Inovalon acquires Ability for $1.2B

Healthcare data analytics company Inovalon entered into a definitive agreement March 7 to acquire Ability Network, a cloud-based software-as-a-service company, for $1.2 billion in cash and restricted stock.

Under the agreement, which is expected to close in April, the combined companies hope to create a vertically integrated cloud-based platform that enables "real-time, value-based care from payers, manufacturers and diagnostics all the way to the patient's point of care," according to a press release.

Applying data and analytics at the point-of-care and within physician workflows will foster high-value and high-impact applications of data that are highly sought after by health plans, employers, pharmaceutical companies, medical device manufacturers and diagnostic companies. The companies add that acute, post-acute and ambulatory care providers would benefit from better access to more meaningful data, more advanced analytics, clinical care protocols and decision support, and value-based tools to drive down costs and improve patient outcomes.

As part of the acquisition, Inovalon will gain access to more than 44,000 acute, post-acute and ambulatory point-of-care providers that currently tap into Ability.

More articles on health IT:
Google sets out to organize health records
250+ hospital execs rank 5 most innovative hospitals
KLAS: 8 popular IT vendors ranked by AI imaging capabilities

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Articles We Think You'll Like

 

Featured Whitepapers

Featured Webinars