Stay updated with breaking news from Arel lidow. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Cedar to acquire OODA Health for $425 million Using a technology platform for both providers and payers, Cedar says it is tackling a fragmented billing system. Photo: Westend61/Getty Images Cedar, the maker of an intelligent patient billing platform, is set to acquire healthcare technology company OODA Health for $425 million. The news comes shortly after OODA wrapped up a $200 million series D funding round in March. Expected to close this month, Cedar said the acquisition is an essential step as it aims to create a one-stop transparent billing platform for consumers. Cedar is already engaging with more than 300,000 consumers a day. ....
Photo by Martin Barraud/Getty Images Patient financial engagement company Cedar is beefing up its platform by purchasing OODA Health, a healthcare administrative platform for payers and providers, for $425 million. The combined company will bring together Cedar’s patient-facing platform that creates a personalized billing experience for each user with OODA’s platform that seeks to cut back on administrative waste by enabling back-end communication between payers and providers. Cedar s mission has always been to transform healthcare and deliver the best possible financial experience for consumers, Florian Otto, CEO and cofounder of Cedar, said in a statement. We ve made great progress toward that goal, but consumers still need greater financial clarity and more affordable healthcare and the experience with one s provider or one s payer is just part of the issue. Both Cedar and OODA Health are forward-thinking when it comes to putting consumers first, and we ....
Cedar to Acquire OODA Health to Revolutionize Consumer Financial Healthcare Experience Cedar, a healthcare financial technology platform, today announced it has entered into a definitive agreement to acquire OODA Health, a healthcare technology company focused on improving the healthcare administrative experience with payers and providers, for $425 million. By bringing together providers and payers onto one healthcare financial technology platform, Cedar can address the full set of challenges consumers face when paying for healthcare. This acquisition comes at a time when consumer-friendly, digital-first experiences have become a hallmark of the healthcare experience, especially given healthcare consumers are getting more exposure to the billing process, and their financial burden has skyrocketed in recent years. The COVID-19 pandemic has shown how technology can transform healthcare, yet healthcare billing and administration is still a huge pain point for consumers 84 p ....