Healthcare decision platform ContextMedia is acquiring AccentHealth, which provides patient education at the point of care, in an all-cash purchase. As a result, ContextMedia will emerge as the largest healthcare decision platform at the point of care in the United States, with a rapidly growing reach across clinics, hospitals and health systems.
During this year, ContextMedia has been adding nearly one percent of all practices in the country each month and continues to grow, with the goal to have a presence in seventy percent of all practices in the U.S. by 2020.
“ContextMedia has a vision to embed actionable information and intelligence into every critical healthcare decision,” Rishi Shah, ContextMedia Founder and CEO, said in a statement. “Our healthcare decision technologies drive better health outcomes by empowering collaboration between consumers and their healthcare providers, transforming the communication of treatments and conditions, offering assessment technology for early detection and simplifying complex health information.”
ContextMedia’s offering includes large format tablets that offer physicians 3D anatomical and condition models, and video-based patient engagement and assessment tools, among other things. With AccentHealth’s network of practices under its sleeve, the company will continue to transform the way healthcare providers and patients make healthcare decisions together. Together, the two companies will reach 55,000 healthcare locations.
“This deal will accelerate growth and innovation at the point of care to benefit the patients we serve,” Dan Stone, CEO of AccentHealth, said in a statement. “ContextMedia is respected in the industry for technology innovation at scale and we are deeply aligned on the mission to educate and empower people to live healthier lives.”
The transaction is expected to close by the end of the year subject to customary closing conditions. J.P. Morgan Securities LLC acted as exclusive financial advisor and Kirkland & Ellis LLP acted as legal advisor to ContextMedia. JPMorgan Chase Bank, Goldman Sachs and Citizens Bank will provide financing. Moelis & Company acted as exclusive financial advisor and Alston & Bird LLP acted as legal advisor to AccentHealth.