Hearst has acquired a majority stake in MedHOK, Inc., a Tampa-based startup and software-as-a-service provider to the healthcare industry, the company announced yesterday.
Terms of the deal were not disclosed, but upon the deal's anticipated completion this summer, MedHOK will join Hearst Business Media's healthcare information solutions group, which includes the companies FDB, Zynx Health, MCG, and Homecare Homebase.
"Hearst is committed to broadening our information business portfolio with companies that provide solutions that help professionals apply their expertise in the industries they serve," said Hearst Business Media President, Richard P. Malloch, in a statement. "The healthcare landscape is changing rapidly and MedHOK's cloud computing solution addresses a critical need."
MedHOK's software platform is designed to help health plans offered by insurance companies ensure compliance with government requirements, as well as manage clinical requirements for individual members, aiming to provide a 360-degree view of those individuals by integrating data from multiple sources.
Hearst claims that guidance from its health network's offerings reaches 84 percent of discharged patients and 177 insured individuals in the U.S. each year.
"Hearst is a leader in healthcare and I am confident that this partnership will help us to expand our reach, influence, and growth," added Anil Kottoor, MedHOK president and CEO.