MRO Announces Acquisition of Clinical Data Interoperability Company FIGmd
NORRISTOWN, Pa., June 14, 2021 /PRNewswire/ -- MRO, Corp. (MRO), a leading clinical data workflow platform and the KLAS-rated No. 1 provider of release of information (ROI) solutions, announced today the acquisition of Rockford, IL-based FIGmd, a leading provider of clinical, claims and quality data acquisition platforms and data interoperability solutions. The acquisition expands MRO's ability to efficiently acquire, ingest, manage and exchange clinical information across multiple sources and formats to deliver actionable insights. FIGmd founder Sanket Baralay and employees will join the MRO team at closing.
Founded in 2010, FIGmd provides cloud-based solutions that harness the power of machine learning and analytics to simplify data acquisition across multiple sources and formats to provide intelligent and actionable insights. FIGmd software interfaces with over 250 EMRs and cinical systems, supporting over 10,000 specific clinical data elements derived from over 150,000 providers. FIGmd also provides an advanced clinical data registry platform and complimentary services to more than 20 specialty medical societies across the United States and empowers doctors, medical practices, health systems and payers to unlock clinical data.
"We are thrilled to join forces with MRO, an industry leader known for outstanding customer success and unmatched expertise in secure clinical data exchange," said Mr. Baralay, FIGmd's CEO. "Our mission has been to simplify the clinical, quality and claims data acquisition process and deliver actionable intelligence to improve outcomes. As part of MRO, we have a tremendous opportunity to further that mission. We are very excited to join the MRO organization and their client-first and innovative culture."
"MRO's mission is to manage the complex process of ingesting, curating, and releasing clinical data and medical chart information on behalf of providers and third-party requesters. Requests for clinical information are increasing in both volume and complexity. FIGmd's solutions support this shift by streamlining health information extraction and exchange within our core clinical data release solutions and expand MRO's presence across the broader healthcare market," said Stephen Hynes, Chief Executive Officer of MRO. "I'm delighted to welcome Sanket and the FIGmd team to the MRO family and look forward to working together to drive results for our collective clients and the healthcare ecosystem."
MRO is supported by Parthenon Capital, a leading growth oriented private equity firm focused on building franchise companies in healthcare.
pHpartners, LLC, a boutique healthcare investment bank, served as financial advisor to FIGmd while Pillsbury and Reed Smith served as the company's legal advisors. Kirkland & Ellis LLP served as MRO's legal advisor.
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