AUSTIN, Texas--(BUSINESS WIRE)--agilon health (NYSE: AGL), the trusted partner empowering physicians to transform health care in our communities, today announced it has acquired mphrX, a leading provider of value-based care technology and interoperability solutions. As a result of the transaction, mphrX will become a wholly owned subsidiary of agilon health.
“At agilon, we are always looking for opportunities to better support our partners and help them more rapidly shift to a value-based, Total Care Model that improves patient outcomes and reduces costs,” said Steve Sell, chief executive officer, agilon health. “With this acquisition, agilon will be able to offer improved value for our partners and their patients earlier in our partnership, marking an important milestone as we scale our model into more communities.”
mphrX created the Minerva Healthcare Data Platform, which uses FHIR-based standards to help organizations aggregate, access, and store data across healthcare delivery networks. Minerva’s integration into agilon’s enterprise technology platform will enable faster onboarding of agilon partners and rapid integration of clinical data, accelerating performance and speed to value for patients and physicians.
“To improve patient outcomes, our partners need to be able to unify, share, and analyze patient data quickly and accurately,” said Girish Venkatachaliah, chief technology officer, agilon health. “Minerva will enable faster integration and onboarding of our partners and visibility into patient data across the care continuum. We are excited about how this will inform our artificial intelligence models and other insights we can deliver to our physician partners at the moment of care.”
“We are thrilled to be joining the agilon family and working together on our shared mission to transform health care,” said Mahesh Uberoi, president and chief executive officer, mphrX. “The integration of Minerva into agilon’s enterprise technology platform will provide greater access to our rich data set, enabling both companies to have a greater impact for our partners and customers.”
The acquisition, which closed on February 28, 2023, represents a $45 million investment by agilon. Management does not anticipate mphrX will have a meaningful impact on agilon’s Adjusted EBITDA during 2023. Macquarie Capital served as exclusive financial advisor to mphrX.
About agilon health
agilon health is the trusted partner empowering physicians to transform health care in our communities. Through our partnerships and purpose-built platform, agilon is accelerating at scale how physician groups transition to a value-based Total Care Model for senior patients. agilon provides the technology, people, capital, process, and access to a peer network of 2,200+ PCPs that allow physician groups to maintain their independence and focus on the total health of their most vulnerable patients. Together, agilon and its physician partners are creating the healthcare system we need – one built on the value of care, not the volume of fees. The result: healthier communities and empowered doctors. agilon is the trusted partner in 25 diverse communities and is here to help more of our nation's leading physician groups and health systems have a sustained, thriving future. For more information about agilon health, visit www.agilonhealth.com and connect with us on Twitter, Instagram, LinkedIn, and YouTube.
About mphrX
mphrX is an innovation partner for organizations pioneering the next generation of healthcare. mphrX’s Minerva Health Data Platform brings together patient data from multiple systems to create a real-time unified health record. mphrX is an ISO 13485, ISO 27001 certified organization. mphrX received the Frost and Sullivan Global Digital Transformation Platform Enabling Technology Leadership Award in 2020.
Forward Looking Statement
Statements in this release that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, among other things, statements regarding our and our officers’ intent, belief or expectation as identified by the use of words such as “may,” “will,” “project,” “expect,” “believe,” “intend,” “anticipate,” “seek,” "target," “forecast,” “plan,” “potential,” “estimate,” “could,” “would,” “should,” and other comparable and derivative terms or the negatives of such words. Examples of forward-looking statements include, among other things, statements regarding outcomes, improvements, integration, synergies, visibility and other details relating to the acquisition. The following important factors and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: the risk that the expected benefits of the transaction may not be fully achieved in a timely manner, or at all, and risks related to other factors discussed under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2022. Except as required by law, we do not undertake, and hereby disclaim, any obligation to update any forward-looking statements, which speak only as of the date on which they are made.
