agilon health, inc. acquired My Personal Health Record Express, Inc. (mphrX) for $45.3 million.
mphrX (legal name My Personal Health Record Express, Inc.) is a provider of value-based care technology and interoperability solutions. Its Minerva Healthcare Data Platform uses FHIR-based standards to aggregate, access, and exchange clinical data across healthcare delivery networks. agilon acquired the company on February 28, 2023 for cash consideration of $45.3 million, net of cash acquired (the earnings release described it as roughly $44 million). The purchase price allocation assigned about $27.5 million to developed technology and roughly $21.6 million to goodwill, with about $3.8 million of assumed net liabilities.
agilon acquired mphrX to bring its Minerva data platform in-house so it could integrate the technology into its existing platform, enabling faster onboarding of physician partners and rapid integration of clinical data to accelerate performance and speed to value for patients and physicians. Management said it did not expect mphrX to have a meaningful financial impact, underscoring that this was a capability tuck-in rather than a growth acquisition.
Advisory firms were not disclosed for this transaction.