Healthtech unicorn Innovaccer, backed by Tiger Global, has completed the acquisition of Cured, a digital marketing and customer relationship management (CRM) startup. The strategic move aims to fortify Innovaccer’s position in the healthtech landscape by integrating Cured’s expertise in customer engagement and growth strategy.
Founded in 2018 by Andrew Sawyer, Ashmer Aslam, and Rohit Narayan, Colorado-based Cured specializes in providing solutions that empower healthcare organizations to seamlessly engage with their customers throughout their care journey. With this acquisition, Innovaccer is set to expand its customer portfolio, incorporating over 20 health systems and digital health clients from Cured.
As part of the deal, the three founders of Cured will assume leadership roles within Innovaccer, contributing to the development and execution of the unicorn’s CRM strategy. Innovaccer’s CEO, Abhinav Shashank, highlighted the synergies between the two companies, emphasizing Cured’s innovative approach to disrupting healthcare CRM and enhancing patient experiences.
The integration of Cured’s services with Innovaccer’s CRM capabilities is poised to accelerate innovations that not only improve the patient experience but also enhance outcomes. The collaboration is expected to leverage Cured’s library of over 80 curated, healthcare-specific journeys and AI-enhanced propensity models, combined with Innovaccer’s contact center and consumer data platform.
Expressing enthusiasm about the acquisition, Shashank stated, “Cured was the perfect fit, with a team that shares our passion and innovative mindset and a compelling approach to disrupt healthcare CRM.” Sawyer, Cured’s CEO, echoed this sentiment, emphasizing the natural synergy between the two companies and their shared commitment to transforming the patient experience.
Innovaccer, founded in 2014 by Shashank, Kanav Hasija, and Sandeep Gupta, achieved unicorn status in 2021 after securing $105 million in Series D funding from Tiger Global. The company’s solutions have been deployed across 1,600+ hospitals and clinics in the US, facilitating care delivery transformation for over 96,000 clinicians. Innovaccer claims to have unified health records for more than 54 million people and generated cumulative cost savings exceeding $1.5 billion.
Despite facing workforce challenges and laying off about 15% of its employees in 2023, Innovaccer remains committed to its growth trajectory, leveraging strategic acquisitions to enhance its capabilities and continue shaping the future of healthtech.
