With Acquisition, ContextMedia Becomes Largest Healthcare Platform Reaching 55,000 Healthcare Locations
CHICAGO, IL — ContextMedia has announced that it will acquire AccentHealth in an all-cash deal. According to ContextMedia, the acquisition will position the company as the largest healthcare decision platform at the point of care in the United States, with a rapidly growing reach across clinics, hospitals and health systems. In 2016, ContextMedia added nearly one percent of all practices in the U.S. each month. The company believes it will have a presence in seventy percent of all practices in the U.S. by 2020.
With the acquisition of AccentHealth, ContextMedia will reach 55,000 healthcare locations, a scale that is unmatched in the industry. ContextMedia will bring its technologies into AccentHealth’s network of practices. ContextMedia offers a portfolio of interactive technologies that include large format tablets that offer physicians 3D anatomical and condition models as well as video-based patient engagement and assessment tools, the company continues to innovate and expand its portfolio.
The transaction is expected to close by the end of the year subject to customary closing conditions. J.P. Morgan Securities LLC acted as exclusive financial advisor and Kirkland & Ellis LLP acted as legal advisor to ContextMedia. JPMorgan Chase Bank, Goldman Sachs and Citizens First Bank will provide financing. Moelis & Company acted as exclusive financial advisor and Alston & Bird LLP acted as legal advisor to AccentHealth.
“ContextMedia has a vision to embed actionable information and intelligence into every critical healthcare decision,” said Rishi Shah, ContextMedia Chief Executive Officer and Founder. “Our healthcare decision technologies drive better health outcomes by empowering collaboration between consumers and their healthcare providers, transforming the communication of treatments and conditions, offering assessment technology for early detection and simplifying complex health information.”
Healthcare currently represents 17.5 percent of the United States’ GDP, and eighty percent of these costs are attributable to chronic condition treatments according to the CDC. According to ContextMedia, the company has an opportunity to affect positive economic and social outcomes by improving comprehension, conversion and compliance of chronic disease treatments and lifestyle choices.
In one recent study conducted by the Centers of Medicare and Medicaid Services, a medical group utilizing the ContextMedia decision platform saw up to 10 percent incremental cost savings per Medicare patient after incorporating ContextMedia’s technologies.
“We are pleased to have reached this agreement with ContextMedia,” commented Dan Stone, CEO of AccentHealth. “This deal will accelerate growth and innovation at the point of care to benefit the patients we serve. ContextMedia is respected in the industry for technology innovation at scale and we are deeply aligned on the mission to educate and empower people to live healthier lives.”
“This acquisition brings us closer to our vision of achieving ubiquity,” said Shah. “The expanded presence of our platform will accelerate our ability to drive positive health outcomes at scale.”
Free Trend Report: Why Location Is the New Currency of Marketing
Finding effective ways to deliver branded messages in today’s complex media environment is one of the biggest challenges facing advertisers. Traditional methods of advertising have become less effective as consumers spend less time in places where marketers have traditionally had an advantage in reaching them. In addition, consumer attention has fragmented across multiple channels as media options and device platforms increasingly diversify.
Active consumers spend money, and while they are going about their daily routine, they are also actively looking for information. According to Google, more than 50% of all mobile searches have local intent, and 17% of search happens while consumers are on the go.
Digital Out-of-Home (DOOH) advertising, also known as Digital Place-based (DPb) media, utilizes strategically placed, networked digital signage displays to reach on-the-go consumers while they are outside of their home with highly targeted messages. Location-based mobile and digital out-of-home media are part of a larger multiscreen ecosystem that effectively amplifies brand messages to create a deeper level of engagement with active consumers.
Why Location Is the New Currency of Marketing is aimed at CMOs, media buyers and strategists and provides insight into why marketers are increasingly shifting their advertising dollars to these rapidly emerging media platforms.
Highlights from Why Location Is the New Currency of Marketing include:
- The Connected Consumer
- Leveraging the Moment
- Multiscreen Campaign Planning
- Amplifying Reach With DOOH Media