RLDatix, which is backed by Five Arrows and TA Associates, has acquired Verge Health, a credentialing software provider. No financial terms were disclosed.
CHICAGO – October 21, 2020 – RLDatix, the leading global provider of intelligent patient safety solutions, announced today that it has acquired Verge Health, the recognized best-in-class credentialing software provider. This acquisition joins two leaders in the Governance, Risk, and Compliance (“GRC”) healthcare software market and will dramatically accelerate an essential shift from a reactive approach to risk management to one rooted in safety and prevention.
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 around the world. These adverse, yet preventable, events are incredibly costly and account for an estimated 15 percent of all hospital expenditures across OECD countries.
“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.”
RLDatix is the only provider that partners with healthcare delivery organizations globally to provide a comprehensive view of enterprise risk through a safety-first lens. With this acquisition, RLDatix unifies the four key pillars of GRC under one roof: Safety, Compliance, Provider Management, and Strategic Advisory Services. By elevating conversations about compliance, credentialing, safety, and risk to the enterprise level, RLDatix helps leaders make the systemic changes necessary to achieve true harm reduction in a way that will transform the delivery of care.
“At Verge Health, improving the safety of patients and caregivers has always been central to our mission,” said Connie Moser, CEO of Verge Health. “Our Converge platform was the first to unite safety and compliance with provider management, and our recent launch of Insights, our analytics solution, represents another milestone in the journey to ‘zero harm.’ Now Verge is taking the next step to advance safety-led risk management by joining with the global leader in patient safety, and we are thrilled to be continuing our work as part of RLDatix.”
The Verge Health acquisition comes at a moment when the COVID-19 pandemic has placed the safety of healthcare facilities, front line staff, and patients even further at the forefront of the national health care conversation. With the added provider management, compliance, and analytics solutions of Verge, RLDatix offers healthcare delivery and insurance companies a clear path forward to strengthen trust, capture revenues and to prevent the occurrence of adverse safety events.
“We’re excited to adopt RLDatix’s Applied Safety Intelligence framework and bring together several of our disparate processes,” said Sherri Hess, Chief Nursing Informatics Officer of Banner Health. “The opportunity to have two key vendors join forces so that our safety and provider data, CANDOR training, and oneSOURCE documentation can be united to drive our high reliability efforts is paramount in ensuring we continue to drive safe, efficient healthcare.”
For more information on the RLDatix acquisition of Verge Health, visit https://www.rldatix.com/vergehealth.
Verge Health was advised by Triple Tree Advisors.
RLDatix is on a mission to change healthcare. We help organizations drive safer, more efficient care by providing governance, risk and compliance tools that drive overall improvement and safety. Our suite of cloud-based software helps organizations report on adverse events, reduce healthcare-acquired infections and ensure patient safety learnings are implemented across the continuum of care. With over 3,500 customers in 19 countries, RLDatix software protects hundreds of millions of patients around the world. RLDatix is primarily backed by Five Arrows and TA Associates. For more information, visit www.rldatix.com.
About Verge Health
Since 2001, Verge Health has united safety and compliance with provider management to empower healthcare organizations to proactively protect and defend patients, caregivers, and facilities against errors, adverse events, and policy violations. We believe patients should be able to trust the doctors and staff responsible for their care, and that every healthcare organization should have the ability to derive the insights from their data necessary to provide high-quality service. That’s why we developed the Converge Platform — the only Governance, Risk, and Compliance platform purpose-built for healthcare (GRCH) — giving administrators and executives enterprise-wide visibility to potential risks. Only Verge combines this integrated platform with 360-degree analytics and Strategic Advisory Services to help clients establish a culture that prioritizes “zero harm.” Headquartered in Charleston, SC, Verge works with half a million users in more than 900 healthcare organizations and payers across the country, helping them protect their patients and bottom line. For more information, visit us at www.vergehealth.com and follow us at @vergehealth.