ContextMedia to Buy Patient-Education Peer AccentHealth for Cashby
ContextMedia, a provider of health education to patients, is acquiring AccentHealth in an all-cash deal.
Terms weren’t disclosed in a statement Wednesday. The transaction is expected to close by the end of the year, the statement shows.
“We have already proven that embedding this information into the patients’ decision-making process improves the quality of the health outcome,” Rishi Shah, chief executive officer and founder of ContextMedia, said in an interview. “What this deal gives us is a way to rapidly expand the number of physician practices we can get our information into.”
Founded in 2006, Chicago-based ContextMedia has been more than doubling its scale each year, the statement shows.
Shah said that while the company’s been aiming to be in 70 percent of U.S. physician practices by 2020, “the Accent deal moves us forward by between 1 and 2 years.”
Founded in 1995, AccentHealth is based in New York and Tampa, Florida, and is owned by M/C Partners, Ridgemont Equity Partners and senior management.
ContextMedia’s technology is used by outpatient health-care facilities and global life-sciences and medical-device companies, according to the statement. Products include digital anatomy boards, interactive educational tablets and mobile connectivity in consultation rooms.
JPMorgan Chase & Co. acted as financial adviser to ContextMedia, while Moelis & Co. advised AccentHealth.