The Charlotte, N.C.-based Premier Inc. has acquired TheraDoc, a provider of surveillance software, for $117 million in cash, the company announced this week.
Premier is a revenue-earning, purchasing alliance with approximately 3,000 U.S. hospitals and 110,000 other providers. In recent years, the company has taken to acquisitions in an attempt to move beyond simple, advisory services. TheraDoc, a wholly-owned subsidiary of Hospira, will allow many Premier members as well as outside providers to monitor patients from infections, drug interactions, and other patient safety events. The software will integrate with Premier’s PremierConnect platform and be rolled out to 1,000 facilities.
“The addition of TheraDoc propels Premier to the top position in the clinical surveillance market, significantly strengthening our ability to help health systems monitor and protect patients from infections, harmful drug interactions and other adverse events, crucial capabilities in today’s world of performance-based reimbursement. Longer term, we expect the addition of TheraDoc will enable us to create a next-generation predictive safety solution built on Premier’s integrated technology platform,” Susan DeVore, president and CEO of Premier, said in a statement.
TheraDoc’s offices in Salt Lake City and its 120 employees will become part of Premier’s Performance Services business unit, reporting to Keith J. Figlioli, Premier’s senior vice president of Healthcare Informatics.
In 2013, Premier acquired both SymmedRx, an implantable device supply analytics vendor (for $29 million) and then data integration vendor, Meddius. It also had an initial public offering (IPO) that raised $760 million by offering 28.2 million shares (all primary) of its Class A common stock at $27 per share .