Sentry Data Systems to buy Agilum, merge analytics platforms for healthcare financial data
The acquisition should help providers monitor financial performance, including service line costs and labor productivity, companies say.
Analytics firm Sentry Data Systems on Tuesday said it will buy Nashville-based Agilum Healthcare Intelligence, which focuses on similar financial analytics, for an undisclosed sum.
Sentry, a software as a service company, helps healthcare organizations manage costs and outcomes, it said. Agilum, meanwhile, helps health systems increase their transparency and access actionable financial information.
The acquisition is a part of Sentry's strategic plan to develop and expand its financial analytics through its proprietary platform -- which currently provides support to more than 76 million patients and more than 7,000 hospitals, clinics, integrated delivery networks and pharmacies.
Travis Leonardi, Sentry's CEO and founder, said in a statement that the company has helped healthcare organizations realize more than $4 billion in savings, adding that providing "the financial analytic and reporting solutions that meet our customers' business challenges remains central to our strategy."
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Sentry's DataNext platform provides analytics for pharmacy and supply chain departments. The acquisition is expected to enhance that platform, allowing customers a clear window to the financial performance of their business, including service line costs and labor productivity.
Mark McCurry, Agilum's CEO, said that value-based purchasing and other cost pressures put companies' margins at risk and touted the combined company's ability to help manage through that challenge.
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