AI and software company Commure has acquired Memora Health, a digital care navigation platform launched out of the Harvard Innovation Labs.
Commure continues to build out its technology stack to service healthcare organizations with AI -powered solutions for patient engagement, clinical documentation, revenue cycle management and real-time locating systems. Most recently, it inked deals for its ambient scribe at Tenet Healthcare and HCA Healthcare.
In addition to HCA Healthcare, Commure is backed by General Catalyst and Sequoia Capital.
Since 2017, Memora Health has built a digital patient navigation platform that provides two-way communication to support patients through their care journey and to connect them with the right team members to answer their questions. Memora has been backed by Andreessen Horowitz, General Catalyst and Transformation Capital.
Commure did not disclose the financial details of the transaction.
“The acquisition of Memora Health is a significant step forward in our mission to simplify provider, patient, and administrator workflows,” said Tanay Tandon, CEO of Commure, in a statement. “By combining Memora’s intelligent care navigation with Commure’s existing solutions, we can deliver a seamless experience for providers and care teams, and enhance patient support throughout their healthcare journey.”
Memora had raised $79.8 million since it launched in 2017, according to PitchBook data. It raised its last round in April 2023.
“Amidst all of those (digital health tools), there’s really no good infrastructure in most healthcare organizations to actually implement them, or to navigate the entirety of the journey for that patient, and then to empower their care teams to be able to actually monitor how they’re performing and support them,” Manav Sevak, co-founder and CEO of Memora, told Fierce Healthcare in 2022.
Memora Health set out to provide that infrastructure.
The San Francisco-based company spun out of the Harvard Innovation Labs and went through the famed startup accelerator Y Combinator in 2018, emerging as a text-based virtual assistant to help care teams manage patient discharges and follow-ups.
Sevak and his two co-founders landed a spot on Forbes’ 30 Under 30 list of 2022 for their solution, which Sevak said stands out in the market for its ability to adapt to any specialty, whether that’s oncology or maternity care, and to target challenges specific to each of its partners.
The startup has partnered with over 50 healthcare organizations, including the Mayo Clinic, Penn Medicine and Edward Elmhurst Health, which pay a monthly subscription fee for the software.
“We are thrilled to join forces with Commure to accelerate our mission of simplifying patient journeys,” Kunaal Naik, chief technology officer and co-founder of Memora Health, said in a statement. “Our technology and unique approach to care navigation have been validated by leading health systems, health plans, and digital health companies. As part of the Commure platform, we can continue to scale the next-generation patient experience to millions who need support throughout their care journey.”
In an interview in November, Deepika Bodapati, chief operating officer of Commure, estimated that 80% of Commure customers use more than one of their products. Using a continuous system to carry forward patient data through revenue cycle management is key to improving operations and having an AI scribe make an impact on the organization, she said.
Bodapati said the company’s recent acquisition of AI scribe company Augmedix has expanded the company’s customer base and set the stage for future partnerships.
In a blog post, Tandon said the deal would create “one of the largest, most comprehensive, and fastest-growing artificial intelligence software suites in healthcare.”
The companies together are on track to power over 3 million physician appointments using artificial intelligence, ambient scribing and revenue cycle automation this year, Tandon said.
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