Chicago-based ContextMedia: Health, which makes a healthcare decision-making platform, has announced it will acquire point-of-care patient education company AccentHealth. The amount of acquisition is undisclosed, but ContextMedia: Health did say it will be an all-cash transaction.
Founded in 2006, ContextMedia: Health has been steadily growing in the past year, adding almost one percent of all practices in the US each month. The company’s platform is deployed in clinics, hospitals and health systems around the country via a "digital waiting room" monitor as well as a mobile app, and offers a portfolio of interactive technologies including video-based engagement and assessment tools, tablets, anatomical boards, and 3D anatomical or condition models.
With the acquisition of AccentHealth, ContextMedia: Health will reach 55,000 healthcare locations and power 500 million health consultations in US doctor offices each year, which the company says puts them on track to be in 70 percent of all healthcare practices in the country by 2020.
ContextMedia: Health CEO Rishi Shah said the company’s goal is to be in every consultation room in the world, and the acquisition brings them closer to their vision of “achieving ubiquity.”
“ContextMedia has a vision to embed actionable information and intelligence into every critical healthcare decision,” Shah said in a statement.
According to the CDC, 80 percent of healthcare costs are attributed to treatment of chronic conditions. ContextMedia: Health aims to reduce those costs by improving comprehension, conversion and compliance of chronic disease treatments and lifestyle choices.
“Our healthcare decision technologies drive better health outcomes by powering collaboration between consumers and their healthcare providers, transforming the communication of treatments and conditions, offering technology for early detection and simplifying complex health information,” Shah said.
The transaction is expected to close by the end of the year.