The acquisition also includes an earn-out opportunity of up to $15 million based on product delivery and revenue targets. The deal is expected to close by the end of this year.
Stanson, which is headquartered in Los Angeles, offers clinical decision support tools that are integrated into the EHR workflow. It’s also creating a product that will provide prior authorization decisions for medical and pharmacy benefits. About 300 healthcare facilities are currently using Stanson’s solutions.
The startup was formed in 2013. Its co-founder, physician Scott Weingarten, is the former CEO of Zynx Health, another provider of clinical decision support technologies.
Notably, Anne Wellington, who became the new managing director of the Cedars-Sinai accelerator earlier this year, worked at Stanson for a time. She previously served as its chief product officer and its vice president of informatics, according to her LinkedIn profile.
Premier provides supply chain solutions, data and analytics offerings, consulting and other services. Through the Stanson acquisition, it hopes to expand its reach to the point of care.
In a statement, Premier president and CEO Susan DeVore commented:
Stanson’s CDS tools will be key to realize Premier’s vision of an enterprise analytics and performance improvement platform, allowing us to provide evidence-based recommendations that improve quality and safety, while avoiding treatments that do not add value. At the same time, Stanson is developing tools that we believe will provide an attractive option to improve the burdensome process of prior authorization, which today is incredibly frustrating for both patients and providers.
Stanson Health’s team will continue operating remotely or out of its current headquarters in California.
Photo: crazydiva, Getty Images