Radiology vendor Change Healthcare this week announced the sale of its Connected Analytics business to consulting firm Kaufman Hall for $55 million.
In the nine months ending Dec. 31, the product line generated about $48.6 million for the Tennessee-based tech vendor, or about 2.5% of its earnings, according to a regulatory filing. Leaders said the sale will allow Change to focus on other areas of its business where it can “drive the greatest impact for our customers,” according to an announcement.
“Following a thoughtful and thorough search, we believe Kaufman Hall is the right partner for our employees and customers,” President and CEO Neil de Crescenzo said in a statement. "We remain committed to our Connected Analytics business customers and will work closely with Kaufman Hall to provide a seamless and uninterrupted transition.”
Products in the portfolio include the Performance Manager and Analytics Explorer, along with Data Platform & Solutions, HIE and Orders & Results. Change is the largest health-technology company in the Nashville region and went public in June 2019 under the ticker symbol CHNG. The company provides a host of data and analytics solutions in radiology and other specialties.
Marty Stempniak has covered healthcare since 2012, with his byline appearing in the American Hospital Association's member magazine, Modern Healthcare and McKnight's. Prior to that, he wrote about village government and local business for his hometown newspaper in Oak Park, Illinois. He won a Peter Lisagor and Gold EXCEL awards in 2017 for his coverage of the opioid epidemic.