Health Catalyst, a U.S.-based provider of healthcare data and analytics for care organizations, announced it acquired Lumeon, a Boston- and London-based care management automation startup.
Lumeon’s Care Orchestration technology automates events, tasks, activities and workflows for care teams with the aim of enhancing revenue and easing staff workload.
Health Catalyst conveyed that it will enhance and leverage Lumeon’s offering, making it more robust using Health’s AI, analytics, and the Health Catalyst Ignite platform, which allows for data processing capabilities.
The Utah-based company said that thanks to Lumeon’s presence in the UK, it will also be able to expand and pursue opportunities in the region.
“We are excited to welcome the Lumeon team and work alongside them in support of our shared mission – to enable massive, measurable, data-informed healthcare improvement. Effective care management is an essential part of a patient’s clinical care journey, and the addition of Lumeon’s Care Orchestration to Health Catalyst’s existing technology and services offering will further enhance the analytics insights made available to providers seeking to transform clinical care,” Dan Burton, Health Catalyst CEO, said in a statement.
THE LARGER TREND
In June, Health Catalyst acquired oncology-focused healthcare technology company Carevive Systems, which offers providers a platform and data aimed at improving treatment planning, care coordination, clinical trial screening, post-treatment care and remote patient monitoring.
This week, the data and analytics company announced an expanded partnership with nonprofit Contexture, a regional health information exchange organization focused on improving health data interoperability.
The company said the expanded partnership would provide Contexture’s affiliate, Quality Health Network, with securely sharing patient data for its Colorado-based medical, behavioral and social health providers.
It also announced an expanded partnership with South Dakota Health Link, a service of the South Dakota Department of Health.
The expanded partnership, established in 2012, will allow the organization to utilize additional Health Catalyst applications for health information exchange within the state as well as in Minnesota, North Dakota, Wyoming, Nebraska and Iowa.
On Wednesday, the publicly-traded company reported its second quarter 2024 earnings, reporting a total revenue of $75.9 million compared to $73.2 million in the same period last year.
The company declared a net loss of $13.5 million in Q2 2024 compared to $32.6 million in the second quarter of last year. Adjusted EBITDA was $7.5 million in 2024’s second quarter compared to $3.5 million at the end of Q2 last year.
Health Catalyst also reported that it signed more net new platform subscription clients in the first half of 2024 than in all of 2023 and is on track to have the strongest year in the company’s history regarding net new subscription clients.
