Arcadia, a leading data platform for healthcare, announced the acquisition of CareJourney, a preeminent provider of clinically relevant healthcare data and AI-powered analytics and insights. This strategic acquisition blends Arcadia’s next-generation healthcare data platform, proprietary analytics, and workflow tools with CareJourney’s cost, quality, and benchmark data. CareJourney derives market-leading analytics from Medicare, Medicaid, Medicare Advantage, and Commercial claims data across more than 300 million beneficiaries and over 2 million providers nationwide. Payers, providers, and employers can use these actionable insights to accelerate growth and improve performance.
With the integration of CareJourney, Arcadia will help healthcare organizations succeed in two ways. First, delivering an expanded breadth of data to fuel advanced analytics that help organizations shape their strategies and focus on what matters — like navigating alternative payment models, market expansion, and new partnership models. Second, a fast, scalable, and interoperable platform with the operational tools required to act and execute opportunities to improve patient and financial outcomes.
Collectively, the organizations further enable healthcare customers to put data to work at the speed, scale, and sophistication required to grow high-performing networks, accelerate digital transformation, and succeed in value-based care.
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“The transaction marks the beginning of a new chapter of growth for our business, with plans to improve healthcare outcomes through data-driven insights and AI-driven tools and expand further our provider, payer, and government sectors,” said Michael Meucci, President and CEO of Arcadia. “Arcadia committed to using $125 million in financing from Vista Credit Partners to accelerate platform innovation, company growth, and leadership in healthcare data analytics. We did exactly that by launching a next-generation data platform for healthcare, expanding our ecosystem of solutions and partners to drive innovation, and now acquiring CareJourney, a leader in helping healthcare organizations thrive through actionable analytics and insights.”
The acquisition enhances Arcadia’s ability to provide comprehensive, data-driven solutions with nimbleness and responsiveness, ensuring that customers can shape their strategies effectively. For Arcadia customers, the acquisition will provide access to additional data sources for enhanced benchmarking, network performance modeling, and evaluating growth strategies. For CareJourney customers, the integration will offer a robust healthcare data platform with enhanced speed, reliability, and scalability, as well as workflow tooling to connect insights to action.
“As our health system matures our approach to value-based care, I’m delighted to see two of our most trusted data platform partners coming together,” said Dr. Omar Lateef, President and CEO of Rush University System for Health and Rush University Medical Center. “We will benefit from their collaborative approach to understand how to grow responsibly and execute more precisely.”
Arcadia is trusted by the nation’s leading healthcare brands, including Southwestern Health Resources, Tandigm, Castell, Rush Health, and Beth Israel Lahey Health.
SOURCE: GlobeNewswire