Senior Management Led | Transactions

Has been acquired by

Boston – November 8, 2023 Outcome Capital, a specialized life science advisory and investment banking firm, today announced that Electronic Registry Systems, Inc. (ERS), a leading provider of cancer registry solutions and compliance and informatics services, has been acquired by Health Catalyst, Inc. (“Health Catalyst,” Nasdaq: HCAT), a healthcare technology and data analytics company with more than 50 health systems clients covering 110 million patients. Outcome Capital served as the exclusive strategic and financial advisor to ERS.

With the growing cancer burden of an estimated $200 billion annual spend in the U.S. and more than 100 distinct cancer types, further progress in the cancer treatment space will require automated data exchange from numerous sources enabling seamless integration of multiple data streams into a single, accessible patient file. ERS, a profitable, B2B SaaS company in the cancer data and analytics segment, has distinguished itself in recent years from its competition with more than 750 cancer center partnerships and longitudinal data covering more than 10 million patient records, and moving fully to a cloud-based offering and collaborating with best-in-class technology partners who provide innovations from Natural Language Processing (NLP), patient navigation and precision medicine to multi-disciplinary care platforms. ERS’ cancer registry software utilizes 785 individual data fields that are tracked in a health system’s or cancer center’s efforts to measure and improve treatment effectiveness and long-term patient outcomes.

“From my first meeting with Rohit Nayak, CEO of ERS, I could envision numerous potential acquirers, as robust, curated, longitudinal patient data is still king, whether in healthcare or the life sciences,” Karl Hess, managing director at Outcome Capital commented. “With Health Catalyst, it was clear that the overall similar strategic approaches, numerous synergies and well-aligned corporate cultures were a perfect match. The culmination of this process and the transaction represent a substantial ‘win’ for both parties, as well as their many shared (and net new) health system clients, who will undoubtedly benefit from the additional capabilities ERS adds to Health Catalyst’s already full quiver of healthcare data and analytics solutions.” 

Health Catalyst analytics applications platform and companion professional services together address the most pressing concerns of health care organizations, including managing population health; gaining a comprehensive view of the true cost of care; empowering executive decision support with a dashboard view of enterprise-wide performance; benchmarking and prioritizing improvement opportunities; and monitoring, detecting, predicting and preventing threats to patient safety, before harm can occur. 

“Outcome Capital was a true partner and collaborator starting from the evaluation and sourcing phase. Their teamwork and attention to detail was perfectly accompanied by their knowledge and expertise with the industry segment,” said Rohit. “Furthermore, their diligence prep rigor was extremely useful once we got to the post term-sheet/closing phase of the transaction. As a small business owner, I know I could not have survived the arduous legal and closing phase of this transaction without their help.” 

About Outcome Capital

Outcome Capital is a unique and highly specialized life sciences advisory and investment banking firm, providing innovative companies with a value-added, market-aligned approach to mergers & acquisitions, partnering, financing and strategic advisory. The firm uses its proven ‘strategy-led execution’ approach to value enhancement by assisting management teams and their boards in navigating both financial and strategic markets and implementing the best path for success. Outcome Capital’s strength stems from its multi-disciplinary team consisting of industry veterans who draw from their wide range of scientific, operational, strategic, and transactional expertise across the value chain, and broad industry network and relationships. Comprised of former CEOs, PhD/MD level scientists and clinicians, business development executives, and experienced commercialization experts, our team is driven to propel innovation from bench to bedside. Outcome Capital, Member FINRA/SIPC. please visit http://www.outcomecapital.com.

About ERS, Inc.

With CRStar, the industry’s first true cloud-based offering with innovative case-finding, abstracting and informatics capabilities, ERS, a Health Catalyst Company, empowers cancer centers to achieve their full potential by meeting and exceeding increasing regulatory, accreditation and quality reporting requirements while providing insights for enhancing cancer program management. More than a cancer registry and accreditation solution, many of our customers leverage CRStar as a knowledge center of actionable information to help guide key resource management, planning and program growth decisions with an emphasis on quality and research. For more information, please visit www.mycrstar.com.

About Health Catalyst

Health Catalyst is a leading provider of data and analytics technology and services to healthcare organizations committed to being the catalyst for massive, measurable, data-informed healthcare improvement. Its customers leverage the cloud-based data platform—powered by data from more than 100 million patient records and encompassing trillions of facts—as well as its analytics software and professional services expertise to make data-informed decisions and realize measurable clinical, financial, and operational improvements. Health Catalyst envisions a future in which all healthcare decisions are data informed. For more information, please visit http://www.healthcatalyst.com.