Health IT Business News, Financial Edition – January 16, 2025

Trending News

New England Life Care Selects Inovalon’s ScriptMed® to Scale Infusion Therapy and Specialty Pharmacy
Inovalon, a provider of cloud-based software solutions empowering data-driven healthcare, announced that New England Life Care (NELC), an in-home infusion therapy provider, has selected the company’s cloud-native ScriptMed Infusion pharmacy management software to optimize their pharmacy home infusion operations.

Waystar unveils transformative generative AI innovation to help providers recover billions of dollars tied to 450 million annual denied claims
Waystar, a provider of leading healthcare payment software, announced the launch of Waystar AltitudeAI™, a comprehensive set of AI capabilities for providers, including AltitudeCreate™, a new generative AI innovation focused on appealing denied claims.

HFS Research Recognizes Brillio as an Enterprise Innovator in Healthcare Payer Services
Brillio, a digital transformation services and solutions provider, has been recognized by business research consultancy firm HFS Research as Horizon 2 — Enterprise Innovator in Healthcare Payer Services for leveraging advanced AI, automation, and cloud capabilities to help clients optimize cost of care, experience of care, health outcomes, and health equity.

Infinx Welcomes MedReceivables Advisor, Strengthening Pathology Revenue Cycle Solutions
Infinx, a trusted provider of AI-powered solutions for patient access and revenue cycle management, announces the acquisition of MedReceivables Advisor (MRA), a leader in pathology billing and revenue cycle management for hospital based-practices.

Mergers and Acquisitions

ONRAD Inc. Acquires Direct Radiology in a Move That Expands Capabilities, Enhances Quality and Outcomes
ONRAD Inc., a radiology services company delivering remote teleradiology final-read impressions across all healthcare settings and full-service radiology solutions for hospitals, announced the acquisition of teleradiology group Direct Radiology from Royal Philips, a global leader in health technology.

Red Rover Health Raises $4 Million in Funding to Grow Healthcare App Store Platform
Red Rover Health, which enables healthcare providers to integrate “best of breed” third-party solutions into their electronic health record (EHR) systems, has received $4 million in seed funding from NewShore Partners. The latest funding gives Red Rover the capital to hire key talent to expand the core integration platform and scale operations.

Transcarent To Acquire Accolade
Transcarent, the One Place for Health and Care, and Accolade, a leader in health advocacy, expert medical opinions, and primary care, announced that they have entered into a definitive agreement under which Transcarent will acquire Accolade for $7.03 per share in cash, which represents a total equity value of approximately $621M.

Avel eCare Announces Acquisition of Amwell Psychiatric Care to Expand Telemedicine Services
Avel eCare, a national telemedicine provider of clinician-to-clinician services, is proud to announce the acquisition of Amwell Psychiatric Care (APC), a division of Amwell®. This acquisition further solidifies Avel eCare’s position as a national leader in telemedicine and expands its Behavioral Health services to meet the growing demand across rural and urban communities.

New Mountain Capital to Acquire Machinify and Combine with Leading Healthcare Intelligence and Payment Platform
New Mountain Capital, LLC, a growth-oriented investment firm with more than $55 billion in assets under management, announced a definitive agreement to acquire Machinify, Inc., a provider of artificial intelligence (AI)-powered software transforming healthcare payments.

SuperDial acquires MajorBoost to expand voice AI capabilities for US healthcare organizations
SuperDial, a voice AI company that automates phone calls for healthcare organizations, has acquired MajorBoost, a fellow innovator that has developed an AI-powered system to automate the process of waiting on hold and navigating insurance companies’ Interactive Voice Response (IVR) phone trees.

Contract Announcements

Biofourmis Selected by AdventHealth to Support “Whole-Person Care” With New Acute Care-at Home Program
Biofourmis, a global technology-enabled care delivery company, and AdventHealth, have agreed to collaborate on a continuum-wide remote patient management (RPM) program in Central Florida to provide safe, whole-person care and a superior patient experience within their homes.

Encore Exchange announces first qualified patient financial experience solution available on Mayo Clinic Platform
Encore Exchange is pleased to announce that its eXtended Care Program (XCP) is now available as a qualified solution on Mayo Clinic Platform, marking a significant advancement in the initial rollout of its revenue cycle solutions.

CirrusMD and Tendo Partner to Expand Choice and Savings for Employees and Their Dependents
CirrusMD, creator of the Physician-first Care & Guidance virtual care model, and Tendo, provider of high-quality, cost-competitive care bundles through its CareConnect Marketplace, announced that they are partnering to provide CirrusMD’s members and plan sponsors with an additional solution for managing healthcare costs while delivering added value to employees and their dependents.

Teladoc Health Joins Amazon’s Health Benefits Connector for Cardiometabolic Programs
Teladoc Health, the global leader in virtual care, announced a new collaboration with Amazon to expand access to Teladoc’s industry-leading chronic condition programs. Customers of Amazon that are eligible for Teladoc Health’s diabetes, hypertension, pre-diabetes and weight management programs can now seamlessly discover and enroll in these benefits directly through Amazon’s Health Benefits Connector, previously known as Health Condition Programs.

