Atlanta, GA, October 30, 2014 – CHILDS Advisory Partners (“CHILDS”) served as the exclusive financial advisor to Best Doctors, Inc. (“Best Doctors”), the global health company that brings together the best minds in medicine to help people get the right diagnosis and treatment plan, for its acquisition of Rise Health. Rise Health is a leading population health management company. The acquisition provides Best Doctors® with data integration and advanced analytics capabilities to add to its care management platform and expansion into new markets.
“For over 25 years, Best Doctors has been innovating to help employers and health plans ensure that their members combat medical uncertainty with access to the best medical minds,” said David Seligman, Chairman and CEO of Best Doctors. “With the acquisition of Rise Health and its robust software platform and application development team, we can take that medical excellence and turn actionable insight into personalized engagement to deliver the right care, leveraging Best Doctors' global delivery model.”
Chicago-based Rise Health has built a comprehensive population health platform that develops intelligent, actionable data at a population level, and supports care delivery teams in taking action at the member level. The Company provides tools to help payers and providers manage the transition from fee for service to value based care. Designed specifically for today’s risk-sharing environments, Rise Health’s sophisticated technology is intended for results. Through a vertically integrated product suite that includes Ascend Enterprise Platform, Stratus Population Health Analytics application and Cirrus Patient Relationship Manager, Rise Health offers a complete solution that enables clinical surveillance and improves operational processes. Together with Rise Health, Best Doctors has the ability to reach across all market segments with a combined solution offering analytic insights and medical expertise in an intimate consumer-centric experience. Benefits of the transaction include:
Enhanced Revenue Streams from Complementary Products
Rise Health adds significant and stable recurring revenue streams from its innovative suite of products. These include Ascend, a robust and highly scalable cloud platform that integrates payer, EMR, and other clinical data streams, as well as Stratus, a data visualization and analytics platform, and Cirrus, a healthcare focused CRM tool for providers to manage their patient populations. SAAS based revenue from these products enhance recurring revenue from existing products and services for Best Doctors.
Talented and Accomplished Employees with Extensive Health Care Research and Development
Experience Rise Health brings a dedicated, talented team of professionals whose healthcare knowledge and expertise has established Rise Health as a premier provider of software based population health solutions. Part of this employee base includes research and development staff whose experience includes developing applications for emergency rooms at IBEX, Picis, and Optum. The result is an experienced research and development, support and services organization focused on delivering reliable and efficient data and analytics solutions to the healthcare industry.
Rapid Development Capabilities of Technical Intellectual Property
The Rise Health platform provides a highly-secure cloud platform that scales to meet the requirements of the largest enterprises and integrates with major health plans and providers. The Rise Health Ascend platform brings together data from the entire health care ecosystem, including clinical, claims, and consumer, and combines it with internal data generated from use of Rise Health and Best Doctors applications. That database already includes highly acute and complex cases where Best Doctors has demonstrated a meaningful improvement on outcomes for the 3% of the population driving 40% of all health care spending in the United States.
About Best Doctors, Inc.:
Best Doctors works with the best five percent of doctors, ranked by impartial peer review, to help people get the right diagnosis and right treatment. Gallup has certified Best Doctors as using the highest industry standards survey methodology and processes in polling physicians to discover the doctors they would choose for their own care. Founded in 1989 by Harvard Medical School physicians, the global health solutions company, which has grown to over 30 million members worldwide, uses state-of-the-art technology capabilities to deliver improved health outcomes while reducing costs. Best Doctors seamlessly integrates its trusted health services with Fortune 1000 employers, insurers and other groups in every major region of the world. For further information, visit Best Doctors at www.bestdoctors.com.
About Rise Health:
Rise Health provides payers, provider organizations and healthcare information technology partners with the tools necessary to achieve the “Triple Aim” of healthcare: Improve quality, Improve patient outcomes and Lower healthcare costs. Through a vertically integrated product suite that includes Ascend Enterprise Platform, Stratus Population Health Analytics application and Cirrus Patient Relationship Manager, Rise Health offers a complete solution that closes gaps and improves operational processes at the practice. To learn more, visit www.risehealth.com.
About CHILDS Advisory Partners
CHILDS Advisory Partners provides exceptional investment banking services to high‐performing business services and technology companies. Our unique combination of global sector focus, process excellence and strength of team allow us to achieve successful outcomes for our clients. Collectively, our senior bankers have executed over 450 M&A and financing transactions. CHILDS is a member of FINRA and SIPC and is a registered broker‐dealer.
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