Healthcare data platform company Arcadia has acquired CareJourney, a provider of healthcare data and AI-powered analytics to support organizations’ value-based care journeys.
The deal is designed to deliver on Boston-based Arcadia’s vision of building an interoperable data platform that accelerates and sustains healthcare transformation. With the acquisition, Arcadia’s portfolio of provider, payer, government, and life science customers totals nearly 200.
“The transaction marks the beginning of a new chapter of growth for our business, with plans to improve healthcare outcomes through data-driven insights and AI-driven tools and expand further our provider, payer, and government sectors,” said Michael Meucci, president and CEO of Arcadia, in a statement. “Arcadia committed to using $125 million in financing from Vista Credit Partners to accelerate platform innovation, company growth, and leadership in healthcare data analytics. We did exactly that by launching a next-generation data platform for healthcare, expanding our ecosystem of solutions and partners to drive innovation, and now acquiring CareJourney, a leader in helping healthcare organizations thrive through actionable analytics and insights.”
“Achieving near-universal accountable care by 2030 requires actionable insights at every critical moment in care delivery,” said Aneesh Chopra, president of CareJourney and former U.S. chief technology officer, in a statement. “By merging CareJourney’s advanced data science with Arcadia’s data engineering and operational tools, we will equip providers and payers with the tools to manage costs, build high-performing networks, and excel in value-based care.”
Going forward, CareJourney will become CareJourney by Arcadia and Chopra will become chief strategy officer of Arcadia.
Arcadia said the acquisition blends its healthcare data platform, proprietary analytics, and workflow tools with CareJourney’s cost, quality, and benchmark data. CareJourney derives analytics from Medicare, Medicaid, Medicare Advantage, and commercial claims data across more than 300 million beneficiaries and over 2 million providers nationwide. Payers, providers, and employers use these insights to accelerate growth and improve performance.
With the integration of CareJourney, Arcadia said it would help healthcare organizations succeed in two ways. First, delivering an expanded breadth of data to fuel advanced analytics that help organizations shape their strategies and focus on what matters — like navigating alternative payment models, market expansion, and new partnership models. Second, a fast, scalable, and interoperable platform with the operational tools required to act and execute opportunities to improve patient and financial outcomes.
Arcadia described the benefits of the acquisition this way: For Arcadia customers, the acquisition will provide access to additional data sources for enhanced benchmarking, network performance modeling, and evaluating growth strategies. For CareJourney customers, the integration will offer a robust healthcare data platform with enhanced speed, reliability, and scalability, as well as workflow tooling to connect insights to action.
Arcadia’s customers include Southwestern Health Resources, Tandigm, Castell, Rush Health, and Beth Israel Lahey Health.
"As our health system matures our approach to value-based care, I'm delighted to see two of our most trusted data platform partners coming together,” said Omar Lateef, D.O., president and CEO of Rush University System for Health and Rush University Medical Center, in a statement. “We will benefit from their collaborative approach to understand how to grow responsibly and execute more precisely."
