Jason Krantz, CEO of Definitive Healthcare, said the deal will offer an "incredibly powerful solution" for the company's clients.
Definitive Healthcare, a Framingham, Massachusetts–based healthcare data company, announced Monday morning that it purchased PatientFinder, a Miami-based medical device company.
The deal aims to allow Definitive to oversee end-to-end healthcare data services for its clients, the company said in a press release.
Jason Krantz, CEO of Definitive Healthcare, told HealthLeaders that the deal will offer an "incredibly powerful solution" for the company's clients. Krantz said the PatientFinder acquisition will bolster Definitive's operations in its biotech, pharmaceuticals, and medical device segments.
"By identifying patient [cohorts], this allows our clients to find out which physicians and healthcare providers are providing care to these patients and how our clients can help them provide better care by either finding undiagnosed patients or patients that are getting a standard of care that is not keeping up with all of the new technologies that are happening in the marketplace," Krantz said.
He added that talks began in September and closed in mid-December, with both Definitive and PatientFinder management teams viewing the deal as a benefit to the missions of both organizations.
Dave Thornton, CEO and Founder of PatientFinder, said the company is excited to join Definitive, calling it a "win-win" for clients and a "game-changer" for the healthcare data analytics market.
The deal comes about one year after Definitive bought HIMSS Analytics' vendor data services business. The deal included Logic, Predict, Analyze, and additional custom research products.
The PatientFinder purchase now brings Definitive's workforce total up to 400 employees, the company said in a press release.
Jack O'Brien is the finance editor at HealthLeaders, a Simplify Compliance brand.