BURLINGTON, Mass.--(BUSINESS WIRE)--HealthEdge®, provider of the only modern, enterprise-class software platform for healthcare payors, today announced that it has acquired Click4Care, a software company that provides industry-leading care management and utilization management solutions for healthcare payors. This acquisition brings a first to the market, adding next-generation clinical capabilities to the award-winning HealthRules product suite. This will allow HealthEdge clients to manage all aspects of their businesses with a single platform, using a unique, end-to-end offering that will enable them to successfully compete in the new healthcare economy in a way that is not possible with other offerings.
“We are tremendously excited by the prospects for a combined HealthEdge and Click4Care. As an investor in both companies, we see the synergies inherent in a combined platform and look forward to HealthEdge continuing on its path to be the dominant player in the payor IT marketplace.”
“Our customers, prospects and the healthcare industry have been calling for a single, enterprise-class platform that will enable them to simultaneously manage all of the administrative, financial and clinical aspects of their businesses,” said Rob Gillette, Chief Executive Officer of HealthEdge. “The acquisition of Click4Care presents a unique opportunity for HealthEdge, Click4Care, the employees of both companies and our customers. We will be providing the market, for the first time, with a product suite that will enable them to leverage new healthcare business models, significantly reduce administrative costs and provide real-time information to everyone involved in the healthcare delivery cycle.”
Albert Waxman, Chairman of HealthEdge and Senior Managing Member of Psilos Group, HealthEdge's largest shareholder, commented, "We are tremendously excited by the prospects for a combined HealthEdge and Click4Care. As an investor in both companies, we see the synergies inherent in a combined platform and look forward to HealthEdge continuing on its path to be the dominant player in the payor IT marketplace."
“As a customer that independently selected first Click4Care and then HealthEdge, we can see the power of a combined product suite,” said Bill Jollie, Chief Operating Officer at WEA Trust. “Separately, each company offers a flexible, feature-rich solution to help us compete in the new healthcare economy. Together, HealthEdge and Click4Care bring a truly comprehensive, next-generation healthcare business platform that eclipses anything on the market. We see exciting opportunities to integrate member and provider information and analytics support with traditional transaction capability. This combined power just doesn’t exist among alternative product lines.”
The acquisition of Click4Care will allow HealthEdge to fully support next-generation healthcare business models, including accountable care organizations (ACOs), value-based benefits (VBBs), health insurance exchanges (HIEs) and pay-for-performance (P4P). It will also enable HealthEdge to provide an exciting array of cutting-edge solutions that will be announced in the coming months, to meet upcoming market, regulatory and business imperatives.
The acquisition is expected to close later this month pending final approval by the shareholders.
HealthEdge® provides the only modern, enterprise-class software platform for healthcare payors. Using the patented HealthRules® software suite, health plans, health insurance companies, and other payors can finally respond to new business opportunities and market changes in hours, not months or years, while drastically reducing both IT and operational costs. Leveraging an investment of over $150 million, HealthRules is the most modern, scalable, and cost-effective technology in the industry. HealthEdge is the only choice for payors to survive and thrive in the emerging healthcare economy. For more information, visit www.healthedge.com.