Today we made an exciting announcement about investments in Orion Health’s Rhapsody and Population Health businesses from Hg, a specialist technology investor with a deep knowledge of the global healthcare technology sector. This investment provides Orion Health with a tremendous opportunity to deliver on our vision for customers, our people and for the healthcare sector.
Hg will acquire Orion Health’s Rhapsody business, with Orion Health retaining 24.9% shareholding in that business. Hg will also take a 24.9% stake in Orion Health’s Population Health business. Orion Health’s Hospitals business will remain 100% owned by Orion Health. The injection of capital will provide investment for Orion Health to build leading global technology for the healthcare sector.
Orion Health built the first Rhapsody integration engine in the late-1990s quickly becoming one of the most recognised interoperability platforms for healthcare organisations today. The combination of Rhapsody’s global team and Hg’s resources will extend Rhapsody as a leader in the interoperability platform space, building on both Rhapsody’s world class technology and highly rated customer service.
Philippe Houssiau, an experienced global technology executive, will step in to lead the Rhapsody business. Philippe has broad experience in leading healthcare businesses, consulting and start-ups, and is formerly CEO of Agfa Healthcare, CEO of Alliance Medical and a Senior Partner with PwC.
As the healthcare sector evolves, so too has Orion Health. We believe the biggest advances in healthcare technology will come from a range of capabilities including advanced analytics and better data flow to address critical issues within the sector. In the face of growing and aging populations and the rise of chronic diseases, health systems the world over are under enormous strain. Our Population Health and Hospitals solutions are focused on helping healthcare organisations turn data into insights and clinical action and allow them to use this knowledge to optimise budgets and provide targeted patient care.
These solutions for today’s healthcare environment combined with Hg’s investment will advance Orion Health’s businesses to reach their full potential over time. We remain committed to the Rhapsody business and will continue to work closely with the Rhapsody team. For our Population Health business, it will help strengthen our position as a market leader, and for our Hospitals business, it will further support its growth.
We are truly excited about the opportunity ahead for the business and the benefits our solutions can bring to the healthcare sector.