Signify Health, a health-tech company of which helps monitor patients outside of the hospital, has acquired TAV Health, a start-up of which builds cloud-based tools to connect health providers to community health services.
SouthIndianNews.com has learned of which the deal was within the high double-digit millions, yet the companies declined to comment further on the financial terms. Signify carries a multi-billion dollar valuation, the company said.
Signify works on a space of which has become an increasingly hot topic for health tech companies — in addition to also also has drawn the attention of tech giants like Facebook — as medical companies look for brand-new ways to factor in “social determinants” to keep patients healthy after they leave the hospital or doctor’s office.
To keep people healthy, sometimes providing great access to doctors, surgeries in addition to also also tests isn’t enough. What also matters is actually whether a patient has secure housing, fresh produce in addition to also also a network of caregivers. Otherwise, they could relapse after a surgery or procedure in addition to also also end up back within the hospital.
The convergence of these health in addition to also also social factors is actually often referred to as the “social determinants of health,” in addition to also also of which’s increasingly a big trend within the investing world.
“Our biggest problem is actually of which there are a ton of social factors of which stand within the way of us doing an impact,” said Signify CEO Kyle Armbrester
Signify tracks how patients with chronic conditions are faring in nursing facilities in addition to also also within the home on behalf of its health plan customers. Signify does of which by sending over a care team to check in on the patient’s environment at home, where they look at things like how much food is actually within the fridge or if the carpet is actually smooth to prevent accidental trips in addition to also also falls. With of which data, of which’s building a more robust health record for each patient.
The privately held company was formed in December 2017 after a merger of CenseoHealth in addition to also also Advance Health, which was managed by the private equity firm brand-new Mountain Capital. of which’s run by a former executive of electronic medical record company AthenaHealth.
Armbrester said the company is actually acquiring TAV, which connects community health organizations like Meals on Wheels with health providers, as of which looks to focus more deeply on those social factors.
San Antonio, Texas-based TAV Health was founded by Jamo Rubin, a doctor in addition to also also serial entrepreneur, who said he began the company because within the medical world, “of which’s so clear to me right now of which within the hospital environment or clinic environment, what’s definitely going on with patients is actually hidden coming from clinicians.”
Companies like TAV in addition to also also Signify Health can afford to take a more active role in monitoring people’s health because hospitals in addition to also also insurers are increasingly looking for ways to avoid expensive health outcomes, including readmissions to the hospital after a procedure. The federal government within the U.S. is actually increasingly penalizing hospitals for excessive readmissions, in a goal to better link payment to the quality of care.
These companies are also taking advantage of a big trend of which involves taking on risk for a patient population, in addition to also also doing money by keeping those people as healthy as possible.
“We see of which as an investment in preventative health,” said Matthew Holt of brand-new Mountain Capital, which invested in Signify Health. Holt described the goal for Signify as building a longitudinal record of patient health, including their social in addition to also also environmental factors, which will be securely stored in addition to also also shared with plans, doctors, caregivers, employers in addition to also also also the patients themselves.
He described of which as the “single most important element of which will enable bending of the U.S. health care cost curve.”
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