Tegria, a health services company spun out of healthcare giant Providence, has acquired Seattle-based KenSci, which uses machine learning and AI-powered technology to predict when patients will get sick and lower costs.
The acquisition adds to Tegria’s wide range of services, recently consolidated from nine companies into a single offering providing healthcare consulting and technology services; revenue cycle management solutions; and software technology and platforms.
Terms of the deal were not disclosed.
Founded in 2015 by two childhood friends — Samir Manjure, a former Microsoft exec, and University of Washington-Tacoma professor Ankur Teredesai — KenSci helps healthcare organizations predict clinical, operational and financial risks by aggregating patient data from a variety of sources. These include patient devices, electronic medical records and public records.
KenSci aims to improve patient experiences and diagnoses, as well as workflows for its customers, which include providers, payers and medical device companies.
“If you can predict, you have an opportunity to impact and improve health outcomes,” Sudarshan Chitre, the new CEO of KenSci, said in a statement.
Manjure and Teredesai will not stay with the company, though Tegria plans to retain the KenSci team of about 50 data scientists, clinicians, engineers and AI infrastructure specialists. Most are in Seattle but the company also has offices in Singapore and Hyderabad.
Chitre, who has served as acting CEO since February, became CEO with the acquisition. The Amazon and Microsoft veteran was previously executive vice president, product and engineering at the company.
KenSci has raised $30 million to date; its most recent funding was a $22 million round in 2019. Investors include Ignition Partners, Osage University Partners, and Mindset Ventures.
Tegria declined to provide revenue metrics for KenSci.
The company has earned some accolades, including Health Innovation Awards in 2018 and 2019 from the Healthcare Information and Management Systems Society and Microsoft’s U.S. Healthcare Partner of the Year in 2020 (KenSci’s offerings are built on the company’s cloud computing service Microsoft Azure).
“KenSci has been helping customers get more from their data for years,” said Wasif Rasheed, chief revenue and growth officer for Providence, in a statement.
With more than 3,000 employees, Tegria operates as a for-profit, separately-incorporated company from Providence, one of the largest nonprofit healthcare systems in the U.S.