Strategic Management Consultants Acquires Shareable from Digital Reasoning
Wednesday, June 13th, 2018
Strategic Management Consultants LLC announced it had acquired Digital Reasoning’s anesthesiology mobile platform, Shareable Forms. The transaction was finalized May 16; financial terms were not disclosed. The move reflects SMC’s belief that the anesthesiology providers — who still record 88% of an estimated 50 million anesthetics on paper each year — will continue to accelerate their conversion from paper to digital records. The platform will continue to be marketed as Shareable. Shareable Forms is a DBA of SMC, an Atlanta based healthcare technology leader.
Digital Reasoning, a provider of AI-enabled solutions, acquired the mobile clinical documentation platform Shareable (formerly known as Shareable Ink) in 2016 as part of its expansion into directly collecting structured and unstructured data including the vast amounts of electronic patient data such as doctor’s notes. The sale of Shareable’s platform to SMC reflects Digital Reasoning’s desire to focus on the analysis of data, and not on its collection. From its founding in 2013, Shareable raised and invested almost $14 million in its platform.
“Sharable Forms understands the Anesthesia market and has a number of ideas on innovation in the space,” said Charlie Lefort, COO of Shareable Forms.
SMC has been widely successful in Healthcare Information Technology and has had a strong emphasis on Revenue Cycle Management since 2011. “We are extremely passionate about making sure customer service is the priority for the acquired business,” said Robert (Bobby) Mehan, CEO of SMC. “Our goal is to ensure Shareable’s customers are being served by a company that puts Anesthesia at the forefront of its innovation and service delivery model.”
As part of the transaction SMC will acquire the intellectual property [and staff] including:
Mobile Applications: a native iOS application that delivers and captures clinical information on a range of computing devices
Cloud-based Platform: a cloud-based middleware platform that enables the rapid design of electronic forms across a variety of formats, making it possible to transform paper-based workflows into digital data streams.
Clinical Systems Integration Expertise: staff experienced in seamlessly integrating its solution with various market-leading Electronic Health Record systems and clinical data warehouses, allowing for secure data exchange between on-premise and cloud-based systems.
Additionally, SMC will acquire Shareable’s current customers. In 2017, more than 280K cases were managed on the Shareable platform.
“This transaction enables Digital Reasoning to focus on its core healthcare strategy of providing AI-enabled care management solutions that extract valuable insights from the vast of amount of unstructured clinical data,” said Brett Jackson, CEO of Digital Reasoning. “We believe that SMC understands and is committed to the anesthesia market and will investment in the Shareable platform to deliver new capabilities and will provide a high level of support to Shareable customers.”