Imprivata, which offers a healthcare IT security and identity platform for authentication management, has acquired the identity and access management (IAM) portion of GE Healthcare business Caradigm for an undisclosed sum. Caradigm will continue to operate as a population health company, Imprivata said.
Together, Imprivata and Caradigm will accelerate the development of new IAM capabilities to improve healthcare provider productivity and reduce security risks and operational IT costs for hospitals and integrated delivery networks (IDNs) around the globe, according to in a prepared statement.
The Caradigm acquisition also will enable Imprivata to expand its market reach and its authentication and access management portfolio and bolster its partnership with GE Healthcare, Imprivata CEO Gus Malezis indicated.
Imprivata and Caradigm: Here's What You Need to Know
Founded in 2002, Imprivata is a Massachusetts-based healthcare IT security company that provides healthcare organizations with a platform designed to address compliance and security challenges, as well as improve provider productivity and the patient experience, according to the company.
Imprivata today offers a variety of healthcare IT security products and services, including:
- Healthcare communications.
- Enterprise single sign-on (SSO).
- Multi-factor authentication (MFA).
Caradigm provides intelligent healthcare analytics and population health management solutions. The business also delivers a wide range of IAM solutions, such as:
- Risk management and compliance.
Ultimately, the Caradigm acquisition may prove to be beneficial for both companies, CEO Neal Singh said in a prepared statement. It enables Caradigm to continue to prioritize population health management and predictive analytics, Singh stated, and allows both companies to strengthen their respective healthcare IT security capabilities.
Should MSSPs Prioritize the Healthcare Market?
The healthcare cybersecurity market could become exceedingly valuable to MSSPs, which is reflected in recent projections from market research firm Research and Markets.
Research and Markets has estimated the global healthcare cybersecurity market will expand at a compound annual growth rate (CAGR) of 12.7 percent between 2017 and 2022, according to a prepared statement.
In addition, key factors that may accelerate this market's growth include the rising demand for electronic medical records (EMR) and virtual information systems and proliferation of global cyber threats, Research and Markets stated.