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Hemant Taneja, the CEO of top venture firm General Catalyst, cofounded the healthcare startup Commure in 2017, and launched it in 2020. AdvertisementIt's made six acquisitions in four years — a remarkable number for a healthcare startup. He hatched Commure inside General Catalyst in 2017 alongside former leaders from Google, Salesforce, and healthcare data analytics firm Health Catalyst. The Philadelphia-based health system co-created a startup with General Catalyst, patient engagement platform Tendo, in 2020. General Catalyst said HATCo will work closely with its more than 20 health system partners, including HCA Healthcare.
Persons: Hemant Taneja, Catalyst, PitchBook, Commure, It's, Augmedix, He's, Tyler Le, Taneja, Livongo, Teladoc, Glen Tullman, Ashwini Zenooz, CommureOS, Tanay Tandon, Rusty Russell, Strongline, Tandon, didn't, General Catalyst, it's, Axios, he's, HATCo, GABRIELLA AUDI, wasn't, Hemant Organizations: Catalyst, Business, Catalyst's, Google, NASDAQ, Jefferson Health, Healthcare, HCA Healthcare, Athelas, SMP Labs, SMP, Commure, BI, FCC, Labs, Strongline Pro, Strongline, Northern District of, Canopy, General, Health, Healthcare Assurance Transformation Corporation, Summa Health, Olive AI, Augmedix, HCA, Getty, Big Tech, Commure's Locations: Livongo, Philadelphia, Commure, PatientKeeper, Athelas, Strongline, Northern District, Northern District of California, Ohio, Augmedix
Read previewRevenue cycle management company R1 RCM just announced its acquisition by two private equity firms for a whopping $8.9 billion — signaling a long-awaited resurgence of big healthcare deals. Private equity's return to the sceneThe debt market is finally correcting for the types of deals healthcare companies have been waiting for. Revenue cycle management has long been a hot area for private equity firms. AdvertisementSpringer said she thinks private equity firms are "very unlikely to buy a care delivery company in this environment." Sen. Markey introduced the Health Over Wealth Act in July that would limit private equity investment in healthcare providers.
Persons: , Augmedix, Altaris, hasn't, dealmakers, David Marks, They're, Thad Davis, haven't, Davis, Tanay Tandon, Commure, Athelas, it's, Rebecca Springer, we'll, Shiv Rao, Abridge Springer, she'd, Springer, Steward, Sen, Markey, Brian Snyder, Knight's Marks, I've, Marks Organizations: Service, Business, Holland &, Leerink Partners, Epic, Mayo Clinic, Reuters, Holland, FTC
Read previewGeneral Catalyst-backed startups Commure and Athelas merged in October to create a $6 billion healthcare-AI startup. Shortly after the deal closed, though, the newly formed Commure cut staff, according to a leaked email obtained by Business Insider. The layoffs came just a month after Tandon told Business Insider that Commure planned to hire "aggressively" following the merger. Tandon told Business Insider in October that Commure's total headcount following the merger would be about 800. Both Commure and Athelas each had at least five years of cash runway before the merger, Tandon told Business Insider in October.
Persons: , Tanay Tandon, Tandon, Commure Organizations: Service, Athelas, Business, Bloomberg News
The General Catalyst-backed startups Commure and Athelas are merging in a deal to bring more artificial-intelligence tech to hospitals and health systems. The new company, which is keeping the name Commure, plans to stack Athelas' software on top of Commure's data platform for health systems. General Catalyst is investing $70 million in the new firm at a $6 billion valuation, and Tanay Tandon, the founder and CEO of Athelas, will lead the combined company. Commure will consider companies making those tools in a range of categories, including credentialing, contracting, and patient engagement, he said. The company has about 100 open positions, Tandon said, and expects to hire hundreds more people in 2024.
Persons: Tanay Tandon, Hemant Taneja, Tandon, Commure, Catalyst, Athelas Organizations: Catalyst, General
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