In a sign of the vibrancy of the region’s health care economy, two local health care companies announced acquisitions of East Coast firms on the same day – Oct. 8.
Early that morning, Glendale-based Reveleer, which provides risk adjustment, care quality and data analytics for health plans and providers, announced it has acquired Annapolis, Maryland-based Curation Health, a platform to provide physicians and care teams with clinical insights.
Just an hour or two later, Westlake Village-based Caldera Medical, which makes women’s health medical devices, announced it has acquired Raleigh, North Carolina-based Uvision360 Inc., maker of the Luminelle brand hysteroscopy and cystoscopy systems.
Neither company disclosed the value of their transactions.
For Reveleer, which rebranded in 2019 from Health Data Vision, this is the second acquisition in the last 18 months. In May of last year, the company purchased New York-based MDPortals, which provides prospective risk adjustment software.
In February, Reveleer announced the completion of a $65 million financing round, led by Palo Alto-based Hercules Capital Inc.
The acquisition of Curation Health marks the first major deployment of capital from that funding round. Curation Health, which was founded in 2018, uses an artificial intelligence platform to provide clinical insights to physicians and other care teams. The platform, which among other things includes 1,400 clinical rules, is integrated into electronic medical records systems used by hospitals and other health care providers.
As a result of the acquisition, according to the announcement, Reveleer customers will have easier access to complete patient information, better patient documentation and more accurate measures of patient health and care quality, all based on real-time insights at the point of care. Additionally, the AI technology will help spot areas where patients may need extra care, and medical records are continually updated, making it easier for providers to follow-up and ensure better patient outcomes.
“We are excited to welcome Curation Health to the Reveleer team as we accelerate our mission to deliver value-based care organizations with unparalleled solutions to improve patient outcomes and optimize financial performance,” Jay Ackerman, Reveleer’s chief executive, said in the announcement. “By combining our technologies and expertise, we are setting a new industry standard for closing care gaps and doing more to empower providers to anticipate and influence an individual’s care plan.”
Caldera Medical’s acquisition
Similarly, Caldera Medical’s acquisition of UVision 360 is aimed at bolstering the medical device maker’s offerings.
Caldera Medical was founded in 2002 to develop medical devices that improve the health and quality of life for women.
The company has focused on devices that use minimally invasive approaches to diagnosis and treatment for conditions affecting women, including stress urinary incontinence, fibroids and pelvic organ prolapse (where a pelvic organ drops from its standard position). It has also developed devices for the hysteroscopic removal of intrauterine tissue.
UVision 360 has developed devices under its Luminelle brand with precision optics for hysteroscopy and cystoscopy procedures. The devices can also provide early diagnoses of uterine cancer, in a way that UVision 360 co-founder and Luminelle inventor Erich Dreyer said is more accurate than traditional biopsies.
“This acquisition strengthens our commitment to offering gynecologic surgeons state-of-the-art tools that streamline hysteroscopic procedures while enhancing patient safety and clinical outcomes,” Byron Merade, chief executive of Caldera Medical, said in the acquisition announcement.
