Paradigm, a provider of value-based care solutions focused on improving the lives of people with complex and catastrophic injuries and diagnoses, announced its acquisition of Welvie, a provider of clinical decision-support solutions for healthcare providers, for an undisclosed amount.
The leadership team of both companies said they believe their core competencies complement each other well. “We work closely with individuals and families throughout the care management and recovery process,” explained Paradigm CEO John Watts. “Welvie’s outstanding consumer education platform will be valuable in helping our clinicians deliver information to those who are facing complex health care issues. Customers of both companies will benefit from the combined force of Paradigm’s expertise and resources and Welvie’s market-leading decision support platform.”
Welvie will operate as a separate business unit within the Paradigm enterprise, led by Chip Tooke, Welvie’s CEO, and supported by his outstanding management team and employees.
Commenting on the M&A news, Chip Tooke said: “Paradigm’s deep clinical expertise will add a new dimension to Welvie’s decision-support programs. “The added high-touch clinical support will enhance our ability to help consumers understand health information and use it to make more informed choices with their doctors.”
The acquisition of Welvie closed on January 2023. The financial terms of the transaction were not disclosed. Triple Tree served as the exclusive financial advisor to Welvie for this transaction.
M&A activity
More than 200+ clinical decision support software companies have been acquired to date, according to our digital health M&A database. More recently, Olympus, a Japanese manufacturer of optics and reprography products, agreed to acquire Odin Vision, a provider of an AI-guided endoscopy-focused clinical decision support system for healthcare providers and hospitals, for £66 million.
In another deal, Halma, a British global group of safety equipment companies that makes products for hazard detection and life protection based in Amersham, England, acquired PeriGen, a provider of an artificial intelligence-guided clinical decision support tool for obstetrics, for $58 million in cash.
