Covington Associates advises MedVentive in its Partnership Agreement with McKesson
Boston, MA – October 20, 2010 – Covington Associates acted as a strategic advisor to MedVentive in its agreement with McKesson, a healthcare services and information technology company, to offer a cutting-edge analytics solution to the payor market.
This solution, Analytics Advisor, features a prospective approach to analytics that enables payors to present providers with actionable data so they can intervene at the right time to drive meaningful change. Combining McKesson’s healthcare business expertise, broad solution portfolio and extensive channel with MedVentive’s proven analytics product will bring powerful analytics to the broader payor market to drive immediate value and position health plans for the changing market landscape.
“MedVentive’s roots are clinically based, and the organization knows first-hand how to help providers manage clinical and financial risk,” said Rose Higgins, vice president of care management solutions for McKesson Health Solutions. “MedVentive understands the critical need for a breakthrough analytics solution to deal with the inherent complexities of new reimbursement and care delivery models.”
“We are truly excited about this opportunity to bring proven transformative capabilities to the market in a more rapid fashion,” said Nancy J. Ham, MedVentive president and chief executive officer. “McKesson’s leadership in the payor industry and trusted client relationships will enable us to quickly demonstrate the strategic value of our solution to a large number of health plans – and illustrate the power of pinpointing where and how to intervene to improve the quality and cost equation.”
For more than a decade, MedVentive Inc. has worked with leading provider organizations and health plans to develop and deploy innovative, clinically sophisticated approaches to successfully reduce healthcare costs and improve the quality of patient care. MedVentive offers a fully-integrated suite of business & clinical intelligence and outreach applications that support best-in-class pay for performance programs, physician efficiency profiling, quality intervention, pharmacy management, and point-of-care decision support tools – all built on a risk-adjusted data foundation. Provider groups and health plans use MedVentive technology and services to identify their greatest healthcare improvement opportunities and to act quickly and efficiently to effect change through flexible, tailored solutions.
To learn more about MedVentive, visit www.medventive.com.
About Covington Associates LLC
Covington Associates is a specialty investment banking firm founded in 1991 serving business service, consumer, industrial, healthcare, and technology companies throughout the country.Â Focused on mergers and acquisitions, debt and equity capital raising, debt and equity restructuring, and strategic advisory assignments for middle market companies, Covington Associates has completed transactions ranging in value from $10 million to nearly $2 billion for both private and publicly traded companies.