Advantasure Acquires Government Works' Healthcare Assets to Strengthen Position as a Leading Health Tech Solutions Provider

VCBeat (WeChat Official Account: vcbeat) learned via Business Wire that on November 12, 2019, Advantasure, a U.S. provider of medical technology solutions, announced the acquisition of Gateway, a healthcare asset under Government Works. Financial terms of the transaction were not disclosed.

Advantasure, a subsidiary of Blue Cross Blue Shield of Michigan (BCBSM), a healthcare service provider based in Michigan, USA, is a medical technology solutions provider headquartered in Virginia, USA. Currently, Advantasure primarily provides technical solutions for clients in areas such as administrative services, administrative technology products, risk adjustment services, risk adjustment technology products, premium services, and health management.

The company helps clients reduce administrative costs, improve reimbursement accuracy, and enhance the quality of care for their members in the administration of government healthcare programs through a comprehensive portfolio of products and services.

Government Works, established in 2002, is a renowned provider of healthcare management solutions, IT services, and acquisition support for federal, state, and local governments, as well as leading healthcare organizations nationwide. Leveraging its extensive experience, Government Works delivers products and services to numerous U.S. federal agencies, including the Department of the Army, the Department of Health and Human Services, the Department of the Interior, the Department of Homeland Security, the Department of Defense, the Department of Justice, the General Services Administration, the Department of Veterans Affairs, the Department of Commerce, the Department of Transportation, the National Guard, and the Defense Information Systems Agency.

Jamie Wells, President of Advantasure, stated, “We are thrilled about this acquisition, as it further positions us as a leading medical technology solutions company in the industry. Integrating Gateway into our product suite will enable Advantasure to streamline customers’ enrollment eligibility processes, helping them secure Medicare membership.”

According to Per Krishna Ika, President and CEO of Government Works, this acquisition will further position Advantasure as an industry-leading medical technology solutions company, capable of performing real-time eligibility checks against the CMS enrollment database, thereby making it a distinctive component of Advantasure’s enrollment solutions.

Krishna Ika, President of Government Works, formerly served as President and Chief Executive Officer of Brainwave Science, the inventor and developer of Government Works’ proprietary iCognative® technology. This technology serves the global national security and law enforcement communities by eliminating torture in investigative processes.

Meanwhile, Krishna Ika is also a founding partner and board member of RxAdvance Corp. RxAdvance Corp is an innovative pharmacy benefit management company targeting an $840 billion market, which includes $370 billion currently served by existing pharmacy benefit managers (PBMs), $120 billion for specialty drugs, and $350 billion in what the company describes as avoidable medical costs driven by medication-related issues.

Blue Cross Blue Shield of Michigan was formed in 1975 through the merger of Michigan Blue Cross and Michigan Blue Shield. Headquartered in Michigan, United States, Blue Cross Blue Shield of Michigan (BCBSM) is a mutual insurance company that provides health insurance, dental insurance, and life insurance.

(Compiled by Wang Fang)