Advocate Aurora Enterprises acquires MobileHelp and Clear Arch Health

Advocate Aurora Enterprises acquires MobileHelp and Clear Arch Health

Facebook
Twitter
LinkedIn

[ad_1]

MobileHelp is a personal safety and medical monitoring system that uses GPS tracking to pinpoint a patient’s location so first responders can find them faster. The company says the device can also detect falls and is used in more than 300,000 homes.

The MobileHelp acquisition also gives Advocate Aurora Enterprises access to MobileHelp’s sister company, Clear Arch Health, which it spun off into a separate entity. Clear Arch runs software that integrates with electronic health records, allowing doctors to create customized care plans for chronically ill patients and monitor them remotely.

Scott Powder, president of Advocate Aurora Enterprises, declined to disclose the terms of the deal, but said Advocate plans to retain all 280 employees at MobileHelp and Clear Arch and allow the Boca Raton, Fla.-based company to continue operating under its own brand. Founded in 2006, MobileHelp was acquired by Boston-based private equity firm Abry Partners in 2017. But with today’s deal, Powder said Advocate now owns 100% of MobileHelp and Clear Arch.

Advocate Aurora Enterprises also acquired Senior Helpers, a Towson, Maryland-based home care and wellness company, last year.

Download the Modern Healthcare app to stay informed as industry news emerges.

“We strongly believe that by helping to form companies that provide services and technology to help seniors age safely and comfortably in their own homes for as long as possible, we can essentially become the national leader in independent aging,” Powder said.

In addition to premium services, Advocate has investments in other wellness companies, such as San Francisco-based Foodsmart. The company offers nutrition counseling and other digital services designed to make it easier for people to eat well on a budget.

Advocate Aurora Enterprises’ transaction today reflects the growing demand from patients and their physicians for software-based tools to manage their condition or provide care.

MobileHelp CEO Rob Flippo said that throughout the pandemic, more seniors and their families are turning to devices like MobileHelp as health officials urge people to stay home.

Demand for Clear Arch has increased as doctors look for ways to deliver care remotely, rather than sending patients to facilities that could put them at risk of contracting COVID-19.

Although they declined to give specifics, the demand translated into an increase in the company’s revenue.

Other large health systems have also launched investment arms as they seek to diversify their growth strategies.OSF HealthCare in Peoria is closest to $100 million fund raised Through its innovation arm, OSF Ventures. With this third fund, the Peoria-based fund has total assets under management of $250 million. To date, OSF has invested in nearly 30 companies.

This story first appeared in our sister publication, Crane’s Chicago business.

[ad_2]

Source link

More to explorer