IntelyCare, a tech-enabled healthcare staffing platform, acquired acute care labor marketplace CareRev to build out its healthcare workforce management solution.
The company said the deal creates one of the most comprehensive clinical labor solutions in the market. Financial terms of the acquisition were not disclosed.
The deal comes as health systems continue to face critical labor issues with rapidly shifting workforce needs across acute and post-acute care settings. The company's combined offerings span clinician-facing job boards, recruiter and sourcing solutions, contingent labor resources and internal resource pool capabilities.
"Health systems are under enormous pressure to deliver high-quality care while managing unprecedented workforce complexity. By bringing IntelyCare and CareRev together, we're creating a more integrated and reliable way for facilities to manage permanent staff, internal resource pools, and contingent labor through a single tech platform," Matthew Levesque, CEO of IntelyCare and CareRev, said in a statement. "Our goal is to help healthcare providers operate more efficiently while maintaining consistency and quality across care settings."
Both companies will continue operating under their established brands and services, IntelyCare said.
IntelyCare experienced rapid growth during the COVID-19 pandemic as its platform helped health systems address complex staffing demands, especially nurse shortages.
The tech-enabled startup matches nurses with open assignments in post-acute care settings while managing scheduling and pay rates to give its professionals a “better nurse-life balance.” IntelyCare's on-demand mobile nursing job app simplifies the scheduling and staffing process to match qualified nursing professionals with shifts.
In April 2022, the company landed a $115 million series C funding round, propelling its valuation to $1.1 billion.
"As an early investor in IntelyCare, we've had a front-row seat to the evolution of the sector and the shifting workforce needs across acute and post-acute care. This milestone represents a significant next chapter for IntelyCare, one that expands its best-in-class post-acute solution into a full-spectrum platform with the addition of CareRev's acute care platform," said Keith Figlioli, managing partner at LRVHealth, in a statement.
"This acquisition brings together two companies with exceptional operational expertise and a clear thesis for where the market is heading. Health systems need partners who can simplify workforce complexity while improving clinician experience, and this combined organization is positioned to lead that transformation," said Jared Kesselheim, managing partner at investor Transformation Capital.