Health Catalyst, a leader in health care data warehousing, analytics, and outcomes improvement, recently announced that it has acquired Health Care DataWorks (HCD), a provider of business intelligence for health systems.
HCD is a privately-held company based in Columbus, Ohio, that provides health systems with data warehousing tools to improve their quality of care and reduce costs. The cash-and-stock purchase closed on July 31.
Health systems are increasingly using data warehousing and analytics to leverage their terabytes of data for improvements in patient care and the bottom line. This agreement reinforces Health Catalyst's commitment to helping health care organizations become more efficient and effective in their operations and care delivery.
As part of the agreement, HCD's health system customers have become Health Catalyst customers, including Cedars-Sinai Medical Center, El Camino Hospital, MemorialCare Health System, Orlando Health, and Tampa General Hospital. Additionally, Cedars-Sinai and MemorialCare have become investors in Health Catalyst, joining other Health Catalyst customer-investors Kaiser Permanente, Partners HealthCare, Allina Health, and Indiana University Health.
"Cedars-Sinai has benefited significantly from its relationship with HCD over the past few years, and we expect our partnership to deepen and strengthen as HCD merges with Health Catalyst," says Darren Dworkin, chief information officer of Cedars-Sinai Medical Center and former HCD board member.
Brant Heise, managing director of MemorialCare Innovation Fund, the health system's investment arm, adds, "We are delighted to become investors in Health Catalyst. We believe in Health Catalyst's mission and operating principles, and anticipate a deep and mutually beneficial long-term relationship."
Dan Burton, CEO of Health Catalyst, says, "We're looking forward to working with the leaders of each of HCD's health system clients to help accelerate outcomes improvement for these organizations. We are also excited to welcome the data warehousing team of HCD, including several of the founding members of the renowned Ohio State University data warehouse program, as part of Health Catalyst. This merger strengthens our ability to offer health systems the most complete and flexible health care data warehousing and analytics solution, with proven services to help our clients identify and sustain meaningful improvements."
Jyoti Kamal, PhD, vice president of Health Catalyst, former president of HCD, and a recognized health care analytics visionary, says, "We couldn't have found a better partner for HCD than Health Catalyst. The two companies' missions, cultures, and operating principles are closely aligned and we share a commitment to working closely with health care organizations to improve the quality of care for all individuals. I look forward to taking that mission to the next level as part of the team at Health Catalyst."
Source: Health Catalyst