New Zealand-based software firm Orion Health reportedly announced to have concluded its deal with technology investor Hg for the takeover of Rhapsody and a 24.9 percent stake in its Population Health Management business. As per trusted sources, the new acquisition and investment marks the next chapter for the company as a global tech leader in Population Health business.

Reportedly, Orion Health remains a majority owner of its Population Health business with 75.1 percent stake and retains a 24.9 percent investment in the Rhapsody business. The partnership with Hg provides a robust platform for Orion Health to sustain its performance in delivering long-term value to consumers and enable the firm to focus on its fundamental business of Population Health Management. For the record, Hg is a specialist technology investor with extensive healthcare expertise and now provides a combination of global network and investment to Orion Health.

Founder and Chief Executive Officer of Orion Health, Ian McCrae was reportedly quoted stating that the company has achieved a remarkable milestone by finalizing the investment deal with Hg to acquire Rhapsody and investing in Population Health. The acquisition gives enormous leverage to Orion in the healthcare technology market as Hg is a globally connected investor and has a commendable expertise in healthcare tech, McCrae further added.

The infusion of capital speeds up the product roadmap of Orion Health which aims to deliver innovative products to enable healthcare institutions to take benefit from its large data stores by utilizing machine learning and analytics models.

Working closely with Hg in the transition and its future growth, Orion Health is committed to the Rhapsody business not only as a stakeholder, but also as a reseller and partner. The company’s focus on its Population Health technology roadmap would assist healthcare institutions to be a part of more streamlined and secured data across their systems, McCrae further elaborated.