Analytics firm Sentry Data Systems on Tuesday said it will buy Nashville-based Agilum Healthcare Intelligence, which focuses on similar financial analytics, for an undisclosed sum.
Sentry, a software as a service company, helps healthcare organizations manage costs and outcomes, it said. Agilum, meanwhile, helps health systems increase their transparency and access actionable financial information.
The acquisition is a part of Sentry's strategic plan to develop and expand its financial analytics through its proprietary platform -- which currently provides support to more than 76 million patients and more than 7,000 hospitals, clinics, integrated delivery networks and pharmacies.
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Travis Leonardi, Sentry's CEO and founder, said in a statement that the company has helped healthcare organizations realize more than $4 billion in savings, adding that providing "the financial analytic and reporting solutions that meet our customers' business challenges remains central to our strategy."
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Sentry's DataNext platform provides analytics for pharmacy and supply chain departments. The acquisition is expected to enhance that platform, allowing customers a clear window to the financial performance of their business, including service line costs and labor productivity.
Mark McCurry, Agilum's CEO, said that value-based purchasing and other cost pressures put companies' margins at risk and touted the combined company's ability to help manage through that challenge.