LeanTaaS, a provider of predictive analytics solutions to address capacity management and other operational needs for operating rooms and infusion centers in health systems and hospitals, announced the acquisition of Hospital IQ, a provider of intelligent workflow automation solutions for hospitals.
The acquisition values the combined company at more than $1 billion in enterprise value. The combined business will offer intelligent workflow operation and automation solutions to more than 180 health systems in the U.S.
Commenting on the acquisition news, Mohan Giridharadas, LeanTaaS founder and CEO, said: “We are thrilled to welcome Hospital IQ, a company that shares our passion and expertise for operational optimization in healthcare. The strategic combination of LeanTaaS and Hospital IQ unites the two best companies in hospital operations at a time of profound industry need.”
The terms of the acquisition were not disclosed. This transaction comes just six months after LeanTaaS received a significant growth investment from Bain Capital Private Equity.
“The combination of LeanTaaS and Hospital IQ marks a pivotal moment for the industry. Significant clinical advancements are happening, and our combined company is poised to unlock similar operational achievements,” said Rich Krueger, CEO of Hospital IQ.
Rich Krueger added: “Our teams share the same values — caring deeply about improving healthcare access, quality, and efficiency for everyone. We are excited to work alongside the LeanTaaS team as we continue to forge ahead on a joint mission to make a profound, positive impact on capacity, thus improving the staff and patient experience.”
According to our digital health M&A database, a total of 300+ intelligent healthcare workflow automation software companies have been acquired to date. In a notable transaction, UnitedHealth Group’s Optum UK, a provider of cloud-based medical practice management solutions, acquired EMIS Group, a provider of healthcare workflow management solutions to primary care providers in the U.K., for £1.21 billion in cash. In another deal, ResMed, a medical device company, acquired Medifox Dan, a provider of cloud-based healthcare practice management solutions, from Hg, an investment firm that focuses on healthcare, for $1 billion.
