bluemark.
About Office Ally
Office Ally is a healthcare technology company that offers cloud-based solutions to healthcare providers, independent physician associations (IPAs) and health plans. Office Ally’s platform supports both the management of care and facilitates payments between providers, health plans and patients. Office Ally’s platform is paired with a clearinghouse that enables the secure exchange of healthcare information including claims, remits, and eligibility information between covered entities and across the healthcare market.
Bluemark, LLC, is a specialized software and technology developer that provides expert solutions for healthcare professionals. Bluemark helps clients maximize reimbursement and achieve workflow efficiencies through the development of technology-based business process solutions for revenue cycle and HIM audit and compliance processes. Backed by a national footprint and strong industry relationships, Bluemark offers mature SAAS-based technology solutions that are time-tested, proven and positioned to evolve with the healthcare market’s changing needs.
FUTURE OF HEALTHCARE
Novant Health | March 29, 2022
Novant Health, one of the largest health care systems in the Southeast, today announced the launch of a new business division designed to innovate and support scalable solutions for some of the health care industry's biggest challenges. Operating as an independent business entity, Novant Health Enterprises will better enable partnerships with other health care organizations, create diversified growth and generate value for Novant Health's core business. Some of Novant Health's existing services will move over into this new division, and additional service offerings will be developed and acquired. NHE will accelerate the improvements Novant Health is making through its investments and partnerships focused on clinical, operational and technological advancements.
Envisioned as an incubator to accelerate the development of solutions that promise to unlock clinical, financial and patient value at scale, the health system's new venture will bring to market innovative solutions that empower all patients to live healthier lives – while enabling physicians to focus on delivering the best possible care. Novant Health Enterprises will build on the health system's considerable scale and prominence as well as the strength of its strategic partnerships and will focus on three core areas over the next five years: developing transformational clinical capabilities, continued expansion into non-acute settings, and commercializing differentiating digital solutions.
"Novant Health has long been at the forefront of innovation in health care, pioneering solutions internally and through unconventional partnerships to solve the industry's biggest challenges. This forward-thinking has enabled us to reimagine the patient experience, advance the quality and capability of care and be named the safest health care system in the region. I can't wait to see what a unique entity such as Novant Health Enterprises will incubate, innovate and accelerate as we leverage technological innovation to create better outcomes for our patients, providers and communities."
Carl S. Armato, president and CEO, Novant Health
Novant Health Enterprises will be led by Dean Swindle, who will serve as executive vice president of Novant Health and president of this new division. Swindle has over 30 years' experience as a financial and strategic executive in both national and regional health systems and has developed transformational growth activities and industry leading capabilities.
Angela Yochem will serve as chief operating officer and general manager of Novant Health Enterprises in addition to her current role as Novant Health executive vice president and chief transformation and digital officer. Yochem has over 25 years' experience in new business creation and operation, delivery of world-class consumer experiences and differentiating technologies, and development of advanced solutions for the competitive advantage of global companies at scale.
"Novant Health Enterprises convenes the industry's leading partnerships to deliver on our promise to make health care remarkable for all our patients, in every dimension, every time," said Swindle. "As most of us have witnessed in the health care industry, the events of the past two years have underscored the value that technology and transformational capabilities can bring to patient care. Novant Health Enterprises has never been more confident in the potential for technological innovation to alleviate the most pressing problems in health care and we are excited to get started."
"The creation of Novant Health Enterprises will maximize the power of innovation and partnerships, allowing us to better pursue our mission of making our communities healthier, one person at a time," said Yochem. "We'll not only have our finger on the pulse of what is needed to improve care, but we'll have the ability to foster, create, test and apply those solutions at an unprecedented rate. I look forward to uncovering new opportunities as we focus Novant Health Enterprises' initial priority areas in the coming months."
Novant Health Enterprises will continue to develop the operating framework and strategic plans over the course of the next year.
About Novant Health
Novant Health is an integrated network of physician clinics, outpatient facilities and hospitals that delivers a seamless and convenient healthcare experience to communities in North Carolina, South Carolina and Georgia. The Novant Health network consists of more than 1,800 physicians and over 35,000 employees who provide care at nearly 800 locations, including 15 hospitals and hundreds of outpatient facilities and physician clinics. In 2021, Novant Health was the highest-ranking healthcare system in North Carolina to be included on Forbes' Best Employers for Diversity list. Diversity MBA Magazine ranked Novant Health first in the nation on its 2021 list of "Best Places for Women & Diverse Managers to Work." In 2020, Novant Health provided more than $1.02 billion in community benefit, including financial assistance and services.
InfuSystem Holdings, Inc. | April 29, 2022
InfuSystem Holdings, Inc. a leading national health care service provider, facilitating outpatient care for durable medical equipment manufacturers and health care providers, announced today it has entered into a three-year master service agreement with a leading global healthcare technology and diagnostic company, effective April 25, 2022.
As part of the master service agreement, InfuSystem will be providing its biomedical services, which include annual preventative maintenance and repair solutions, to a majority of the fleet of infusion pumps at hospitals and other medical facilities under contract with this tier one global healthcare company. Service will be conducted on-site at the acute care facility or off-site at one of InfuSystem’s seven service centers. This global healthcare technology and diagnostic company’s preferred customers’ infusion pump fleet consists of more than 300,000 pumps located in 1,200 medical facilities, including 800 hospital systems in the U.S. and Canada. This preferred national service agreement is estimated to generate approximately $10 to $12 million, after an initial ramp-up period, in annual revenue under InfuSystem’s DME service platform.
