Transactions
May 12 2009
HxTechnologies Acquired By MEDecision
Company Description
HxTechnologies, Inc., based in Philadelphia, is a health information exchange (HIE) company that specializes in enabling the seamless and secure flow of clinical data among healthcare stakeholders. The Company works with healthcare providers and payers to provide real-time, web-based access to a patient’s full set of diagnostic images and reports typically scattered out of reach across multiple healthcare facilities. This capability enables improvements in quality, access, diagnostic accuracy and cost control which together comprise the next-generation management of diagnostic imaging services.
Objectives
HxTechnologies’ executive management team and board of directors retained TripleTree as its advisor to evaluate various strategic alternatives, including a possible sale or recapitalization of the Company. The primary objectives in the engagement were to maximize the value for Hx Technologies’ investors while assisting the Company in finding a strategic acquirer that could leverage the Company’s industry leading technology as part of a broader offering.
Results
TripleTree and HxTechnologies’ management team worked with MEDecision to identify key synergies between the two companies, looking at how the Company’s technology could help propel MEDecision’s Alineo and Nexalign products to more effectively serve health providers and payers. Adding HxTI’s capabilities further extends MEDecision’s ability to generate and deliver real-time actionable information needed to provide meaningful and interoperable electronic health records (EHRs), which President Obama has challenged the industry to create for all Americans within five years. The president included $19 billion for this purpose in the American Recovery and Reinvestment Act.
LEAD INVESTMENT BANKERS
Jason Grais
Company Description
HxTechnologies, Inc., based in Philadelphia, is a health information exchange (HIE) company that specializes in enabling the seamless and secure flow of clinical data among healthcare stakeholders. The Company works with healthcare providers and payers to provide real-time, web-based access to a patient’s full set of diagnostic images and reports typically scattered out of reach across multiple healthcare facilities. This capability enables improvements in quality, access, diagnostic accuracy and cost control which together comprise the next-generation management of diagnostic imaging services.
Objectives
HxTechnologies’ executive management team and board of directors retained TripleTree as its advisor to evaluate various strategic alternatives, including a possible sale or recapitalization of the Company. The primary objectives in the engagement were to maximize the value for Hx Technologies’ investors while assisting the Company in finding a strategic acquirer that could leverage the Company’s industry leading technology as part of a broader offering.
Results
TripleTree and HxTechnologies’ management team worked with MEDecision to identify key synergies between the two companies, looking at how the Company’s technology could help propel MEDecision’s Alineo and Nexalign products to more effectively serve health providers and payers. Adding HxTI’s capabilities further extends MEDecision’s ability to generate and deliver real-time actionable information needed to provide meaningful and interoperable electronic health records (EHRs), which President Obama has challenged the industry to create for all Americans within five years. The president included $19 billion for this purpose in the American Recovery and Reinvestment Act.
LEAD INVESTMENT BANKERS
Jason Grais
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