Health Catalyst, a Salt Lake City-based health tech company, has acquired Madison’s healthfinch for $40 million.
Healthfinch, founded in 2011, created Charlie, a platform to automate the prescription refill request workflow, assist in pre-visit planning and identify care gaps. The company has raised roughly $18 million in capital, mostly recently raising $5.7 million in 2018, according to Crunchbase. Healthfinch employs 40 people.
“We started healthfinch ten years ago with a mission to build tools on EMR platforms that would simultaneously make life easier for doctors and better for patients,” said Lyle Berkowitz, healthfinch co-founder, chairman and chief medical officer, in a statement. “We are now incredibly excited to take our company to the next level by joining with Health Catalyst to supercharge our ability to simplify, automate, and delegate clinical care via our combined data analytics, rules engines and EMR integrations. Their people, culture, vision and technology and industry success truly make them an ideal partner.”
Health Catalyst revealed the financial details of the acquisition through a recent Securities and Exchange Commission filing. The company generated $154.9 million in revenue in 2019, and the acquisition deal is expected to close in the third quarter of 2020.
“This acquisition highlights Health Catalyst’s ability to integrate and scale software applications on top of our DOS (data operating system) platform,” said Dan Burton, Health Catalyst's CEO, in a statement. “The healthfinch technology will easily serve up actionable insights, derived from DOS and other Health Catalyst analytics applications into the EMR at the point of care.”
