The combined entity will focus on the ongoing transition of US healthcare from fee-for-service payments to value-based reimbursements
Healthcare information technology company Clinigence Holdings has entered into a merger agreement with publicly-held company iGambit in a stock-for-stock merger transaction.
iGambit is the owner of HealthDatix, a healthcare technology firm with a platform for optimising annual wellness visits / health risk assessments (AWV / HRA) and chronic care management (CCM). It also produces BioDatix wearable device for remote patient monitoring.
Clinigence offers an advanced cloud-based platform, which allows healthcare organisations to provide value-based care and population health management.
Its platform combines clinical and claims data across multiple settings information systems and sources to provide a better view of each patient and provider, as well as insights into patient populations.
iGambit. CEO John Salerno said: “Our two organisations complement each other and will allow us to advance our technology platform.”
Clinigence holdings is the new name of combined entity
The combined entity will operate under the name of Clinigence holdings, with a focus on the ongoing transition of US healthcare from fee-for-service payments to value-based reimbursements.
The firm’s major cloud-based platforms will enable clients to leverage data from multiple sources to operate efficiently, in addition to delivering better outcomes for their patients.
As per terms of the merger deal, iGambit will provide newly-issued shares of common stock to the equity holders of Clinigence via reverse triangular merger, under which a wholly owned subsidiary of iGambit will merge with Clinigence.
The former Clinigence equity holders will own 85% of iGambit’s issued and outstanding common stock, while the former iGambit equity holders will hold the remaining 15% stake in iGambit’s issued and outstanding common stock.
Clinigence Holdings current CEO and president Jacob Kobi Margolin will continue as CEO and president of the new combined entity, upon completion of the deal.
Subject to customary closing conditions, the deal is expected to be completed by the end of November this year.
Margolin said: “The merger will create a platform with a comprehensive suite of solutions for health plans, independent physician associations/medical groups, management services organizations, accountable care organisations, hospitals and individual physicians.”