Minneapolis-based Ability Network sells to Inovalon for $1.2 billion
Analysts said
Ability Network and
The transaction consists of
Ability CEO
The
Ability was acquired in 2014 for
The company links health care providers, from a doctor's office to hospital systems, to payers, such as commercial insurers and Medicare.
Pulido said last year about half of the nation's "sites of care," including home health agencies and nursing homes, use Ability's "My Ability" online portal. The company, which sells software and related analytical services on a monthly subscription basis, has been recognized for its growth and technology, including being named last year to
Pulido, 64, has delivered a growing, profitable enterprise. According to
Upon closing, Ability Chief Financial Officer
Ability was founded in 2002 by
Ability, flush with two rounds of private equity capital, grew from
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