Olive, an AI-enabled workflow automation software for hospitals, acquired Empiric Health, an AI-powered clinical analytics platform designed to reduce clinical variation.
The financial terms of the deal were not disclosed.
“It is exciting to see the evolution of Empiric Health’s clinical analytics platform since originating from an Intermountain Healthcare program in 2012,” said Rick Adam, CEO of Empiric Health. “Today, the AI-powered solution is changing physician behavior and improving surgical results across the country.”
Olive said: Empiric Health fits in because its AI scans and captures thousands of data points, essentially making Olive smarter by expanding her knowledge base. Combined, both organizations will continue to further Olive’s mission of unleashing a trillion dollars by connecting healthcare.
Hospitals and health systems are increasingly adopting complex data mining automation into insights to support the entire healthcare ecosystem – from front-line physicians to administrative staff.
“Expanding Olive’s presence into the operating room means working alongside humans to catalog data and then learning from successful surgeries to predict the best pathways of care,” said Sean Lane, CEO of Olive. “Through her growing network of healthcare intelligence, Olive is always learning. Expanding her knowledge base with Empiric Health’s clinical analysis is a natural next step toward becoming an even more powerful data engine that improves healthcare.”
It is Olive’s second acquisition in five months. The company acquired Verata Health, an AI-powered prior authorization software, in December 2020. Olive has raised $385 million over the last nine months and $448 million since its founding in 2012.
A total of 62 digital health companies were acquired in Q1 2020, compared to 52 in Q4 2020, according to Mercom’s Q1 2020 Digital Health Funding and M&A Report. Learn more about M&A activity in the digital health sector.