Following layoffs, Definitive Healthcare buys Conn. data analytics company for $52M
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The Framingham offices of Definitive Healthcare
Framingham-based healthcare technology company Definitive Healthcare has acquired Connecticut healthcare provider analytics firm Populi for $52 million.
Definitive Healthcare announced the acquisition in tandem with its second quarter financial report, which had the company’s revenue up 12% to $61 million as opposed to the same period last year. Despite the increase in revenue, the company reported a net loss of $11.6 million for the second quarter.
In early August, the company laid off 4% of its workforce, citing inability to reach revenue benchmarks during the first half of the year. It was its second round of layoffs in 2023.
Populi, which is based in Connecticut, is focused on providing commercial data to healthcare organizations looking to grow, according to a Monday press release from Definitive Healthcare. The acquisition is part of Definitive Healthcare’s goal of becoming a leader in commercial intelligence.
The acquisition was for $52 million, according to information provided by Definitive to WBJ.
“Populi provides the dynamic, highly visual commercial intelligence that healthcare organizations need to grow,” Robert Musslewhite, CEO of Definitive Healthcare, said in the press release. “Our acquisition strategy is to find companies that either provide a new set of proprietary data to enhance our overall offering or provide a new capability to leverage our existing data in new use cases. Populi checks both boxes, and we’re thrilled to have them join the Definitive Healthcare team.”
The Populi technology integrates with other analytics software, including Salesforce and Tableau, and will ease the data visualization process.
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