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Ziegler, a specialty investment bank, is pleased to announce its role as exclusive financial advisor to Xealth, a leading healthcare integration platform, on its sale to Samsung Electronics Co., Ltd. (Samsung). The transaction, which was originally announced in July, has completed all customary closing conditions, including required regulatory approvals.
Xealth, initially spun out of Providence Health System, combines multiple digital health solutions into a single user interface and platform, giving healthcare providers a more complete picture of their patients, and enabling real-time monitoring, continuous engagement and smarter decision making. Xealth acts as an orchestration layer that gives health systems control over how they manage, filter, and use data. The company currently has a network of more than 500 U.S. hospitals and more than 70 digital health solution partners, which will gain access to Samsung's platform and enhance the connected care platform.
Samsung has stated that this acquisition will further their push to unify fragmented health information and to empower individuals to take control of their own health.
"It has been a pleasure working with Mike McSherry, Aaron Sheedy, and the Xealth team. We are excited to see what Xealth and Samsung will achieve together as the digital health space continues to evolve," stated Grant Chamberlain, Senior Managing Director in Ziegler's Healthcare Investment Banking Practice.
Brian McGough, Senior Managing Director in Ziegler's Healthcare Investment Banking Practice added, "Ziegler was also pleased to work with Xealth's leading health system investors, including Advocate Health, Banner Health, ChristianaCare, Froedtert & Medical College of Wisconsin Health Network, Nebraska Medicine, Providence Health, Stanford Health, and UPMC among others."
Ziegler's Healthcare Investment Banking team was led by Grant Chamberlain and Patrick Hayes with support from Joe Gannon and Milena van der Reis. DLA Piper served as legal counsel to Xealth.
Ziegler Healthcare Investment Banking is focused on delivering best-in-class advisory and financing solutions for companies and organizations across the healthcare industry. In our core practice areas of healthcare services, information technology, hospitals, and senior living, Ziegler is one of the most active M&A firms offering differentiated sell-side, buy-side, recapitalization/restructuring, equity private placement, and strategic partnering services.
