Athenahealth today said it has acquired RazorInsights, an Atlanta-based cloud-based EHR vendor and hospital finance group for rural and critical access hospitals.
Terms of the deal were not disclosed.
The move represents a significant foray into the rural hospital space for Massachusetts-based athena, which said the acquired startup will strengthen cloud-based offerings in remote areas and will “accelerate its work to advance connectedness across the care continuum.”
athenahealth said it plans to leverage RazorInsights’ inpatient expertise and technology to extend its presence into the 50-bed-and-under inpatient care environment, which accounts for approximately one-third of the U.S. hospital market.
“Today’s hospital market is woefully under served when it comes to IT systems and IT partners that are accountable for reducing costs, increasing quality, and enabling a better patient experience,” said Jonathan Bush, chairman and CEO of athenahealth, in a statement.
RazorInsights has served the often struggling rural hospital market, attempting to ease the pressures of consolidation, much of it driven by Meaningful Use and the mandate to add EHRs.
“In light of pressures to consolidate, and in some cases, even shut down operations, there is a large and growing market for technologies and services that enable hospitals to deliver higher levels of patient care, reduce costs, and more effectively manage care at the population level,” said Reed Liggin, President of RazorInsights, in a statement.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
RazorInsights is a Bluff Point Associates portfolio company. The acquisition follows athenahealth’s announcement that it will open a San Francisco accelerator, along with the investment into two new portfolio companies, RubiconMD and CredSimple.
