Azalea, maker of a cloud-based EHR product, announced its plans to buy healthcare analytics platform dashboardMD for an undisclosed amount. 

Like Azalea, dashboardMD is also a cloud-based product. It specializes in integrated clinical analytics, as well as financial and operational analytics. Customers can use the plug-n-play tool for a number of services, including a daily analytics dashboard, performance scorecards and predictive analytics.

It will join Azalea, which makes a cloud-based EHR, a revenue management cycle tool, and a data insights and telehealth product. 

WHY IT MATTERS

Azalea is pitching this acquisition as a way to boost its analytics offerings. After the acquisition, the two teams will be working together with Azalea Health’s Baha Zeidan, who is continuing as CEO of the joint company, and dashboardMD’s CEO Jose Valero, who is coming on as director of analytics.

“Incorporating dashboardMD’s unrivaled analytics capabilities in our clinician-friendly EHR, and bringing Jose in to lead Azalea’s data analytics practice will empower providers to better manage clinical quality measures and have enhanced visibility into their revenue,” said Azalea Health CEO Baha Zeidan.

“We couldn’t be happier that Jose recognized Azalea as the EHR best positioned to supercharge the healthcare analytics space and help the medical field take a giant step forward through our unparalleled joint offering.”

THE LARGER TREND

This isn’t Azalea’s first M&A. In 2017, the company purchased EHR firm Prognosis Innovation Healthcare for an undisclosed sum. The Atlanta-based company has around $13.5 million in funding, according to Crunchbase.

Azalea isn’t the only cloud-based EHR on the market. PointClickCare Technologies also created cloud-based technology, however, their product is aimed at the long-term and post-acute care market. 

DrChrono is also looking to change EHRs with its smartphone-friendly EHR, billing and practice management platform. In June, the company scored $12 million to expand into the telehealth space.