SALT
LAKE CITY, Nov. 6, 2024 /PRNewswire/ -- Health
Catalyst, Inc. ("Health Catalyst," Nasdaq: HCAT), a leading
provider of data and analytics technology and services to
healthcare organizations, today announced it has signed a
definitive agreement to acquire Intraprise Health, LLC
("Intraprise"), a tech-enabled cybersecurity provider offering an
end-to-end cybersecurity risk management platform and services to
protect its clients from cyberattacks and manage follow-on
liability in the event of an incident. Health Catalyst anticipates
the acquisition will close in the fourth quarter of 2024.
Intraprise is a leading healthcare cybersecurity company with
the highest rating among cybersecurity products and service
companies, as shown in KLAS Research's 2024 Cybersecurity Survey.
Together with Health Catalyst, the combined security compliance
expertise will offer a broader set of capabilities to help solve
Health Catalyst's clients' most pressing data and improvement
challenges related to information security and risk management. The
resulting solution, solely dedicated to healthcare, will enable
healthcare leaders to swiftly adopt accurate evaluation,
remediation, and response strategies for escalating cyber threats
through cyber resilience programs.
Health Catalyst also anticipates that Intraprise will
enhance Health Catalyst's offerings by advancing information
security strategy and risk data management to incorporate industry
security standards and protocols. Health Catalyst expects that this
will enable benchmarking that supports comparisons and drives
transformational change in healthcare toward effective, best
practice-based security standards.
Health Catalyst CEO Dan Burton
said, "Cybersecurity is a critically important area for our
clients. The addition of Intraprise to Health Catalyst's
existing portfolio of data-driven improvement offerings will help
us fortify the support we provide healthcare leaders, specifically
addressing the costs associated with risk management at the
enterprise level and enhancing analytic capabilities to power more
meaningful security insights."
Intraprise CEO George Pappas
said, "Health Catalyst's next-generation healthcare data and
analytics ecosystem, Health Catalyst Ignite™, is well positioned to
help power additional foundational capabilities within our
offerings. The ecosystem's key efficiency in data gathering across
the enterprise complements our solution to monitor the
effectiveness of operational security controls and programs.
Together, we can offer further security measures and help our
clients realize data-informed improvement in their cybersecurity
posture."
"We're excited for the meaningful healthcare transformation that
can be realized by pairing Intraprise's AI-powered
cybersecurity prowess with the foundation of the Ignite ecosystem.
As we support our clients' fundamental data management and data
governance tasks through Ignite, folding in Intraprise's generative
AI to help address complex and evolving third-party risks will have
a significant impact on their data-driven efforts, optimizing
decision-making and, ultimately, improving healthcare outcomes,"
said Health Catalyst Chief Product Officer and Chief Technology
Officer Dave Ross.
Health Catalyst funded the transaction with a mix of cash and
stock. Additional details regarding the acquisition were included
in Health Catalyst's Form 8-K filed with the Securities and
Exchange Commission ("SEC") on November 6,
2024.
About Health Catalyst
Health Catalyst is a leading provider of data and analytics
technology and services to healthcare organizations committed to
being the catalyst for massive, measurable, data-informed
healthcare improvement. Its clients leverage the cloud-based data
platform—powered by data from more than 100 million patient records
and encompassing trillions of facts—as well as its analytics
software and professional services expertise to make data-informed
decisions and realize measurable clinical, financial, and
operational improvements. Health Catalyst envisions a future in
which all healthcare decisions are data informed.
About Intraprise Health
Intraprise Health is the leading compliance and cybersecurity
organization that provides a holistic visualization of compliance
and security posture for healthcare. Intraprise's comprehensive
services, backed by automation, rapidly integrate into native
environments, yielding a comprehensive view of risk–spanning
adherence to compliance frameworks, cybersecurity vulnerabilities,
and third-party risk.
Forward-Looking Statements
This release contains forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended, and
the Private Securities Litigation Reform Act of 1995, as amended.
These forward-looking statements include statements regarding
Health Catalyst's ability to close and the timing of the closing of
the acquisition of Intraprise, its integration with Health
Catalyst, and the benefits derived therefrom. Forward-looking
statements are subject to risks and uncertainties and are based on
potentially inaccurate assumptions that could cause actual results
to differ materially from those expected or implied by the
forward-looking statements. Actual results may differ materially
from the results predicted, and reported results should not be
considered as an indication of future performance.
Important risks and uncertainties that could cause actual
results to differ materially from Health Catalyst's expectations,
plans and prospects, including the benefits that will be derived
from this transaction, include without limitation, the risk of
adverse and unpredictable macro-economic conditions and risks
related to closing the acquisition and integration of Intraprise.
For a detailed discussion of the risk factors that could affect
Health Catalyst's actual results, please refer to the risk factors
identified in Health Catalyst's SEC reports, including, but not
limited to, the Quarterly Report on Form 10-Q for the fiscal
quarter ended September 30, 2024,
filed with the SEC on November 6,
2024 and the Annual Report on Form 10-K for the year ended
December 31, 2023, filed with the SEC
on February 22, 2024. All information
provided in this release and in the attachments is as of the date
hereof, and Health Catalyst undertakes no duty to update or revise
this information unless required by law.
Media Contact:
Amanda
Flanders
Senior Vice President of Marketing and Communications
media@healthcatalyst.com
808.743.1781
View original content to download
multimedia:https://www.prnewswire.com/news-releases/health-catalyst-signs-definitive-agreement-to-acquire-top-rated-cybersecurity-provider-intraprise-health-302297976.html
SOURCE Health Catalyst
