Arcadia
® (
arcadia.io), a leading data platform for
healthcare, announced today the acquisition of CareJourney
®,
a preeminent provider of clinically relevant healthcare data and
AI-powered analytics and insights. This strategic acquisition
blends Arcadia’s next-generation healthcare data platform,
proprietary analytics, and workflow tools with CareJourney’s cost,
quality, and benchmark data. CareJourney derives market-leading
analytics from Medicare, Medicaid, Medicare Advantage, and
Commercial claims data across more than 300 million beneficiaries
and over 2 million providers nationwide. Payers, providers, and
employers can use these actionable insights to accelerate growth
and improve performance.
With the integration of CareJourney, Arcadia will help
healthcare organizations succeed in two ways. First, delivering an
expanded breadth of data to fuel advanced analytics that help
organizations shape their strategies and focus on what matters —
like navigating alternative payment models, market expansion, and
new partnership models. Second, a fast, scalable, and interoperable
platform with the operational tools required to act and execute
opportunities to improve patient and financial outcomes.
Collectively, the organizations further enable healthcare
customers to put data to work at the speed, scale, and
sophistication required to grow high-performing networks,
accelerate digital transformation, and succeed in value-based
care.
“The transaction marks the beginning of a new chapter of growth
for our business, with plans to improve healthcare outcomes through
data-driven insights and AI-driven tools and expand further our
provider, payer, and government sectors,” said Michael
Meucci, President and CEO of Arcadia. “Arcadia committed to
using $125 million in financing from Vista Credit Partners
to accelerate platform innovation, company growth, and leadership
in healthcare data analytics. We did exactly that by launching a
next-generation data platform for healthcare, expanding our
ecosystem of solutions and partners to drive innovation, and
now acquiring CareJourney, a leader in helping healthcare
organizations thrive through actionable analytics and
insights.”
The acquisition enhances Arcadia’s ability to provide
comprehensive, data-driven solutions with nimbleness and
responsiveness, ensuring that customers can shape their strategies
effectively. For Arcadia customers, the acquisition will provide
access to additional data sources for enhanced benchmarking,
network performance modeling, and evaluating growth strategies. For
CareJourney customers, the integration will offer a robust
healthcare data platform with enhanced speed, reliability, and
scalability, as well as workflow tooling to connect insights to
action.
"As our health system matures our approach to value-based care,
I'm delighted to see two of our most trusted data platform partners
coming together,” said Dr. Omar Lateef, President and CEO of Rush
University System for Health and Rush University Medical Center.
“We will benefit from their collaborative approach to understand
how to grow responsibly and execute more precisely."
Arcadia is trusted by the nation’s leading healthcare brands,
including Southwestern Health Resources, Tandigm, Castell, Rush
Health, and Beth Israel Lahey Health.
“Achieving near-universal accountable care by 2030 requires
actionable insights at every critical moment in care delivery,”
said Aneesh Chopra, President of CareJourney and former U.S. Chief
Technology Officer. “By merging CareJourney’s advanced data science
with Arcadia’s data engineering and operational tools, we will
equip providers and payers with the tools to manage costs, build
high-performing networks, and excel in value-based care.”
The deal combines two profitable growth companies to deliver on
Arcadia’s vision to build an interoperable data platform that
accelerates and sustains healthcare transformation. With the
acquisition, Arcadia’s portfolio of provider, payer, government,
and life science customers totals nearly 200.
“Arcadia and CareJourney have collaborated for years as business
partners—including serving many mutual customers who trust us to
deliver outstanding solutions," said Dan Ross, co-founder and CEO
of CareJourney. “By coming together, we’re creating a powerful
combination and a gold standard to drive significant advancements
in healthcare data analytics, value-based care, and overall
healthcare system efficiency.”
Moving forward, CareJourney will become CareJourney by Arcadia.
As part of the acquisition, Arcadia welcomes CareJourney’s
employees, and appoints Aneesh Chopra as Chief Strategy Officer of
Arcadia, Dan Ross as President of CareJourney by Arcadia, and Kevin
Sheldon as Chief Operating Officer of CareJourney by Arcadia. The
combined expertise from a team of health tech innovators will
create additional value and benefits, foster innovation, and
enhance the customer experience.
Have questions or want to learn more about our acquisition?
Connect with us for more information.
About Arcadia
Arcadia helps payers and providers put their data to work so
they can transform healthcare. We do that through an interoperable
data platform that uses advanced analytics to shape strategies,
inform decisions, and facilitate actions. In turn, payers and
providers can focus on what matters most — whether that’s patient
outcomes, operational efficiencies, or financial performance. We’re
trusted by the institutions driving the future of healthcare,
including Southwestern Health Resources, Tandigm, Castell, Rush
Health, and Beth Israel Lahey Health. To learn how Arcadia is
shaping the future of healthcare with innovative solutions that
deliver data-driven insights, visit arcadia.io.
About CareJourney
Customers trust CareJourney as a leading source of provider cost
and quality data that covers 300+ episodes of care across 50+
specialties and subspecialties. CareJourney’s mission is to empower
individuals and organizations they trust with open, clinically
relevant analytics and insights in the pursuit of the optimal
healthcare journey. CareJourney’s cloud-based analytics platform
helps health care organizations build and grow networks, improve
provider performance, identify network integrity and strengthen
referrals, and better manage at-risk populations.
Drew Schaar
Arcadia
drew.schaar@arcadia.io