It's the second blockbuster revenue cycle tech acquisition in as many weeks.
Healthcare financial tech company Cedar will acquire OODA Health for $425 million, the company reports.
It's the second blockbuster revenue cycle tech acquisition in as many weeks. In early May, R1 RCM Inc. announced plans to acquire digital payment solution provider VisitPay for approximately $300 million in cash.
Cedar says that with its $200M Series D funding, and OODA Health acquisition, it will focus on:
- Empowering consumers with more transparency
- Broadening its product roadmap to prioritize features that are powered by integrations with providers and payers
- Automation use cases that advance the consumer financial experience and healthcare affordability
OODA Health's platform connects payer workflows for nearly 20 organizations, such as Blue Cross Blue Shield of Arizona, CommonSpirit Health, and Blue Cross Blue Shield of Massachusetts.
Listen: HealthLeaders Revenue Cycle Podcast Episode #13: OODA Health
Cedar currently partners with more than 35 healthcare providers across the United States, including Yale New Haven Health, Summit Health, Novant Health and ChristianaCare.
Alexandra Wilson Pecci is an editor for HealthLeaders.
