from Chicago Inno – January 13, 2020
by Katherine Davis
Lumere, a Chicago-based healthcare analytics company formerly known as Procured Health, has been scooped up by a Colorado healthtech company.
Global Healthcare Exchange announced Monday that it acquired Lumere for an undisclosed amount. Founded in 2012, Lumere provides data and analytics to help healthcare organizations build supply chains that optimize the formulation of medications.
Lumere’s clients include Yale New Haven Health and Stanford Health Care. To date, Lumere has raised more than $20 million from investors like Jump Capital and FCA Venture Partners, according to Crunchbase. In 2016, the company raised a $10 million round led by the Heritage Group.
Global Healthcare Exchange, based in Louisville, Colo., says the acquisition of Lumere allows it to expand its portfolio of offerings and gives it a larger footprint in the pharmaceutical market.
“With health systems more accountable than ever for the results they deliver, the strategic imperatives of reducing cost and improving quality of care are more critical than ever,” said Bruce Johnson, CEO and president of GHX, in a statement. “We’ll continue to support our customers in their evolution from reimbursement based on quantity to reimbursement based on quality. We will do this by combining the strength of the GHX platform and the industry’s most comprehensive repository of item and transaction data, with Lumere’s deep clinical data and machine learning powered analytics to deliver the critical evidence-based insights healthcare needs.”