Signify Health Acquires Social Determinants-Based Company TAVHealth
Signify Health, a health IT vendor with home monitoring and care management solutions, has acquired TAVHealth, a start-up that has built a platform for collaborating with risk-bearing and community-based organizations to address social determinants of health (SDoH).
Terms of the acquisition were not disclosed, according to officials in a March 18 announcement, though a CNBC report noted that “the deal was in the high double-digit millions,” and that “Signify has a multi-billion dollar valuation.”
Signify Health, based in Dallas, manages a nationwide network of 4,000 doctors and nurse practitioners delivering healthcare services in the home to over a million Medicare Advantage members each year. While in the home, according to company officials, Signify clinicians frequently identify SDoH needs, ranging from food insecurity, transportation issues, and other factors, capture them in Signify's technology platform, and therefore enable case management referrals.
Now, the acquisition of TAVHealth “adds a curated network of community-based organizations and the technology capabilities for Signify to directly manage these SDOH needs on behalf of its clients, creating a closed loop between identification of SDOH needs, enrollment into SDOH programs, and coordination of services to better manage and improve health outcomes for members,” according to officials.
The cloud-based platform from TavHealth, based in San Antonio, aims to connect healthcare providers, payers and community organizations. "A surprisingly high percentage of health outcomes are driven by social, environmental, and behavioral factors," said Kyle Armbrester, CEO of Signify Health. "While we have rich data on these factors from what our clinicians capture while caring for members in the home, healthcare has historically had a last mile problem on connecting the need with the fulfillment.”
Matt Holt, managing director of New Mountain Capital, the private equity partner of Signify Health, noted in a statement, “As healthcare continues shifting paradigms toward value-based and at-risk care delivery, social factors are an increasingly critical part of the equation. This is a great addition to the Signify platform in providing a longitudinal view and approach to care for high-risk members who need it most."
