Availity, a health tech solutions company, will acquire Diameter Health, a clinical data firm, the companies announced Tuesday.
Availity will integrate Diameter Health’s technology into its existing database with the aim of delivering an integrated data interoperability platform. This solution is intended to streamline sharing of clean and actionable data, and the companies hope to use it to transform value-based care innovation, executives said.
The acquisition is expected to be completed in the third quarter of 2022. Financial details of the deal were not disclosed.
“This acquisition underscores Availity’s strategy to empower providers and health plans to benefit from actionable, real-time, and precise data insights to reduce administrative inefficiencies, maximize revenue potential, and drive quality of care improvements for patients on one scalable platform,” Russ Thomas, CEO of Availity, said in a press release. “Fueled by Diameter’s technology, Availity will create the nation’s preeminent data acquisition and interoperability platform.”
Diameter Health’s technology, used by health plans, health tech companies and government organizations, cleans clinical data in real-time, transforming irregular, multi-format data into a comprehensive dataset. The process is meant to improve on limited data usability and exchange in healthcare.
“Clinical data is tremendously valuable, but the ability to structurally and semantically normalize multi-source, multi-format clinical data, and further enrich and deploy that data to drive action is still an emerging capability in healthcare,” Mary Lantin, president and COO of Diameter Health, said in the press release. “Diameter Health is a leader in unlocking clinical data’s full potential.”
The combination of Availity and Diameter Health tech will streamline interoperability and help payers, providers and others get clean, concise clinical data, the companies say. It could be used to build a comprehensive health record and drive customized decisions that identify and close care gaps, measure quality and automate prior authorization.
“Diameter Health has earned a world-class reputation for clinical informatics expertise and scalable, automated technology that makes health data interoperable, actionable and trustworthy,” said Eric Rosow, CEO and co-founder of Diameter Health. “We are excited to announce Diameter Health’s next chapter in becoming a foundational pillar of Availity’s broader platform offering, to enable better outcomes for providers and health plans nationally.”