WellSky® to Acquire Healthify to Enhance Social Services Care Coordination Across the Continuum
WellSky, a health and community care technology company, announced today that it has entered into a definitive agreement to acquire Healthify, a company that improves the health of communities by connecting healthcare organizations with social service organizations to address the social determinants of health (SDoH).
Seamless coordination between providers, community-based organizations, and payers is the key to delivering value-based care at scale. Together, WellSky and Healthify will connect providers across and within communities to identify social needs, search for social services, and coordinate care with an accountable network of community partners to improve outcomes and remove social barriers to health and wellness.
"With the addition of Healthify, WellSky adds yet another crucial capability to our expansive portfolio and further strengthens our position as the leading technology partner connecting care across acute, post-acute, and community organizations," said Bill Miller (News - Alert), CEO of WellSky. "We have a longstanding commitment to investing in care coordination and whole-person care. By leveraging Healthify's networks of community-based organizations and its interoperable closed-loop referral platform, payers and providers can effectively coordinate care to close gaps, improve outcomes, and promote health equity."
Approximately 300 Area Agencies on Aging (AAAs), 250 Continuums of Care (CoCs), and 100 I&R/A providers (2-1-1s, ADRCs, and other information and referral contact centers) leverage WellSky solutions and services each day. WellSky's deep experience in social services complements Healthify's technoloy, network building, and payer relationships. The companies will integrate Healthify's cutting-edge SDoH referral platform and community networks with WellSky's robust human and social services network to power improved outcomes for people and improve their quality of life while lowering the overall cost of care.
"Our mission at Healthify is to build a world in which no one's health is hindered by their socioeconomic needs, and with WellSky, I saw a similar dedication to improving health outcomes," said Manik Bhat, co-founder and CEO of Healthify. "Together, we create a unique and powerful combination by offering one of the largest social services networks in the country; a market-defining solution set that brings healthcare and community services together; robust ROI analysis with additional clinical data; and the ability to scale social service reimbursement across the nation as we address long-term recovery from the pandemic."
Healthify clients will gain access to additional social services in their networks, access to provider systems, and the ability to deploy additional technology to solve for needs in the community. With the addition of Healthify, WellSky's clients will be able to receive referrals and work with states, payers, and health systems without the burden of changing workflows or software systems.
The transaction is subject to customary closing conditions and is expected to close in the third quarter of 2021. First Analysis Securities Corporation served as the exclusive financial advisor to Healthify in the transaction.
WellSky is a technology company leading the movement for intelligent, coordinated care. Our next-generation software, analytics, and services power better outcomes and lower costs for stakeholders across the health and community care continuum. In today's value-based care environment, WellSky helps providers, payers, health systems, and community organizations solve tough challenges, improve collaboration for growth, harness the power of data analytics, and achieve better outcomes by further connecting clinical and social care. WellSky serves more than 20,000 client sites - including the largest hospital systems, blood banks, cell therapy labs, blood centers, home health and hospice franchises, post-acute providers, government agencies, and human services organizations. Informed by more than 40 years of providing software and expertise, WellSky anticipates clients' needs and innovates relentlessly to ultimately help more people thrive. For more information, visit wellsky.com.
Powered by a mission to build a world where no one's health is hindered by their need, Healthify builds the infrastructure to support social determinants of health (SDoH) initiatives at scale. The company builds and manages accountable networks of community-based organizations and provides the necessary interoperable technology platform to allow the healthcare sector to coordinate care within the network. Healthify works with health plans, providers, and community partners in all fifty states and is dedicated to community partner sustainability and demonstrating ROI for social service interventions to ensure that families receive the services they need to thrive. For more information, please visit healthify.us or connect with us on LinkedIn (News - Alert) or Twitter.
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