Specialty Networks
Assisting healthcare providers in enhancing patient outcomes by ensuring timely access to appropriate care for each individual.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
* | $1.2b Valuation: $1.2b | Acquisition | |
| Total Funding | 000k | ||
Specialty Networks operates as an integrated, multi-specialty organization focused on creating clinical and economic value for independent specialty medical practices. The company primarily serves independent physician practices and groups within the urology, gastroenterology, and rheumatology specialties, representing a network of over 11,000 providers. Its client base also includes pharmaceutical companies, medical device manufacturers, wholesalers, distributors, payers, and policymakers.
The company was founded by David Coury, who initially established UroGPO in 2013, which later evolved into Specialty Networks. In October 2022, Coury transitioned to the role of Executive Chairman, and Shailendra Sharma, who had been President since 2020, was appointed CEO. A significant milestone occurred in January 2024, when Cardinal Health (NYSE: CAH) announced a definitive agreement to acquire Specialty Networks for $1.2 billion in cash, a transaction that was completed in March 2024. Specialty Networks now operates as a subsidiary of Cardinal Health.
The business model centers on leveraging the collective power of its extensive provider network. It generates value through several key offerings, including Group Purchasing Organizations (GPOs) that negotiate favorable purchasing agreements for pharmaceuticals, services, and medical devices. The company also provides life sciences solutions and clinical research services. A core component of its offering is the PPS Analytics platform, an AI-enabled technology that analyzes data from electronic medical records and practice management systems. This platform delivers actionable insights to providers to enhance patient care, manage population health, and improve adherence to clinical pathways. It also supports identifying patients for clinical trials and research studies. Revenue is created by providing these technology-enabled services, GPO contracts, and data solutions to its network of independent practices and industry partners.
Keywords: healthcare services, specialty physician practices, group purchasing organization, GPO, urology, gastroenterology, rheumatology, life sciences solutions, clinical research, population health management, PPS Analytics, value-based care, practice management, real-world data, healthcare data analytics, patient engagement, Cardinal Health subsidiary, David Coury, Shailendra Sharma, medical device purchasing, pharmaceutical services