Mingle Analytics, a VC-backed company based in rural western Maine that helps healthcare providers manage federal Medicare reporting requirements, has merged with SilverVue, a healthcare-management software company in Utah.
The resulting company will be called Mingle Health and will provide a “data-driven” software platform to help healthcare providers “identify and solve common healthcare challenges related to preventive medicine, disease management, practice efficiency, patient transitions, and quality reporting.”
The merger is an all-stock transaction and was not a liquidity event for Mingle Analytics’ early investors, according to Dan Mingle, founder and CEO of Mingle Analytics. Those early investors include Maine Venture Fund, Coastal Ventures, Boston Millenia Partners, and angel investors from both the Maine Angels and the angel investment group in Bangor.
Stock holders of each company became stockholders in Mingle Health proportionate to their initial holdings and relative value of the two companies, Mingle told Maine Startups Insider.
As a result of the merger, Mingle has become executive chairman of Mingle Health, while Will West, founder and CEO of SilverVue, will serve as Mingle Health’s CEO.
The new company will be headquartered in Sandy, Utah, but will retain its Maine office and workforce, Mingle tells Maine Startups Insider. The company currently employs 40 employees spread across the state.
“We have no plans to relocate anyone or to eliminate or move our Maine office,” Mingle said. “We will continue to support a remote workforce. The innovative approach we developed at Mingle Analytics has fostered a strong sense of team and connectedness that has allowed us to bring on and keep talent wherever it resides.”
In fact, Mingle said he expects the merger, if anything, will result in an expansion of the company’s workforce in Maine.
Mingle founded Mingle Analytics in 2012 to help healthcare providers comply with the then-relatively new federal Medicare reporting requirements. Prior to that, he had consulted with healthcare organizations and helped MaineGeneral implement an electronic health records system (where he gained national recognition, being named innovator of the year in 2008 by Healthcare Informatics magazine). Before that he had been a doctor running his own physician practice in Norway, Maine.
Maine Startups Insider conducted an in-depth Founder Forum interview with Dan Mingle in January 2017 that goes into his journey as an entrepreneur, how he overcame the challenges of growing a business in rural Maine, why he deliberately remained unprofitable, and why he thinks the most innovative thing the company is doing might have nothing to do with healthcare.
