Investment firm SAIGroup acquired digital patient engagement company Get Well, which joins the firm's growing portfolio of AI healthcare companies.
Get Well, formerly known as GetWellNetwork, was founded in 2000 and developed solutions supporting more than 10 million annual patient interactions at over 1,000 healthcare organizations, according to the company. The company works with enterprise health systems like Adventist Health, Lifebridge Health, Kaiser Permanente and Children's Hospital of Colorado.
Following the acquisition, SAIGroup plans to supercharge Get Well's patient engagement solutions with predictive and generative AI technology. This will enable a "new level of precision engagement," according to executives, and bring new insights and capabilities to Get Well's product portfolio and patient data set.
Financial terms of the deal were not disclosed.
SAIGroup founder and CEO Romesh Wadhwani, Ph.D., will serve as Get Well chairman, and Michael O'Neil will continue as Get Well founder and CEO.
"As part of SAIGroup, Get Well's mission to enable the best patient experience will undergo a rapid transformation with AI to a full precision care platform for hospitals and ambulatory centers," Wadhwani said in a statement. "This strategic investment underscores SAIGroup's commitment to innovative AI-driven solutions in healthcare and highlights our confidence in Get Well as a leader in the digital patient engagement space."
SAIGroup invests in enterprise AI software companies. It's portfolio includes SymphonyAI, which is used in retail, financial services and other industries, as well as clinical AI and real world data company ConcertAI and generative AI-native precision care clinician platform RhythmX AI.
Wadhwani, a billionaire Silicon Valley technology leader, has committed $1 billion of his personal fortune to advance predictive and generative AI.
Founded in 2017, ConcertAI specializes in software and real-world evidence for clinical trials. The company uses advanced AI platforms and real-world data from more than 4 million patients. ConcertAI’s clients include 35 life sciences companies and more than 1,300 hospital systems globally.
RhythmX AI rolled out last October with a $50 million investment and is a generative-AI-based platform for physicians and health systems.
SAIGroup says RhythmX AI's platform and healthcare data include longitudinal metadata related to 300 million patients, more than 4.4 billion total annual claims and more than 1.8 million healthcare professionals.
RhythmX's capabilities and data will help Get Well enhance the patient and clinician experience at the point of care, increase clinician efficiency and deliver precision care recommendations, according to executives.
"We are thrilled about this investment and the opportunity to take the Get Well portfolio to the next level," O'Neil said in a statement. "The AI capabilities of SAIGroup will enable Get Well to accelerate our innovation roadmap and transform how healthcare providers care for and interact with patients. SAIGroup and Get Well are committed to pushing the boundaries of how generative AI can enhance digital patient engagement."
Oxford Finance provided debt financing for the transaction, and McDermott Will & Emery served as legal counsel to SAIGroup. Cain Brothers served as financial adviser and DLA Piper served as legal adviser to Get Well.