Global Healthcare Exchange announced today that it acquired Explorer Surgical, which will operate as its wholly-owned subsidiary.
Chicago-based Explorer Surgical creates digital procedure playbooks and performance tracking tools while offering telementoring. The company earlier this year announced its intentions to expand its cloud-based digital platform into the robotic surgery space.
GHX believes that, by combining Explorer’s digital tools with its cloud-based supply chain network and capabilities for the collection of data and clinical evidence, the organization will be able to offer a higher quality standard for patient care, according to a news release.
“To succeed in value-based healthcare, organizations must democratize knowledge and data to create more efficient processes and better outcomes,” GHX president & CEO Bruce Johnson said in the release. “Patient care decisions must be grounded in data, product expertise and procedural best practices because lives depend on it. Our combined organization will work to reduce unwarranted variation in healthcare and help the industry deliver on the promise of value-based care.”
Explorer Surgical co-founder & CEO Jennifer Fried will remain with the new organization, serving as GM of Explorer Surgical, a GHX company. CTO Eugene Fine will also remain with the company, which will maintain its operations in Chicago.
Financial terms for the transaction were not disclosed.
“Healthcare is rife with inefficiency and must standardize the operational and clinical best practices and products that yield the best possible patient outcomes,” Fried said. “With GHX, Explorer Surgical is well-positioned to provide tremendous value to the healthcare supplier industry and providers by integrating our technology to improve the delivery of care.
“Combining our companies accelerates our core mission of using technology and data to enable all healthcare stakeholders to collaborate to improve outcomes in the most intensive of care settings. I’d like to thank Cody Kittle at Elliott Management and Ned Scheetz at Aphelion Capital for their unwavering support in driving this result.”