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Revenue-cycle management company R1 RCM on Monday said it plans to acquire Cloudmed in an all-stock transaction that values Cloudmed at roughly $4.1 billion. Cloudmed uses artificial intelligence and automation to analyze medical records, payment data and medical insurance models for revenue-cycle management. The company has more than 3,100 healthcare provider customers. The acquisition fits into R1's vision of creating an end-to-end platform for managing revenue cycle for providers and engaging patients around payment. "We have been very deliberate and very consistent in terms of our excitement around the long-term automation potential that exists in this industry," said Joe Flanagan, R1's president and chief executive officer, Monday at a conference. "This transaction significantly increases our data footprint and we are positioned very well for meaningful innovation in and around data." Cloudmed's data will accelerate R1's work in machine learning, which requires data to create accurate models, Flanagan said at J.P. Morgan's annual healthcare conference--which is virtual for the second year due to the COVID-19 pandemic.
Oracle's gargantuan $28.3 billion acquisition of health care data company Cerner, the largest deal in its 44-year history, is not just about electronic patient records. From algorithmic systems that predict the likelihood a patient will contract sepsis to tech that tracks hospital bed capacity, Cerner will bring an array of cloud-based data analytics and AI technologies to Oracle as it competes with Amazon Web Services, Google, IBM and others to serve the health care industry's data and AI needs. In fact, the deal is poised to shift some business away from AWS, which Cerner named as its preferred cloud partner in 2019. Oracle's acquisition of Cerner, a company that got its start in health care IT in 1979, is expected to close in 2022. The all-cash deal is also expected to improve Oracle's bottom line in its first year, the company said in a press release.
There's a massive announcement set to take place later this year, and it could change the $12 trillion healthcare industry forever. Over the last 2 years, we've seen a huge transformation as businesses across nearly every industry have gone digital. And with the health crisis sweeping the globe last year, the healthcare sector was no different. Mentioned in today's commentary includes: Brookfield Renewable Partners L.P. (NYSE: BEP), LifeStance Health Group, Inc. (NASDAQ: LFST), Teladoc Health, Inc. (NYSE: TDOC), Mind Medicine (MindMed) Inc. (NASDAQ: MNMD), American Well Corporation (NYSE: AMWL). That's why we're now on the verge of a healthcare revolution, set to leverage the latest technology to disrupt a bloated and complicated system.
The US health and medical insurance industry is a $1.1-trillion maze that is impossible to navigate. And in the bigger scenario of a massive $11-trillion-plus global healthcare industry, America is definitely not first. Americans are fed up, and a digital revolution that goes way beyond telemedicine is the only thing that will restore control. Fixing it is a highly disruptive, multi-trillion-dollar opportunity. Telemedicine, or'Telehealth', will soar from $42 billion in 2018 to $400 billion in 2026. Healthcare IT alone will be worth $390 billion by 2024.
The US health and medical insurance industry is a $1.1-trillion maze that is impossible to navigate. And in the bigger scenario of a massive $11-trillion-plus global healthcare industry, America is definitely not first. Americans are fed up, and a digital revolution that goes way beyond telemedicine is the only thing that will restore control. Mentioned in today's commentary includes: Sage Therapeutics, Inc. (NASDAQ: SAGE), Cassava Sciences, Inc. (NASDAQ: SAVA), COMPASS Pathways plc (NASDAQ: CMPS), Neuronetics, Inc. (NASDAQ: STIM), Acadia Healthcare Company, Inc. (NASDAQ: ACHC). Fixing it is a highly disruptive, multi-trillion-dollar opportunity.
Ran Poliakine, Chairman and CEO and Erez Meltzer, Director, will host industry experts and Nanox team members to share the Company's AI vision of the integration of the AI technologies with the Nanox.ARC and Nanox.SOURCE NEVE ILAN, Israel, Sept. 24, 2021 (GLOBE NEWSWIRE) -- NANO-X IMAGING LTD ("Nanox" or the "Company," Nasdaq: NNOX), an innovative medical imaging technology company, today announced that Ran Poliakine, Chairman and Chief Executive Officer, and Erez Meltzer, Director (appointed CEO effective January 1, 2022), will host a Nanox AI Vision event. About Nanox: Nanox, founded by the serial entrepreneur Ran Poliakine, is an Israeli corporation developing a commercial-grade digital X-ray source designed to be used in real-world medical imaging applications. Nanox believes that its novel technology could significantly reduce the costs of medical imaging systems and plans to seek collaborations with world-leading healthcare organizations and companies to provide affordable, early detection imaging services for all. For more information, please visit www.nanox.vision. Forward-Looking Statements This press release may contain forward-looking statements that are subject to risks and uncertainties.
