Athenahealth acquires second company from accelerator program
Aug 29, 2016
Patient IO helps patients track and manage their care. Courtesy/Patient IO website
Watertown health IT company athenahealth said Monday that it has acquired a second company from its accelerator program, with the acquisition of Austin-based patient coordination company Filament Labs Inc.
Financial terms of the deal were not disclosed. Patient IO helps patients track and manage their care. Courtesy/Patient IO website
Filament Labs Inc., a Techstars Austin company that does business as Patient IO, is a mobile and web app that makes patient care an easy-to-follow to-do list, whether helping educate a patient on his or her condition, helping patients manage the medications he or she has to take, or tracking self-reported data. The app will be added to athenahealth’s (Nasdaq: ATHN) population health tool, which helps physicians manage patients on a budgeted basis. All 12 Patient IO employees will join athenahealth. “Care coordination and patient self-management is the next big ground on which healthcare will compete,” said Jon Porter , Senior Vice President of Emerging Services of athenahealth, in a release. “Patient IO accelerates our movement towards an exciting strategic milestone: becoming a trusted resource and partner to the patient.”
Athenahealth was familiar with the company, having led a $3.3 million funding round for Patient IO in October through its accelerator program More Disruption Please. Prior to that round, Patient IO raised $1.5 million. The athenahealth investment helped advertise Patient IO to athenahealth clients, but the acquisition will now bring the technology more directly into the athenahealth product portfolio. The acquisition is the second athenahealth has made from its More Disruption Please program, which currently boasts over 100 companies. Athenahealth acquired Arsenal Health, a smart scheduling platform, in April 2016. Patient IO will join athenahealth’s Austin offices, with CEO Jason Bornhorst , and the company’s chief technology and chief product officers serving as executive directors of product strategy. “By taking a patient-centered approach to development and embracing the potential of mobile, together we can reach more healthcare organizations than ever before,” said Jason Bornhorst , co-founder and CEO of Patient IO, who is also a Forbes 30 Under 30 in Healthcare winner. “Our combined offering will deliver actionable insights that help our customer organizations transition to a value-based care environment, improving outcomes and quality at every turn.”
In addition to being offered to athenahealth clients, Patient IO will still serve its existing roster of 30 clients, and will continue to sell to non-athenahealth clients under its current name. Athenahealth shares, priced at $122.23, were largely unchanged after news of the acquisition was released Monday morning. Jessica Bartlett covers health care, including hospitals, health IT, health policy and insurance, as well as the beer industry. Related Content