Fabric, a leading health tech company, has completed the acquisition of GYANT, a virtual assistant provider in the healthcare sector.
The all-cash deal, whose financial details were not disclosed, marks a significant expansion for Fabric, bringing the total number of employees to 130.
Strategic Acquisition Overview:
Fabric’s acquisition of GYANT includes the integration of the entire GYANT team into Fabric.
The strategic move is aimed at enhancing Fabric’s capabilities and offerings in the healthcare space.
Stefan Behrens, CEO of GYANT, will play a crucial role in this expansion, joining the Fabric executive team as Chief Strategy Officer.
GYANT’s Virtual Assistant Technology:
GYANT specializes in offering a virtual assistant designed to guide patients through the complexities of their healthcare journey.
The platform utilizes conversational AI to assist patients from their initial digital interaction through the entire clinical process.
GYANT’s technology is deployed on various platforms, including websites, mobile apps, patient portals, and call centers.
The company collaborates with integrated delivery networks and payers to improve patient empowerment and streamline access to care.
GYANT’s Clientele and Integration:
With a client base spanning the United States, GYANT has established partnerships with major healthcare entities such as Cleveland Clinic, Intermountain Healthcare, Highmark Health, OSF HealthCare, and Geisinger.
The platform’s conversational AI seamlessly integrates into clinical workflows and electronic health records, contributing to a more efficient and patient-centric healthcare experience.
Fabric’s Care Enablement System:
Fabric, founded by Aniq Rahman, operates a care enablement system that empowers healthcare providers.
The system includes three key solutions: In-Person Care Suite, Virtual Care Suite, and Engagement Suite.
Leveraging conversational AI and adaptive interviews, Fabric’s platform unifies virtual and in-person care across various stages, including intake, triage, routing, and treatment.
The company’s protocols prioritize care quality and offer omnichannel access for patients.
Fabric’s Growth Trajectory:
Fabric, having emerged from stealth mode in the past year, has experienced rapid growth, surpassing eight figures in Annual Recurring Revenue (ARR).
The company currently serves 70 enterprise health customers through its innovative platform, showcasing its commitment to advancing healthcare solutions.
Commentary on Industry Impact:
The acquisition of GYANT positions Fabric as a robust player in the health tech landscape.
The combined expertise of both teams is expected to drive innovation and further improve the delivery of care, emphasizing patient-centric approaches and efficient workflows.
Conclusion:
As Fabric continues its trajectory of growth and expansion with the integration of GYANT’s capabilities, the healthcare industry anticipates the positive impact on patient experiences and the broader landscape of virtual and in-person care delivery.
The strategic alignment of both companies reinforces their commitment to advancing healthcare solutions through technology and patient-focused strategies.