LeanTaaS Acquires Hospital IQ, reaches combined valuation of over $1B

Lauren Zyber

By on 01/11/23

LeanTaaS Acquires Hospital IQ, reaches combined valuation of over $1B

LeanTaaS, a leading provider of AI-powered and SaaS-based healthcare technology, announced it has acquired Hospital IQ, a leading provider of intelligent automation solutions for hospitals.

Not only does the acquisition value the combined company at more than $1 billion; it also enables it to power intelligent operations across more than 180+ U.S. health systems, making it the largest AI-powered hospital operations software provider in the healthcare technology industry. 

 

 

“We are thrilled to welcome Hospital IQ, a company that shares our passion and expertise for operational optimization in healthcare. The strategic combination of LeanTaaS and Hospital IQ unites the two best companies in hospital operations at a time of profound industry need,” Mohan Giridharadas, LeanTaaS founder and CEO, said in a press release. “Every health system in the country has an urgent need to improve the utilization of both staff and assets to improve patient access. By joining forces, we will be able to offer our customers an unparalleled platform for optimizing their operations and improving patient care.”

LeanTaaS's technology combine lean principles, predictive and prescriptive analytics, and machine learning to transform hospital and infusion center operations. Over 150 health systems across the nation use LeanTaaS to manage capacity and patient flow. Together, LeanTaaS and Hospital IQ will improve patient access, staff satisfaction, and revenue productivity. 

The three market leading products for ORs, Infusion Centers, and Inpatient Beds have been deployed by LeanTaaS across 500 hospitals in 43 states.

With expertise in workflow automation for inpatient flow and surgery, dynamic capacity and workforce management to meet patient demand, and deep existing partnerships with multiple technology providers, Hospital IQ's strengths are complementary to LeanTaaS, helping the two provide more comprehensive technology. 

“The combination of LeanTaaS and Hospital IQ marks a pivotal moment for the industry. Significant clinical advancements are happening, and our combined company is poised to unlock similar operational achievements,” said Rich Krueger, CEO of Hospital IQ. “Our teams share the same values — caring deeply about improving healthcare access, quality, and efficiency for everyone. We are excited to work alongside the LeanTaaS team as we continue to forge ahead on a joint mission to make a profound, positive impact on capacity, thus improving the staff and patient experience.”

This partnership couldn't come at a better time. According to Steve Hess, chief information officer of UCHealth, we're at "a crucial tipping point where health systems across the nation are struggling with the lingering effects of COVID-19 and endemic staffing challenges."

The announcement also comes just six months after LeanTaaS’ significant growth investment by Bain Capital Private Equity, and after recently being recognized as a top 100 healthcare and life sciences company on the Deloitte Technology Fast 500™.

LeanTaaS — which is based in Santa Clara, California; Charlotte, North Carolina; and is hiring remotely — is one of the top remote startups and tech companies to watch in 2023

For more information and hiring opportunities about LeanTaas, check out their profile 👇

APPLY NOW TO LEANTAAS

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