Bowstring Advises Best Doctors in its Acquisition of Rise Health

October 30, 2014 | Atlanta, GA

Bowstring Advisors (“Bowstring”) served as the exclusive financial advisor to Best Doctors, Inc. (“Best Doctors”), the global health company that brings together the best minds in medicine to help people get the right diagnosis and treatment plan, for its acquisition of Rise Health. Rise Health is a leading population health management company. The acquisition provides Best Doctors® with data integration and advanced analytics capabilities to add to its care management platform and expansion into new markets.

“For over 25 years, Best Doctors has been innovating to help employers and health plans ensure that their members combat medical uncertainty with access to the best medical minds,” said David Seligman, Chairman and CEO of Best Doctors. “With the acquisition of Rise Health and its robust software platform and application development team, we can take that medical excellence and turn actionable insight into personalized engagement to deliver the right care, leveraging Best Doctors’ global delivery model.”

Chicago-based Rise Health has built a comprehensive population health platform that develops intelligent, actionable data at a population level, and supports care delivery teams in taking action at the member level.  The Company provides tools to help payers and providers manage the transition from fee for service to value-based care. Designed specifically for today’s risk-sharing environments, Rise Health’s sophisticated technology is intended for results. Through a vertically integrated product suite that includes Ascend Enterprise Platform, Stratus Population Health Analytics application and Cirrus Patient Relationship Manager, Rise Health offers a complete solution that enables clinical surveillance and improves operational processes. Together with Rise Health, Best Doctors has the ability to reach across all market segments with a combined solution offering analytic insights and medical expertise in an intimate consumer-centric experience. Benefits of the transaction include:

Enhanced Revenue Streams From Complementary Products 

Rise Health adds significant and stable recurring revenue streams from its innovative suite of products. These include Ascend, a robust and highly scalable cloud platform that integrates payer, EMR, and other clinical data streams, as well as Stratus, a data visualization and analytics platform, and Cirrus, a healthcare-focused CRM tool for providers to manage their patient populations. SAAS-based revenue from these products enhances recurring revenue from existing products and services for Best Doctors.

Talented and Accomplished Employees With Extensive Healthcare Research and Development Experience

Rise Health brings a dedicated, talented team of professionals whose healthcare knowledge and expertise has established Rise Health as a premier provider of software-based population health solutions. Part of this employee base includes research and development staff whose experience includes developing applications for emergency rooms at IBEX, Picis, and Optum. The result is an experienced research and development, support and services organization focused on delivering reliable and efficient data and analytics solutions to the healthcare industry.

Rapid Development Capabilities of Technical Intellectual Property

The Rise Health platform provides a highly secure cloud platform that scales to meet the requirements of the largest enterprises and integrates with major health plans and providers. The Rise Health Ascend platform brings together data from the entire healthcare ecosystem, including clinical, claims, and consumer, and combines it with internal data generated from use of Rise Health and Best Doctors applications. That database already includes highly acute and complex cases where Best Doctors has demonstrated a meaningful improvement on outcomes for the 3% of the population driving 40% of all health care spending in the United States.

“Population health has so far been defined by data integration and analytics, but these alone don’t improve quality and outcomes or lower cost,” said Dr. Mark Crockett, CEO for Rise Health. “The combination of our companies really creates an exciting, new kind of healthcare enterprise – one that transforms insight into action.”

Since its founding in 1989, Best Doctors has been changing the paradigm of how members experience healthcare. The company, internationally recognized as the industry leader, has the most recognized and trusted database representing the best 5 percent of physicians in over 450 specialties and subspecialties of medicine, as determined by impartial peer review and audited and certified by Gallup®. This collection of the brightest minds in medicine is integral to Best Doctors’ ability to carefully analyze each member’s entire medical history, ask all the right questions, and consult its specialist experts who work with physicians to reach the most accurate diagnosis and treatment recommendations. These steps alone have helped Best Doctors overcome many of the shortcomings in overburdened healthcare systems around the world.

The Company continues to expand its impressive portfolio of Fortune 500 clients and leading health plans, which represent some of the leading organizations in the nation when it comes to providing the right health solutions for their valued employees and members. These employers offer access to health services provided by Best Doctors as a valued employee benefit that Best Doctors seamlessly integrates with their other health-related benefits.

“Today’s health system is fractured and time-strapped, leaving too many people confused about the right medical decisions as they navigate a giant healthcare maze,” added Seligman. “Best Doctors and Rise Health have already had a massive impact upon the industry through an emphasis on innovation and a focus on improving health quality and outcomes. Together, we will be able to help employers, workers’ compensation clients, payers, and providers transform the quality of healthcare they provide while reducing costs.”

Tom Donahue, Managing Director at Bowstring Advisors, said, “With the addition of Rise Health’s population management platform, Best Doctors continues to enhance its ability to translate data and insight into delivering the highest-quality care for patients. The Bowstring team appreciates the opportunity to work with both teams on this strategic event.”

With the addition of Rise Health’s population management platform, Best Doctors continues to enhance its ability to translate data and insight into delivering the highest-quality care for patients. The Bowstring team appreciates the opportunity to work with both teams on this strategic event.

Tom Donahue
Managing Director
Bowstring Advisors