Cricket Health Secures $83.5 Million for Kidney Care Platform

RLDatix, a developer of patient safety technologies, acquired Verge Health, a healthcare credentialing software provider for proactive risk management.

The acquisition enables RLDatix to offer provider credentialing tools and expand its strategic advisory services around safety and compliance.

Medical errors remain the third leading cause of death in the U.S., and the World Health Organization estimates that adverse events due to unsafe care rank as one of the top 10 causes of death and disability worldwide. These adverse yet preventable events are incredibly costly and account for an estimated 15% of all hospital expenditures across OECD countries.

Founded in 2001, Verge Health developed the Converge Platform – the Governance, Risk, and Compliance platform purpose-built for healthcare (GRCH) – giving administrators and executives enterprise-wide visibility to potential risks. According to the company, the platform works with half a million users in more than 900 healthcare organizations and payers, helping them protect their patients and the bottom line.

“Healthcare’s traditionally siloed approach to risk management, patient safety, provider management, and compliance has limited the ability for organizations to mitigate avoidable harm,” said Jeff Surges, CEO of RLDatix. “With Verge Health, we are unifying at an enterprise level all of the tools necessary to recognize flawed practices and prevent adverse events. This acquisition represents an enormous acceleration of Applied Safety Intelligence and solidifies our position as the global leader in patient safety software at a time when accreditation organizations like The Joint Commission are expected to take more active steps to reduce adverse events.”

Financial details of the acquisition were not disclosed. Triple Tree Advisors advised Verge Health.

A total of 132 Digital Health companies were acquired in the first nine months of 2020, according to Mercom’s latest Digital Health Funding and M&A report.

Learn more about digital health M&A activity.