Minneapolis-based Ability Network sells to Inovalon for $1.2 billion
Summary
Fast-growing Ability Network of Minneapolis will be acquired in a $1.2 billion transaction by the data analytics firm Inovalon Holdings of suburban Washington, D.C. Analysts said Inovalon will get scale and lessen its reliance on insurance companies through access to the 44,000 health care facilities in which Abilitys cloud-based software platform provides management and other administrative services and helps link payers and providers. Bowie, Md.-based Inovalons technology analyzes data about medical incidents and uses predictive algorithms to suggest health conditions. The company links health care providers, from a doctors office to hospital systems, to payers, such as commercial insurers and Medicare. The company, which sells software and related analytical services on a monthly subscription basis, has been recognized for its growth and technology, including being named last year to Forbes 2016 list of "The Cloud 100" for its Web-based payment-and-analytics systems. And its looked like a superhighway in recent years as the Affordable Care Act ramped up electronic records.
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