It didn’t take long for 2023 to mint its first digital health unicorn, and LeanTaas is now a billion dollar company after scooping up workforce management startup Hospital IQ.
The combined entity is now one of the largest providers of hospital efficiency solutions, as health systems scramble for new ways to address both labor shortages and mounting financial pressures.
If you’re unfamiliar with LeanTaas, it provides a cloud-based SaaS platform to optimize capacity for operating rooms, infusion centers, and inpatient beds.
- While LeanTaas focuses primarily on assets such as equipment and rooms, Hospital IQ is focused on staff optimization and workforce management.
- By combining these services, LeanTaas is aiming to become the “air traffic control center” for health systems, allowing them to take advantage of predictive AI to improve resource utilization and deliver better care.
The transaction arrives just six months after Bain Capital acquired a majority stake in LeanTaas, which included a “significant” growth investment to accelerate hiring and expand its customer base.
- LeanTaaS currently serves more than 150 health systems, and it just gained ~40 more from Hospital IQ, bringing its total customer base to over 600 hospitals.
- The combined company will also benefit from Hospital IQ’s distribution partnerships with various healthcare technology providers, including Oracle Cerner, Siemens Healthineers, and Altera Digital Health (formerly part of Allscripts).
The Takeaway
At a time when everyone is trying to do more with less, LeanTaas’ promise of resource optimization and staffing efficiency has to be one of the easier pitches to try and make to health system execs. Matching supply and demand in an industry where the demand is volatile and the supply is unpredictable is a tough challenge to crack, but bringing staffing and asset optimization solutions under one roof seems like a solid way to go about it.
