Portico Systems Inc., a Blue Bell, Pa.-based provider of software solutions for health insurance plans, has acquired Ethidium Health Systems, a provider of clinical quality and collaboration tools. No financial terms were disclosed. Portico has raised around $13.7 million in VC funding from Edison Venture Fund and Safeguard Scientifics.
Portico Systems announced today that it has acquired Ethidium Health Systems, and will incorporate Ethidium’s clinical quality and collaboration tools into its Integrated Provider Management (IPM) platform.
The deal positions Portico at the forefront of emerging medical home and pay-for-performance initiatives by enabling health plans, IPAs, and other organizations to more closely collaborate with physicians and patients to reduce costs and deliver high quality healthcare.
“The acquisition of Ethidium significantly expands Portico’s industry leading Integrated Provider Management platform,” said Ned Moore, CEO of Portico Systems. “Ethidium’s real-time clinical information management and exchange technology coupled with Portico’s IPM platform provide all the necessary tools to implement sophisticated medical home and pay-for-performance models.”
The Medical Home is an emerging care delivery model that is designed to improve care by strengthening collaboration between physicians, patients, and health plans. A research report in the Annals of Family Medicine estimated that if every person in the nation had a medical home, it would generate savings of $67 billion annually. “To deliver on the promise of this approach to care delivery, new health information exchange and care coordination tools will be required.” stated Minalkumar Patel MD MPH, CEO, Care Management International Inc.
“With Ethidium’s technology, Portico will make available the industry’s first and only end-to-end provider management platform that integrates and streamlines network, clinical, and administrative processes.” said Matias Klein, Ethidium’s president, who will join Portico Systems as vice president and general manager of the clinical quality and collaboration product group. “Portico’s fully integrated and network-oriented approach will allow intelligent coordination of care as well as analysis of provider performance, relationship cost, and member access. Collaboration enabled by these solutions will deliver significant savings, improved quality of care delivery, and better choices for patients.”
About Portico Systems
Portico Systems’ innovative solutions enable health plans to reduce administrative, medical and IT costs. Portico’s exclusive focus on provider operations and 500+ staff-years of provider experience has allowed Portico to design the only modular end-to-end provider platform. Portico invites you to explore our website (www.porticosys.com) to learn how our commitment to customer service, quality and technology innovation can accelerate the evolution of your health plan’s provider operations. Portico Systems is a partner company of Safeguard Scientifics, Inc. (NYSE: SFE) www.safeguard.com.