There is mounting public concern over the influence that AI based systems has in our society. Coalitions in all sectors are acting worldwide to resist hamful applications of AI. From indigenous people addressing the lack of reliable data, to smart city stakeholders, to students protesting the academic relationships with sex trafficker and MIT donor Jeffery Epstein, the questionable ethics and values of those heavily investing in and profiting from AI are under global scrutiny. There are biased, wrongful, and disturbing assumptions embedded in AI algorithms that could get locked in without intervention. Our best human judgment is needed to contain AI's harmful impact. Perhaps one of the greatest contributions of AI will be to make us ultimately understand how important human wisdom truly is in life on earth.
Enterprise analytics company Clarify Health has secured $115 million in series C funding to scale its self-service healthcare analytics cloud and business software. Clarify Health combines longitudinal data for more than 300 million "unique patient lives" from government and commercial claims, electronic health records (EHRs) and prescriptions, according to the company. These data can help healthcare professionals manage population health and commercialize pharmaceutical and biotechnology products. "By linking CMS claims data with commercial claims, EHR, prescription and socioeconomic data, our models are trained on large cohorts and a more complete picture of each patient's longitudinal healthcare journey," Clarify Health CEO Jean Drouin, M.D., told Fierce Healthcare. The San Francisco-based company was launched in 2015 and has raised $178 million to date, according to Crunchbase.
Promaxo, an AI-powered medical imaging enhancement platform, announced the closing of an investment round of $4.17 million led by Huami. The medical technology company plans to use the new funds to accelerate its data strategy as it continues to incorporate artificial intelligence in imaging and image-based interventions. Using a combination of linear and genetic optimization algorithms, the company's medical imaging system forms the magnetic field within the field of view to maintain linearity and uniformity constraints while being thermally stable, the company said. "As an industry, we are just scratching the surface of how powerful MRI is poised to become in guided interventions, and we are proud to have Huami as a strategic investor as we introduce our truly open MRI system to the masses," said Dr. Amit Vohra, founder, and CEO of Promaxo. "Huami's mission is to connect health with technology, and we see tremendous opportunity in imaging to expand our growth opportunities. Companies such as Promaxo are disrupting the locations, applications, and costs of medical imaging. Huami has resources, such as miniaturization engineering expertise, that can help accelerate Promaxo's scaling, growth, and success, and we look forward to what our partnership can develop," said Huami Chief Operating Officer Mike Yeung.
Acquisition Expands Medtronic's Artificial Intelligence and Data Capabilities, Becoming the First Company to Offer an Integrated Spine Solution Including AI-Driven Surgical Planning, Personalized Spinal Implants and Robotic Assisted Surgery DUBLIN, Nov. 16, 2020 /CNW/ -- Medtronic plc (NYSE:MDT), the global leader in medical technology, today announced that it has completed its friendly tender offer for France-based Medicrea International (Euronext Growth Paris: FR0004178572 – ALMED Medicrea; OTCQX Best Market – MRNTF), a pioneer in the transformation of spinal surgery through artificial intelligence (AI), predictive modeling and patient specific implants. On July 15, 2020, the parties announced a friendly voluntary all-cash tender offer at the price of €7.00 per Medicrea share. As a result of completion of the tender offer, Medtronic currently owns in excess of 90% of Medicrea's share capital and voting rights and will shortly request the implementation of a squeeze-out procedure under French law, which will result in Medicrea becoming a wholly-owned subsidiary of Medtronic. This is Medtronic's seventh acquisition completed in 2020 and furthers Medtronic's strategic expansion into AI, machine learning and predictive analytics. Medicrea's product portfolio consists of 30 510(k) cleared or CE Marked implant technologies, utilized in spinal surgeries for adult deformity, pediatric deformity and degenerative disease.