“I am extremely pleased the tier one global healthcare company has entrusted InfuSystem to be their preferred national service provider. We will deliver our 'white glove' biomedical services for their infusion pump fleet throughout North America. This master service agreement could potentially lead to additional opportunities to serve this customer to provide other products and services we offer under our DME Services segment. The wide-ranging expertise and capabilities of our DME platform, along with our proven track record of industry-leading service, and our national network of service centers, were important factors in their decision to partner with InfuSystem.”
Richard DiIorio, Chief Executive Officer of InfuSystem
“This acute care service opportunity is the direct result of effectively integrating our biomedical services acquisitions and creating a highly effective operating unit to service tier one clients in order to drive growth and significantly expand market share. Our certified biomedical service teams will be deployed throughout North America to commence onboarding of the global healthcare company’s infusion fleet, and to conduct service and repairs on-site or at one of our national service centers. I believe this preferred national service agreement lays the foundation for long-term growth of our DME business and even greater expansion into the acute care space.”
“This master service agreement represents a significant milestone for the Company. It is a testament to our team’s hard work and dedication in providing industry-leading service and repair solutions. We look forward to a long and successful relationship for years to come,” concluded Mr. DiIorio.
About InfuSystem Holdings, Inc.
InfuSystem Holdings, Inc. is a leading national health care service provider, facilitating outpatient care for durable medical equipment manufacturers and health care providers. INFU services are provided under a two-platform model. The lead platform is Integrated Therapy Services (“ITS”), providing the last-mile solution for clinic-to-home healthcare where the continuing treatment involves complex durable medical equipment and services. The ITS segment is comprised of Oncology, Pain Management, Wound Therapy and Lymphedema businesses. The second platform, Durable Medical Equipment Services (“DME Services”), supports the ITS platform and leverages strong service orientation to win incremental business from its direct payer clients. The DME Services segment is comprised of direct payer rentals, pump and consumable sales, and biomedical services and repair. Headquartered in Rochester Hills, Michigan, the Company delivers local, field-based customer support and also operates Centers of Excellence in Michigan, Kansas, California, Massachusetts, Texas and Ontario, Canada.
FUTURE OF HEALTHCARE
GeneQuantum Healthcare | April 19, 2022
GeneQuantum Healthcare Co., Ltd., a company specializing in site-specific bioconjugation for next generation biotherapeutics, has signed an agreement with a Korean biotech company, Aimed Bio Inc., to co-develop a First-in-Class therapeutic antibody drug conjugate (ADC). Aimed Bio, a spin-off company from Samsung Medical Center, is focusing on developing innovative antibody-centric drugs for brain diseases with few treatment options. Additional details were not disclosed.
GeneQuantum focuses on next generation Antibody Drug Conjugate development. Taking advantage of the proprietary 'Ligase Dependent Conjugation' technology platform, which allows a site-specific conjugation of cytotoxins or other type of payloads to antibodies, the company has successfully developed a robust pipeline with more than 10 assets, with several at or approaching clinical stage. In addition to expanding the unique technology platform, the company has entered into a number of partnerships with domestic biotech/pharmaceutical companies and international partners. The growing number of partnerships speaks to the power of the GeneQuantum platform technology for not only improving key therapeutic characteristics of existing molecules, but also for creating new classes of molecules, ultimately increasing the number of available treatment options for patients worldwide. GeneQuantum is excited about the significant potential of partnerships with business partners and will continue to expand its deal pipeline in the antibody drug conjugate and protein therapeutic market.
The collaborating ADC is a first-in-class asset with highly differentiated antibody against a unique target, a stable linker design and a novel payload with a strong by-stander killing effect. The resulting ADC is expected to treat brain and other cancers with huge unmet needs.
"As an innovative antibody+ company, we look for complementary partners to maximize value of our platform technology. Aimed Bio not only has differentiated antibody acting on a unique target but also has deep knowledge and expertise in the field of brain tumor & CNS diseases. This collaboration is based on an excellent match between the two companies to generate a FIC ADC. Through close partnership, we are thrilled to bring revolutionary therapy for those patients without efficient treatment at this moment."
Dr. Gang Qin, the Founder & Chairman, CEO of GeneQuantum
Dr. Dohyun Nam, the Founder & Chairman, CTO of Aimed Bio and internationally renowned neurosurgeon with 32 years of experience in brain tumor & CNS diseases commented: "Aimed Bio has been successfully expanding its R&D pipeline for the past 2 years, and I am pleased to start this collaboration with GeneQuantum. After evaluating the data, the linker-payload and conjugation technology GeneQuantum provides proved to be very safe and effective. With the best antibody and brain tumor expertise of Aimed Bio, I believe the collaborating ADC will bring a tremendous impact on the field. We look forward to initiating clinical trial as soon as possible."
About GeneQuantum Healthcare Co., Ltd.
GeneQuantum Healthcare Co., Ltd. is a high-tech biopharmaceutical company dedicated to the development of innovative biotherapeutics. The company is focused on the development of a next generation of bioconjugate therapeutics to meet the unmet medical needs of cancer patients globally. For more information, visit www.genequantum.com.
About AIMEDBIO Inc.
AIMEDBIO is a spin-off company from Samsung Medical Center established in August 2018. AIMEDBIO aims to provide therapeutic solutions to patients with serious brain diseases, including neuro-oncological and -degenerative diseases, to save patients' lives and improve patients' quality of life. Based on solid global networks with key opinion leaders in the field, an excellent research team with profound achievements, and R&D pipelines with an outstanding drug development platform, AIMEDBIO is an emerging leader for development of innovative therapeutics against diverse brain diseases.