Healthgrades, which is backed by Vestar Capital Partners, has acquired Evariant, a healthcare consumer and physician engagement firm. No financial terms were disclosed.
Denver, Colo (Jan 7, 2020) – Healthgrades, the leading resource that connects consumers, physicians and health systems, today announced it has acquired Evariant, a leading healthcare consumer and physician engagement company. With the combination of these two market leaders and innovators, Healthgrades will offer the most comprehensive end-to-end engagement platform in the healthcare industry, enhancing the company’s value proposition for its combined base of 2,000+ hospitals and life sciences customers.
Healthgrades’ products and services enable physicians and health systems to optimize growth through smarter consumer acquisition, patient retention and physician network utilization strategies. The combined offering includes:
the most advanced healthcare customer relationship management (HCRM) solution; a leading physician relationship management (PRM) solution; an Engagement Center application that transforms call centers into profit centers; a web content management solution (CMS) supporting an integrated digital experience; a full-service healthcare marketing agency and strategic services arm focused on accelerating ROI; and the most comprehensive consumer website to help educate consumers and connect them with a physician.
This integrated technology platform will leverage more than 30 years of experience with predictive analytics and patient communications to engage consumers at every step of the patient journey, redefining their relationships with healthcare providers in the digital age.
Terms of the transaction were not disclosed. Evariant shareholders will retain a minority stake in the combined company and will have a representative on the Board of Directors. Healthgrades is a Vestar Capital Partners portfolio company.
“Following the successful integration of Influence Health, this acquisition further positions Healthgrades to lead the industry in improving connections between consumers and providers across multiple solutions and media channels,” said Rob Draughon, CEO, Healthgrades. “Since the beginning of 2019, Healthgrades has significantly expanded its product suite, added exciting new talent, and enhanced its ability to innovate, invest and grow. Our goal remains clear: to better inform consumers along their health journey, powered by data and insights, improving the overall care experience and ultimately driving improved health outcomes.”
“At Evariant, we have successfully partnered with health systems to achieve high-value service line growth, extend patient lifetime value and improve network utilization and planning,” said Clay Ritchey, CEO, Evariant. “We are excited to become a part of Healthgrades and look forward to the significant opportunities ahead as the scale of our combined companies will fuel expansion of our products, services and support resources to benefit our collective client base.”
“Healthgrades is a pioneer in healthcare information, and with the addition of Evariant, the company will become the most comprehensive healthcare communications platform in the industry,” said Norm Alpert, chairman of Healthgrades and co-president of Vestar. “Merging the best features of both companies creates an unrivaled solution set for health systems to engage with consumers, patients, providers and other constituencies on a new level.”
MTS Health Partners, L.P. acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor to Healthgrades. Piper Sandler served as financial advisor and Goodwin Procter LLP served as legal advisor to Evariant. Financing for the transaction was provided by CRG, L.P. and CIBC Bank USA.
Evariant, the healthcare consumer and physician engagement company, enables providers to optimize growth through smarter patient acquisition and retention. Our customers achieve indisputable value through high-value service line growth, improving provider network utilization and planning, and extending patient lifetime value. The Evariant Patients for Life Platform™ delivers actionable intelligence that enables healthcare providers to execute best next actions to find, guide and keep patients for life. For more information, visit evariant.com.
Healthgrades is dedicated to empowering stronger and more meaningful connections between patients and their healthcare providers. At Healthgrades, we help millions of consumers each month find and schedule appointments with their provider of choice. With our scheduling solutions and advanced analytics applications, we help our health system and life sciences clients cultivate new patient relationships, improve patient access, and build customer loyalty. For more information, visit: https://partners.healthgrades.com. At Healthgrades, better health gets a head start.
About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity firm specializing in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners to build long-term enterprise value, with a focus on Consumer, Healthcare, and Business Services. Since its founding in 1988, Vestar funds have invested $8 billion in more than 80 companies – as well as more than 200 add-on acquisitions – with a total value of approximately $50 billion. For more information on Vestar, please visit www.vestarcapital.com.