Health Catalyst (HCAT) has announced the acquisition of Twistle, a healthcare patient engagement SaaS technology company. The financial terms of the deal have been kept under wraps.
Health Catalyst is looking to fund the deal with both stocks and cash. The deal is likely to close in the third quarter of 2021.
Health Catalyst is a leading provider of data and analytics technology and services to healthcare organizations committed to being the catalyst for massive, measurable, data-informed healthcare improvement.
Health Catalyst believes that a combination of Twistle’s well-planned patient engagement platform and the company’s own population health offering will enable it to serve its customers more efficiently.
CEO of Health Catalyst Dan Burton said, “Twistle is a leading healthcare technology company committed to developing software that healthcare organizations and Life Science companies need to keep patients engaged in their healthcare. Their efforts to improve patient outcomes and reduce the cost of care are deeply aligned with our mission to be the catalyst for massive, measurable, data-informed improvements. We are excited to welcome the Twistle team to Health Catalyst and look forward to working together to enable healthcare organizations to achieve the promise of population health.” (See Health Catalyst stock chart on TipRanks)
Recently, Truist Financial analyst Sandy Draper reiterated a Buy rating on the stock. The analyst, however, raised the price target from $55 to $60 (4.35% upside potential).
According to Draper, the company’s robust Q1 results backed by higher revenues and operating profit lend strength to the stock. Furthermore, the analyst believes that a strong future client growth scenario and more subscription customers can lead to significant sales growth and gross margins.
Consensus among analysts is a Strong Buy based on 10 Buys. The average Health Catalyst analyst price target of $59.90 implies upside potential of 4.2% from current levels. Shares of the company have gained 85.1% over the past year.
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