Healthcare information provider Vitals has acquired Bedford, N.H.-based Compass Healthcare Advisers for an undisclosed amount.
According to Vitals’ CEO Mitch Rothschild, the missions of the two companies are so “strategically aligned” that Vitals couldn’t pass up the chance to buy Compass. Vitals has about 150 employees, whereas Compass has around 20, who will stay in New Hampshire.
Vitals provides a service that allows patients to rate doctors, while Compass offers patients cash incentives if they choose to get medical care from lower-cost health care providers. Vitals was founded in 2008 and serves about 25 million consumers.
Compass allows patients to save money on healthcare costs by choosing a lower-cost provider such as an ambulatory surgery center, urgent-care center or imaging center, rather than a hospital. The company works with health plans in only two states — New Hampshire and Kentucky — and with the help of Vitals, it will be able to expand to other states.
Vitals is a privately held company and is thus not obliged to release numbers. For what it matters, it has repeatedly been named to Inc. magazine’s list of the fastest-growing companies in New Jersey.