Persistent Systems acquires Herald Health for $5.2mn
The Pune-based technology services system, Persistent Systems, has announced its acquisition of Herald Health.
The deal for the US tech startup has been valued at US$5.2mn – with $2.3mn paid upfront and the remaining $2.9mn to be offered as a deferred payment for management employees over a period of three years, dependant on performance.
Herald Health has focused on the implementation of platforms and IT services within healthcare, contributing to Persistent System’s portfolio.
“This acquisition further strengthens our IP portfolio in healthcare that includes our co-innovation work with leading university health systems and research organizations, as well as solutions that we’ve built jointly with our partner ecosystem,” stated Rahul Patel, General Manager of Healthcare Solutions at Persistent Systems.
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“This kind of innovation by Herald Health is driving change in healthcare. It’s not enough just to collect data, you have to give providers user-friendly tools and actionable insights in real time.”
“Herald Health has proven that when you do this in even one hospital, hundreds of doctors and thousands of patients can benefit.”
“When I began my clinical training, I was both impressed at how much data modern medicine can generate on patients and shocked at how few tools physicians were given to effectively process all of that data,” remarked Brad Diephuis, Managing Director and Co-founder of Herald Health.
“At Herald, we’re continually discovering how pervasive this problem is – not just for doctors, but for care coordinators, operations personnel, and hospital leadership – and building innovative solutions to make use of data in real time on the frontlines.”
“With Persistent’s resources and technical expertise, we’re looking forward to scaling these solutions to more hospitals and patients.”