Innovaccer announced a new acquisition on Tuesday. The health data analytics company is now the sole owner of Cured, a Denver-based healthcare digital marketing and customer relationship management (CRM) platform. The terms of the deal were not disclosed.
With the deal, Innovaccer gains more than 20 customers to add to its current portfolio of about 95 health system and digital health clients. Some of Cured’s customers include Sutter Health, UCHealth, VCU Health and HonorHealth.
The main goal of the acquisition was to help Innovaccer become a leader in patient experience technology, CEO Abhinav Shashank said in an interview.
The acquisition will help Innovaccer execute its “forward strategy,” Shashank remarked. He explained that this strategy, which Innovaccer put in place about two and a half years ago, centers on three pillars: powering the shift toward value-based care, transitioning from encounter-based care to experience-driven care, and boosting productivity through AI.
Innovaccer wanted to make an acquisition to help it deliver on the experience-driven care pillar, Shashank noted. He said Innovaccer looked at “a lot of companies” in the healthcare digital marketing and CRM space and Cured stood out as the best acquisition target due to the strength of its technology.
Cured, which was founded in 2018, offers tools that make it easy for providers to personalize patients’ care journeys, as well as strengthen patient loyalty and enhance their brand presence. Innovaccer plans to merge those tools with its data analytics capabilities to give providers a more comprehensive platform for patient engagement and experience improvement.
Combining both companies’ technologies will allow customers to “engage the patient at all parts of their care journey and provide an experience that is so much better than what exists today in the healthcare ecosystem,” Shashank explained.
He also pointed out that Cured is a “very data-first business,” similar to Innovaccer.
“Everything they’ve built is on a foundational data model that they’ve created around the patient. They bring in data from various sources and are able to do a lot of experience things so much better and in a more automated way than the way others are doing it — they just reduce the burden for the user in a very, very significant way,” Shashank declared.
Cured’s three cofounders — Andrew Sawyer, Ashmer Aslam and Rohit Narayan — will assume leadership roles within Innovaccer to lead the company’s patient engagement and experience strategy, he added.
Photo: LeoWolfert, Getty Images
