GE Healthcare expands its healthcare consulting with purchase of Camden Group
In an attempt to expand its healthcare consulting business, General Electric Healthcare recently announced the acquisition of California-based consulting firm Camden Group.
Previously owned by DaVita HealthCare Partners, Camden Group will now become the U.S. business unit of GE Healthcare Partners, as the international conglomerate’s global healthcare advisory firm called GE Healthcare Camden Group.
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Last year, the Camden Group ranked as the 20th-largest healthcare management firm according to Modern Healthcare, as it had 350 contracts and $34.2 million in revenue. It’s estimated the new venture will serve over 500 contracts.
The joint venture will deliver strategic and financial consulting, along with services that target population health management, value-based care, clinical integration and care redesign. The partnership is believed to help GE Healthcare Partners work in the U.S. non-acute care space.
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“This blending of capabilities, experience, and resources creates a unique offering for the healthcare industry,” said Laura Jacobs, executive vice president for GE Healthcare Camden Group. “We are excited to join the GE Healthcare family and provide our clients access to the analytics, change management, and activation resources that will support the organizational and clinical changes required to be successful in healthcare now and into the future.”
UK-based GE Healthcare reported US$18.3 billion in revenue last year with US$3 billion in profit, which made up about 12 percent of the healthcare segment revenue for 2014. The other 70 percent of GE’s healthcare segment is comprised of Medical Equipment, which includes clinical systems and diagnostic imaging.
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The healthcare consulting industry has had several major deals this year already, such as Chicago-based Huron Consulting Group’s purchase of Studer Group, as well as healthcare analytics firm Inovalon’s acquisition of Avalere Health in August.
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