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LeanTaaS acquires hospital IQ to create AI innovator for hospital operations optimization

Press releases may be edited for formatting or style | January 11, 2023 Artificial Intelligence Business Affairs Health IT
SANTA CLARA, Calif.--(BUSINESS WIRE)--LeanTaaS, Inc., a Silicon Valley-based leading provider of AI-powered and SaaS-based capacity management and patient flow software for health systems, today announced it has acquired Hospital IQ, a leading provider of intelligent automation solutions for hospitals. The acquisition values the combined company at more than $1 billion in enterprise value and enables it to power intelligent operations across more than 180+ U.S. health systems. Together, LeanTaaS and Hospital IQ will drive improved patient access, staff satisfaction, and revenue productivity by solving thorny issues in multiple departments, including the infusion suite, operating room, and inpatient units, around capacity management and staffing shortages.

“We are thrilled to welcome Hospital IQ, a company that shares our passion and expertise for operational optimization in healthcare. The strategic combination of LeanTaaS and Hospital IQ unites the two best companies in hospital operations at a time of profound industry need,” said Mohan Giridharadas, LeanTaaS founder and CEO. “Every health system in the country has an urgent need to improve the utilization of both staff and assets to improve patient access. By joining forces, we will be able to offer our customers an unparalleled platform for optimizing their operations and improving patient care.”

The transaction creates the largest AI-powered hospital operations software provider in the healthcare technology industry. LeanTaaS has deployed its three market leading products (for ORs, Infusion Centers, and Inpatient Beds) at scale across 150 health systems and 500 hospitals in 43 states. Hospital IQ has complementary strengths in workflow automation for inpatient flow and surgery, dynamic capacity and workforce management to meet patient demand, and deep existing partnerships with multiple technology providers, including Oracle Cerner, Altera Digital Health (formerly part of Allscripts), and Siemens Healthineers.

“The combination of LeanTaaS and Hospital IQ marks a pivotal moment for the industry. Significant clinical advancements are happening, and our combined company is poised to unlock similar operational achievements,” said Rich Krueger, CEO of Hospital IQ. “Our teams share the same values — caring deeply about improving healthcare access, quality, and efficiency for everyone. We are excited to work alongside the LeanTaaS team as we continue to forge ahead on a joint mission to make a profound, positive impact on capacity, thus improving the staff and patient experience.”

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