Healthgrades, the leading resource that connects consumers, physicians
and health systems, today announced it has acquired Evariant, a leading
healthcare consumer and physician engagement company. With the
combination of these two market leaders and innovators, Healthgrades
will offer the most comprehensive end-to-end engagement platform in the
healthcare industry, enhancing the company’s value proposition for its
combined base of 2,000+ hospitals and life sciences customers.
Healthgrades’ products and services enable physicians and health systems
to optimize growth through smarter consumer acquisition, patient
retention and physician network utilization strategies. The combined
offering includes:
-
the most advanced healthcare customer relationship management (HCRM)
solution; - a leading physician relationship management (PRM) solution;
-
an Engagement Center application that transforms call centers into
profit centers; -
a web content management solution (CMS) supporting an integrated
digital experience; -
a full-service healthcare marketing agency and strategic services arm
focused on accelerating ROI; -
and the most comprehensive consumer website to help educate consumers
and connect them with a physician.
This integrated technology platform will leverage more than 30 years of
experience with predictive analytics and patient communications to
engage consumers at every step of the patient journey, redefining their
relationships with healthcare providers in the digital age.
Terms of the transaction were not disclosed. Evariant shareholders will
retain a minority stake in the combined company and will have a
representative on the Board of Directors. Healthgrades is a Vestar
Capital Partners portfolio company.
“Following the successful integration of Influence Health, this
acquisition further positions Healthgrades to lead the industry in
improving connections between consumers and providers across multiple
solutions and media channels,” said Rob Draughon, CEO, Healthgrades.
“Since the beginning of 2019, Healthgrades has significantly expanded
its product suite, added exciting new talent, and enhanced its ability
to innovate, invest and grow. Our goal remains clear: to better inform
consumers along their health journey, powered by data and insights,
improving the overall care experience and ultimately driving improved
health outcomes.”
“At Evariant, we have successfully partnered with health systems to
achieve high-value service line growth, extend patient lifetime value
and improve network utilization and planning,” said Clay Ritchey, CEO,
Evariant. “We are excited to become a part of Healthgrades and look
forward to the significant opportunities ahead as the scale of our
combined companies will fuel expansion of our products, services and
support resources to benefit our collective client base.”
“Healthgrades is a pioneer in healthcare information, and with the
addition of Evariant, the company will become the most comprehensive
healthcare communications platform in the industry,” said Norm Alpert,
chairman of Healthgrades and co-president of Vestar. “Merging the best
features of both companies creates an unrivaled solution set for health
systems to engage with consumers, patients, providers and other
constituencies on a new level.”
MTS Health Partners, L.P. acted as financial advisor and Kirkland &
Ellis LLP acted as legal advisor to Healthgrades. Piper Sandler served
as financial advisor and Goodwin Procter LLP served as legal advisor to
Evariant. Financing for the transaction was provided by CRG, L.P. and
CIBC Bank USA.
About Evariant
Evariant, the healthcare consumer and physician engagement company,
enables providers to optimize growth through smarter patient acquisition
and retention. Our customers achieve indisputable value through
high-value service line growth, improving provider network utilization
and planning, and extending patient lifetime value. The Evariant
Patients for Life Platform™ delivers actionable intelligence that
enables healthcare providers to execute best next actions to find, guide
and keep patients for life. For more information, visit evariant.com.
About Healthgrades
Healthgrades is dedicated to empowering stronger and more meaningful
connections between patients and their healthcare providers. At Healthgrades,
we help millions of consumers each month find and schedule appointments
with their provider of choice. With our scheduling solutions and
advanced analytics applications, we help our health system and life
sciences clients cultivate new patient relationships, improve patient
access, and build customer loyalty. For more information, visit: https://partners.healthgrades.com.
At Healthgrades, better health gets a head start.
About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity
firm specializing in management buyouts and growth capital investments.
Vestar invests and collaborates with incumbent management teams and
private owners to build long-term enterprise value, with a focus on
Consumer, Healthcare, and Business Services. Since its founding in 1988,
Vestar funds have invested $8 billion in more than 80 companies – as
well as more than 200 add-on acquisitions – with a total value of
approximately $50 billion. For more information on Vestar, please visit www.vestarcapital.com.
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