“Healthcare is rife with inefficiency and must standardize the operational and clinical best practices and products that yield the best possible patient outcomes,” said Jennifer Fried, co-founder and CEO of Explorer Surgical. “With GHX, Explorer Surgical is well-positioned to provide tremendous value to the healthcare supplier industry and providers by integrating our technology to improve the delivery of care. Combining our companies accelerates our core mission of using technology and data to enable all healthcare stakeholders to collaborate to improve outcomes in the most intensive of care settings. I’d like to thank Cody Kittle at Elliott Management and Ned Scheetz at Aphelion Capital for their unwavering support in driving this result.”
This acquisition follows GHX’s January 2020 acquisition of Lumere as part of its strategy to continue equipping providers and suppliers with better data and information to improve patient care.
Founded in 2015, Explorer Surgical’s technology was initially developed at The University of Chicago Medical Center by Jennifer Fried and Dr. Alex Langerman. The company was financially backed by Elliott Management, Aphelion Capital and The University of Chicago, and has worked with healthcare supplier customers across multiple therapeutic areas. Key Explorer Surgical leaders, including Jennifer Fried and CTO Eugene Fine will remain with the combined organization, with Fried serving as General Manager of Explorer Surgical, a GHX Company. The company’s operations will remain in Chicago.
Financial terms of the transaction were not disclosed. BakerHostetler LLP acted as legal advisor to GHX. Barnes & Thornburg LLP acted as legal advisor and Piper Sandler & Co. acted as financial advisor to Explorer Surgical.
Building on decades of collaboration among providers, manufacturers, distributors and other industry stakeholders, Global Healthcare Exchange, LLC (GHX) is leading the charge in helping organizations run the new business of healthcare. By automating key business processes and translating evidence-based analytics and data into meaningful action, GHX is helping the healthcare ecosystem to move faster, operate more intelligently and achieve greater outcomes. With the support of GHX, healthcare organizations have removed billions of dollars of wasteful healthcare spend. GHX has also launched a COVID-19 Information Center that provides a wealth of free resources and access to data and information needed to help serve patients and protect staff during the pandemic.Back to HCB News