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Partners Health Care Not to Expand – Can’t We All Just Get Along?

Posted on February 6, 2015 I Written By

Andy Oram is an editor at O'Reilly Media, a highly respected book publisher and technology information provider. An employee of the company since 1992, Andy currently specializes in open source, software engineering, and health IT, but his editorial output has ranged from a legal guide covering intellectual property to a graphic novel about teenage hackers. His articles have appeared often on EMR & EHR and other blogs in the health IT space. Andy also writes often for O'Reilly's Radar site (http://oreilly.com/) and other publications on policy issues related to the Internet and on trends affecting technical innovation and its effects on society. Print publications where his work has appeared include The Economist, Communications of the ACM, Copyright World, the Journal of Information Technology & Politics, Vanguardia Dossier, and Internet Law and Business. Conferences where he has presented talks include O'Reilly's Open Source Convention, FISL (Brazil), FOSDEM, and DebConf.

So the deal is off for the mega-medical conglomerate that dominates Boston’s health care scene. Partners Healthcare, which came so close to buying up several competitors, got slammed by a newly installed attorney general and a judge presiding over the merger decision. So big is Partners in health care–and health care in the Boston market–that this news made the lead headline in the Boston Globe on January 30.

Partners may go ahead with the mergers and face a lawsuit, but my guess is that they’ll sense the trending of the political tides and back away. Everyone understands that dominant health care providers tend to raise costs–but what might we have lost in preventing the merger?
Read more..

Meta Health Technology Acquired By Streamline Health; Breakthrough, MyHealthTeams, and PatientCo Ink Receive Fundings

Posted on September 20, 2012 I Written By

Katie Clark is originally from Colorado and currently lives in Utah with her husband and son. She writes primarily for Smart Phone Health Care, but contributes to several Health Care Scene blogs, including EMR Thoughts, EMR and EHR, and EMR and HIPAA. She enjoys learning about Health IT and mHealth, and finding ways to improve her own health along the way.

Aquistions

Streamline Health announced last week that the company will be acquiring Meta Health Technology, a “leading provider of health information management solutions for hospitals, clinics, physician group practices and long-term care facilities across the U.S. and Canada,” according to Red Orbit.

Streamline acquired approximately $15 million capital stock from Meta Health which was $13.4 million in cash and $1.6 million in Streamline Health Stock. Robert E. Watson, President and Chief Executive Officer of Streamline Health Solutions, discussed the acquistion:

The Meta suite of solutions, when bundled with our existing solutions, will help current and prospective clients better prepare for this challenge. In addition, the pending release of a computer-assisted coding solution (CAC) will place Streamline Health at the core of addressing the complexities of the ICD-10 transition.

Fundings

Launched in 2009, Breakthrough addresses that fact that one in four Americans suffer from a mental illness. The company is offering a way for users to contact mental health professionals through email or video. It also allows users to find providers based on various criteria including price, specialty, or disorder.

Breakthrough has raised $900k in seed funding from many different investors. The contributors included the following: Ash Patel and Mike Marquez of Morado Ventures, Charles River Ventures, Square COO Keith Robois, Badoo COO Benjamin Ling, Gus Fuldner, PracticeFusion co-founder Matthew Douglass, PayPal Director and former eHealth exec Avery Kadison, Invite Media co-founders Nat Turner, and Zach Weinberg.

MyHealthTeams is a start up that develops communities, both socially and locally, for those who live with or help those with chronic conditions. The startup announced on Tuesday a $1.75 million round today. The round was led by Adams Street Partners, with participation from 500 Startups.

According to TechCrunch.com, MyHealthTeams’ mission is:

To make it easy for people to quickly find and connect with a network of other people who are in a similar position and can understand the challenges faced via its own condition-specific social networks. In addition, members can also easily find referrals of local providers and businesses best suited to help them — and this, presumably, is part of the business model.

The funding is going toward expanding the company.

and finally, Patientco Ink raised $3.75 million in a Series A financing. The round was led by BlueCross Blue Shield Venture Partners and Sandbox Industries. In addition, as a result to the financing, the Managing Director of Sandbox Industries, Tom Hawkes, will be joining Patientco’s board of directors.

A press release concerning the financing described Patientco:

Patientco simplifies the challenges of understanding healthcare expenses for patients so they pay their healthcare providers faster. Already more than one million patients across 20 states securely receive, pay and track their healthcare expenses via Patientco. Patientco’s proprietary technology integrates with physician and hospital information systems to provide a comprehensive communication, payment and reconciliation solution.

Sandbox Industries invested in the company to help develop and further Patientco’s solution and “to solve the increasing healthcare payments problem.”

Thank you to Rockhealth.com for putting together a list of fundings and acquisitions each week. Be sure to check out their weekly newsletter!

PotikDok Raises $1.3 million, 23andMe Acquires CureTogether, and Merkle Acquires 5th Finger

Posted on July 20, 2012 I Written By

Katie Clark is originally from Colorado and currently lives in Utah with her husband and son. She writes primarily for Smart Phone Health Care, but contributes to several Health Care Scene blogs, including EMR Thoughts, EMR and EHR, and EMR and HIPAA. She enjoys learning about Health IT and mHealth, and finding ways to improve her own health along the way.

Fundings

A startup from Silicon Valley, PokitDok, has recently raised $1.3 million in seed round funding. Pokitdok is a health and wellness startup that “aims to provide its members with the information and resources they need to make the very best health and wellness related decisions for themselves and their families.

Among investors in Pokitdok were Charles River Ventures and the Ballast Fund. PokitDok is currently in private beta and will be launched nationally on July 17th. The company connects users with with other users and professionals, and discount services can be purchased for certain providers through PokitDok.

Acquistions

5th Finger, a mobile marketing and mobile health vendor, who had numerous clients such as Safeway and Pfizer, was recently acquired by a customer relations management company, Merkle. According to Mobi Health News, the acquistion occured for an undisclosed amount.

5th Finger is well-known for developing Pfizer’s text message vaccine adherence program back in 2011 which sent vaccine reminders, education, and health care information to parents. It has also developed an app for Medtronic, and the company focuses on “medication adherence, health tracking, wellness education, engagement, gamification, and sales support functions.”

23andMe, the startup that invented the “Personal Genome Service” and has the goal of “becoming the go-to resource for personal genetic information, has acquired CureTogether, a similar startup. CureTogether helps its users “create their own research studies, learn about their health, and connect with experts and others who suffer from similar conditions” by providing them with the necessary tools.

From CureTogether, its founders, Daniel Reda and Alexandra Carmichael, will become a part of the 23andMe team. 23andMe will receive many new resources as a result of this acquisition. 23andMe currently has $53 million in fundings and this acquisition appears to be another step in the right direction.

Thank you to Rockhealth.com for putting together a list of fundings and acquisitions each week. Be sure to check out their weekly newsletter!