HOUSTON, TX – October 12, 2015 – Houston-based DHS Group, a provider of visionary, full-cycle population health solutions to employers, has acquired Cleveland, Ohio-based Movable, a wearable technology company that focuses on the business-to-business market. Movable has about 15 employees in the Cleveland market, all of whom are expected to remain there and with DHS, said Jim Pritchett, CEO of DHS. This brings DHS’s headcount to 35 employees nationwide, Pritchett added. The price of the acquisition was not disclosed.
The Movable acquisition is timed with DHS’s launch of its new platform, HealthSpective Engage. It allows large employers to track and manage employee’s health. The product already existed prior to the acquisition, but the new technology allows DHS to enhance the product and provide direct data, versus pulling the health information from third-party devices.
“Our approach is that we already have all the health data related to each employee, we analyze in the aggregate, give each employee their individual health data and update monthly,” Pritchett said. “The more information they have access to, they’ll get more engaged in health.”
Pritchett previously worked in the energy technology space with Petris Technology in the 1990s and early 2000s before recently joining DHS. Fairmount Partners acted as advisor to DHS Group in the transaction after previously representing Petris Technology in its sale to Halliburton.
Founded in 2011, Movable is on a mission to improve personal well-being by inspiring movement in groups. The company’s three-part platform combines a simple wearable device (either a 3rd party device or Movable’s own low-cost option), engaging front-end dashboard, and powerful back-end analytics to drive positive outcomes.
About DHS Group
With healthcare quality reporting roots extending back to 1997, DHS Group simplifies the data behind healthcare, creating actionable solutions, engagement tools and resources that elevate population health. As experts in health data analytics, DHS Group helps clients monitor the health of their population and target cost saving initiatives that focus on health improvement and effective and efficient use of resources. DHS Group integrates client healthcare data into a proprietary digital platform, HealthSpective®, that presents members with an all-in-one snapshot of health status, progress and engagement activities, including step data from fitness devices. Other DHS Group health solutions include: HEDIS reporting, Medicare Part C-D auditing, cost-management and reporting software and services. DHS Group is headquartered in Houston, Texas and is also located in Cleveland, Ohio. Learn more at www.DHSGroup.com.
About Fairmount Partners
Fairmount Partners is one of the largest investment banking groups in the Mid-Atlantic region. The firm specializes in advising middle-market growth companies with mergers and acquisitions, capital raising and strategic advice. Fairmount offers deep expertise in technology and healthcare services and related products. Fairmount has completed more than 160 transactions throughout North and South America, Europe, Asia and Australia. For more information, please visit: www.fairmountpartners.com
Principals of Fairmount Partners acted as advisors to DHS Group in this transaction.
Fairmount Partners is a registered Broker Dealer, member FINRA (www.finra.org) and SIPC (www.sipc.org).