Arcadia acquires CareJourney to enable high-performing networks and value-based care success

BOSTON, MA. — Arcadia® (arcadia.io), a leading data platform for healthcare, announced today the acquisition of CareJourney®, a preeminent provider of clinically relevant healthcare data and AI-powered analytics and insights. This strategic acquisition blends Arcadia’s next-generation healthcare data platform, proprietary analytics, and workflow tools with CareJourney’s cost, quality, and benchmark data. CareJourney derives market-leading analytics from Medicare, Medicaid, Medicare Advantage, and Commercial claims data across more than 300 million beneficiaries and over 2 million providers nationwide. Payers, providers, and employers can use these actionable insights to accelerate growth and improve performance.

With the integration of CareJourney, Arcadia will help healthcare organizations succeed in two ways. First, delivering an expanded breadth of data to fuel advanced analytics that help organizations shape their strategies and focus on what matters — like navigating alternative payment models, market expansion, and new partnership models. Second, a fast, scalable, and interoperable platform with the operational tools required to act and execute opportunities to improve patient and financial outcomes.

Collectively, the organizations further enable healthcare customers to put data to work at the speed, scale, and sophistication required to grow high-performing networks, accelerate digital transformation, and succeed in value-based care.

"The transaction marks the beginning of a new chapter of growth for our business, with plans to improve healthcare outcomes through data-driven insights and AI-driven tools and expand further our provider, payer, and government sectors," said Michael Meucci, President and CEO of Arcadia. "Arcadia committed to using $125 million in financing from Vista Credit Partners to accelerate platform innovation, company growth, and leadership in healthcare data analytics. We did exactly that by launching a next-generation data platform for healthcare, expanding our ecosystem of solutions and partners to drive innovation, and now acquiring CareJourney, a leader in helping healthcare organizations thrive through actionable analytics and insights."

The acquisition enhances Arcadia’s ability to provide comprehensive, data-driven solutions with nimbleness and responsiveness, ensuring that customers can shape their strategies effectively. For Arcadia customers, the acquisition will provide access to additional data sources for enhanced benchmarking, network performance modeling, and evaluating growth strategies. For CareJourney customers, the integration will offer a robust healthcare data platform with enhanced speed, reliability, and scalability, as well as workflow tooling to connect insights to action.

"As our health system matures our approach to value-based care, I'm delighted to see two of our most trusted data platform partners coming together," said Dr. Omar Lateef, President and CEO of Rush University System for Health and Rush University Medical Center. "We will benefit from their collaborative approach to understand how to grow responsibly and execute more precisely."

Arcadia is trusted by the nation’s leading healthcare brands, including Southwestern Health Resources, Tandigm, Castell, Rush Health, and Beth Israel Lahey Health.

"Achieving near-universal accountable care by 2030 requires actionable insights at every critical moment in care delivery," said Aneesh Chopra, President of CareJourney and former U.S. Chief Technology Officer. "By merging CareJourney’s advanced data science with Arcadia’s data engineering and operational tools, we will equip providers and payers with the tools to manage costs, build high-performing networks, and excel in value-based care."

The deal combines two profitable growth companies to deliver on Arcadia’s vision to build an interoperable data platform that accelerates and sustains healthcare transformation. With the acquisition, Arcadia’s portfolio of provider, payer, government, and life science customers totals nearly 200.

"Arcadia and CareJourney have collaborated for years as business partners — including serving many mutual customers who trust us to deliver outstanding solutions," said Dan Ross, co-founder and CEO of CareJourney. "By coming together, we’re creating a powerful combination and a gold standard to drive significant advancements in healthcare data analytics, value-based care, and overall healthcare system efficiency."

About Arcadia

Arcadia is dedicated to happier, healthier days for all. We transform data into powerful insights that deliver results. Through our partnerships with the nation’s leading health systems, payers, and life science companies, we are growing a community of innovation to improve care, maximize value, and confront emerging challenges. For more information, visit arcadia.io.

About Peloton Equity

Peloton Equity, LLC (pelotonequity.com) is a private equity firm focused exclusively on growth capital investments in the healthcare industry. Peloton was formed in 2014 as the successor firm to Ferrer Freeman & Company (“FFC”) and invests in companies with between $10 million and $200 million of revenue that have the management team, market opportunity and business model to grow revenues significantly over the life of its investment. Peloton seeks to be a significant investor in companies with high-growth potential, driven by a clear value proposition to the healthcare industry. Peloton’s investment team has invested in over 35 unique healthcare companies and has deployed over $800 million in capital. Recent investments include AeroSafe Global, ClearSky Health, AeroCare Holdings and OnPoint Healthcare Partners.