June 24, 2021
Tegria, an innovative company launched by Providence in October 2020 to provide next-generation technologies and services to the healthcare sector, has announced the acquisition of KenSci, a leader in artificial intelligence (“AI”) platforms and applications for healthcare, with roots in Microsoft’s Azure4Research program and the University of Washington. Cascadia Capital has served as the ongoing buy-side advisor to Tegria and Providence over the last several years, and this transaction represents the seventh acquisition Cascadia has supported for the organization.
Founded in 2015, KenSci has earned recognition for its AI platform and solutions that integrate the latest descriptive and predictive analytics technology, which help healthcare organizations modernize their workflows and power a digital, data-driven, value-based healthcare system. KenSci’s customers, including providers, payers, and medical device companies, are bringing advanced analytics and artificial intelligence to their operational, clinical, and care workflows, improving care experiences and health outcomes.
KenSci customers have also benefited from the company’s strong partnerships with technology leaders. Its offerings are cloud native and built on Microsoft Azure. Microsoft named KenSci its US Healthcare Partner of the Year in 2020.
“Unlocking data to deliver insights is the key to making healthcare better for everyone,” said Wasif Rasheed, chief revenue and growth officer for Providence. “KenSci has been helping customers get more from their data for years, and they understand the vital roles invention and collaboration play in helping accelerate transformation across all facets of care. Combined with Tegria’s industry experience and wide range of solutions, KenSci can have a profound impact on healthcare worldwide. We’re excited to welcome KenSci to Tegria.”
“AI technology has become a ubiquitous theme in healthcare and is redefining how healthcare organizations leverage data to transform human health and improve care outcomes,” added Kevin Cable, Managing Director at Cascadia. “The acquisition represents a unique opportunity for Tegria to incorporate KenSci’s technology across the platform and benefit from their years of extensive research in the space.”
KenSci’s AI-powered platform derives insights from data that lead quickly to better patient experiences, more accurate diagnoses, and more efficient workflows. KenSci automates data preparation across disparate sources – including real-time and unstructured data – and maps it into industry-standard schema, making it ready for machine learning models.
With KenSci, Tegria can offer breadth and depth to the full range of Tegria capabilities in electronic health records optimization, managed services, revenue cycle management, and more. In joining Tegria, KenSci will continue to support its current customer portfolio while also collaborating with its new colleagues on combined offerings for the global healthcare market.
The acquisition of KenSci is the seventh acquisition that Cascadia has supported for Tegria and Providence, having previously provided buy-side advisory services in Tegria’s acquisitions of Colburn Hill, Cumberland, Acclara Solutions, MediRevv, Bluetree and Navin, Haffty & Associates.
For more information about this transaction, please contact the Cascadia Capital Healthcare team:
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