Home / M&A Activity / NewWave Eyes Value-Based Care Tech Expansion via iQuartic Purchase; Patrick Munis, Ze Jiang Quoted

NewWave Eyes Value-Based Care Tech Expansion via iQuartic Purchase; Patrick Munis, Ze Jiang Quoted

Jeff Brody
Patrick Munis

Elkridge, Md.-based NewWave Telecom & Technologies has acquired artificial intelligence company iQuartic for an undisclosed sum in a move to expand its offerings with the addition of value-based care platforms with AI capabilities for health care organizations.

NewWave CEO Patrick Munis said in a statement published Friday iQuartic’s natural language processing-based platforms align with NewWave’s work for the Centers for Medicare and Medicaid Services.

“Our products network and mine healthcare data systems and we have a natural affinity to the work NewWave is doing using technology to improve the healthcare system,” said Ze Jiang, founder and CEO of iQuartic. “We are both fundamentally working to provide the data that is actually useful to providers and payers, information they can use to improve the lives of patients.”

NewWave will continue iQuartic’s partnership with BlueCross BlueShield of Massachusetts and deliver health care technologies to providers serving commercial, Medicaid and Medicare Advantage patients.

Boston-based iQuartic offers NLP technology platforms that work to organize the coding process and optimize code capture from clinical data in order to generate intelligence derived from electronic medical records.

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