Avel eCare and Cibolo Health Announces Strategic Partnership to Expand Access to Telehealth Specialty Care and Services
Avel eCare, a national telemedicine provider of clinician-to-clinician services, proudly announces a strategic partnership with Cibolo Health. This collaboration marks a pivotal step toward improving healthcare access in rural and underserved communities, underscoring both organizations’ shared commitment to delivering high-quality care no matter where patients live.

Avalon Healthcare Solutions to Team with Sentara Health Plans to Offer Genetic Testing Management
Avalon Healthcare Solutions, the world’s first Lab Insights company, is pleased to announce the expansion of its partnership with Sentara Health Plans with the implementation of Genetic Testing Management (GTM).

Ultrahuman and InsideTracker Partner to Improve Cardiovascular Health of U.S. Consumers
Ultrahuman, a pioneer in advanced health optimization technology, announces a strategic partnership with InsideTracker, a personalized health platform supported by peer-reviewed research.

ClearCost Health Partners with Tendo to Enhance Provider Search with Real-Time, Actionable Pricing Transparency
Tendo, a healthcare software company, has partnered with ClearCost Health, a leader in provider search solutions with transparent pricing data, to integrate Tendo’s Care Connect marketplace. T

Venture Capitol and Funding

FIRE1 Secures $120 Million Financing to Revolutionize Heart Failure Care
FIRE1, a connected medical device solutions company, announced the successful completion of a $120 million financing round to accelerate the company’s mission to transform the lives of millions of people living with heart failure.

MDaudit Announces Strategic Growth Investment from Bregal Sagemount and Primus Capital
MDaudit, a premier provider of billing, coding compliance and revenue integrity software for health systems, hospitals, and provider groups, announced a strategic growth investment from Bregal Sagemount, a growth-focused private equity firm, and Primus Capital, the company’s existing investor. Terms of the transaction were not disclosed.

VSee Health Awarded Multi-Year, $6M First Year, Government Contract to Deliver Rapid Configurable Telehealth
VSee Health, Inc., a provider of comprehensive digital health services and customized telehealth workflow streams, has been awarded a multi-year government contract with $6M allocated for the first year.

Making the Cut, Milestones, Accolades, Awards and More

Brightside Health Earns The Joint Commission’s Gold Seal of Approval®
Brightside Health announced it has been accredited by The Joint Commission and earned their Gold Seal of Approval® for Behavioral Health Care and Human Services. As the leader in standards development promoting quality and safety in health care organizations, The Joint Commission assessed and verified that Brightside Health consistently meets and exceeds industry best practice across its care delivery functions.

OnMed Wins Prestigious CES Picks Award for Hybrid Care Innovation
OnMed, a tech-enabled hybrid healthcare company, is proud to announce its recognition as a winner of the 2025 CES Picks Award within the TWICE category. This accolade honors groundbreaking innovation for brands with creative solutions that help businesses of all sizes across industries, including solving society’s problems.

Carta Healthcare Wins BIG Innovation Award for Healthcare
Carta Healthcare®, whose mission is to ignite healthcare improvement by unlocking the power of clinical data, is thrilled to announce its recognition as a winner in the prestigious 2025 BIG Innovation Awards, presented by the Business Intelligence Group.

ImpediMed Earns Frost & Sullivan 2025 Technology Innovation Leadership Award
ImpediMed, a provider of medical technologies to clinically monitor and manage fluid and body composition, announced that it has been awarded the Frost & Sullivan 2025 North American Technology Innovation Leadership Award in the Point-of-Care Bioimpedance Spectroscopy Industry.

Other Business News

Private Equity at Goldman Sachs Alternatives and Everstone Capital sell co-control stake in Omega Healthcare
Omega Healthcare, a provider of revenue cycle management and clinical services to US healthcare organizations, announced that Private Equity at Goldman Sachs Alternatives and Everstone Capital have signed an agreement to sell a co-control stake in Omega to Ontario Teachers’ Pension Plan.

Peerbridge Health Unveils COR-INSIGHT Trial to Validate Revolutionary AI-Enabled Cardiac and Cardiopulmonary Diagnostics & Monitoring
Peerbridge Health has announced the launch of its landmark COR-INSIGHT Trial, which will validate the screening and diagnostic capabilities of its Peerbridge Cor® ambulatory ECG wearables. The trial seeks to revolutionize cardiovascular and cardiopulmonary monitoring and screening by providing a seamless, non-invasive alternative to traditional diagnostic modalities.

Hallmark Unveils ‘Changemakers’ Spotlight Program Celebrating Innovative Leaders in Healthcare
Hallmark, a healthcare workforce management technology company, announced the launch of the Hallmark Changemakers program, an initiative to recognize healthcare leaders using innovative workforce strategies to address workforce challenges and drive transformational change in the industry.