Tuesday January 14, 2020 0 comments
LOUISVILLE -- Global Healthcare Exchange (GHX) announced it acquired Chicago-based Lumere, a leading provider of evidence-based data and analytics solutions that enable healthcare organizations to build clinically integrated supply chains and optimize medication formulary management.
GHX said the Lumere acquisition expands GHX’s growing portfolio of innovative solutions that help healthcare organizations run the new business of healthcare -- one where payments for care delivery are increasingly tied to quality of care and efficiency.
By combining the powerful assets of GHX and Lumere, GHX said it seeks to create the gold standard in data governance, providing a single source of trusted information for the management of devices and drugs used in the delivery of care.
The Lumere acquisition also significantly extends GHX’s footprint in the pharmaceutical market, helping health systems more strategically manage the complex area of pharmacy cost, the company said.
Lumere has emerged as the industry leading source of technology solutions that drive evidence-based device and drug utilization and purchasing decisions, GHX said.
Spending on medical products and drugs represents one of the fastest-growing expenses for U.S. health systems. The combination of Lumere's capabilities with GHX's unmatched network of providers and suppliers will enable the industry standard for device and drug intelligence needed to optimize patient value, GHX said.
“With health systems more accountable than ever for the results they deliver, the strategic imperatives of reducing cost and improving quality of care are more critical than ever,” said Bruce Johnson, GHX CEO and president.
“We’ll continue to support our customers in their evolution from reimbursement based on quantity to reimbursement based on quality. We will do this by combining the strength of the GHX platform and the industry’s most comprehensive repository of item and transaction data, with Lumere’s deep clinical data and machine learning powered analytics to deliver the critical evidence-based insights healthcare needs.
“Like GHX, Lumere is a company focused on innovation and customer-centricity, and we couldn’t be more delighted to welcome them into our organization.”
“Together, GHX and Lumere will provide an unmatched source of information that enables health systems to align purchasing and utilization decisions with evidence,” said Hani Elias, Lumere CEO.
“Our combined companies will help healthcare stakeholders deliver care that’s backed by data and guided by evidence, allowing drug and device expenditures to be supported not just by price but by clinical outcomes.
“Shining a light on outcomes will provide clinicians and hospital administrators with the information they need to help make the best decisions for every patient. I’m incredibly excited about the significant change our two companies can advance for healthcare.”
Financial terms of the deal were not disclosed.
Key Lumere leaders, including CEO Elias, CTO Will Danford and president/chief strategy officer Eric Meizlish will remain with the combined organization.
Cain Brothers served as exclusive financial advisor to Lumere and Katten Muchin Rosenman LLP served as legal counsel to Lumere. Cleary Gottlieb Steen & Hamilton LLP served as legal counsel to GHX.