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Patient financial engagement company Cedar is beefing up its platform by purchasing OODA Health, a healthcare administrative platform for payers and providers, for $425 million.
The combined company will bring together Cedar’s patient-facing platform that creates a personalized billing experience for each user with OODA’s platform that seeks to cut back on administrative waste by enabling back-end communication between payers and providers. Cedar s mission has always been to transform healthcare and deliver the best possible financial experience for consumers, Florian Otto, CEO and cofounder of Cedar, said in a statement. We ve made great progress toward that goal, but consumers still need greater financial clarity and more affordable healthcare and the experience with one s provider or one s payer is just part of the issue. Both Cedar and OODA Health are forward-thinking when it comes to putting consumers first, and we believe that b