Burgeoning healthcare analytics company Health Catalyst is growing again. Wednesday, the Salt Lake City-based firm announced that it has acquired competitor Health Care DataWorks, of Columbus, Ohio.
“The two companies’ missions, cultures and operating principles are closely aligned and we share a commitment to working closely with healthcare organizations to improve the quality of care for all individuals,” former HCD President Jyoti Kamal said in a statement provided by Health Catalyst. With the acquisition, which closed Friday, Kamal has become vice president of Health Catalyst.
Privately held Health Catalyst did not disclose the purchase price, but did say that two Health Care DataWorks customers, namely Cedars-Sinai Medical Center and MemorialCare Health System, both in Southern California, have invested in Health Catalyst.
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“We believe in Health Catalyst’s mission and operating principles, and anticipate a deep and mutually beneficial long-term relationship,” Brant Heise, managing director of the MemorialCare Innovation Fund, said.
Other customers that have previously invested in Health Catalyst include Kaiser Permanente, Boston-based Partners HealthCare, Allina Health in the Minneapolis-St. Paul area and Indiana University Health. Health Catalyst originally was spun out of Intermountain Healthcare in 2008, while HCD grew out of the Ohio State University Wexner Medical Center at about the same time.
Among the HCD clients that Health Catalyst has picked up are Tampa General Hospital and Orlando Health in Florida, as well as El Camino Hospital in Silicon Valley.
Health Catalyst has been rumored to be planning an initial public offering; a Rock Health survey of investors in digital health named the company as a top IPO candidate this year. So far, Health Catalyst executives have remained mum on the subject.
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