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January 7, 2020

Denver company acquires one of CT’s fastest-growing med-tech firms

Photos | Contributed Evarient CEO Clay Ritchey.
By Sean Teehan

Farmington medical technology vendor Evariant has been sold to a Denver-based company that makes customer relationship management software for the healthcare and life sciences industries. 

Evariant, which has been named one of the fastest-growing companies in Connecticut and nationally several times, has been acquired by Healthgrades for an undisclosed sum. Evariant currently has its corporate headquarters on Farmington Avenue in Farmington but also has offices in Texas and Massachusetts, according to its website.

A Healthgrades spokeswoman said that while the majority of Evariant’s Farmington employees will be retained, some layoffs will be made locally as the company cuts redundant positions. She added that the Farmington office will remain in place, and that Healthgrades is committed to the Hartford area.

The sale is significant as Evariant has been one of the most successful medical-technology startups Greater Hartford and the state have seen in recent years. 

Evariant has been a mainstay on Marcum’s Tech Top 40 rankings in Connecticut, and has also been named to Deloitte’s national Technology Fast 500 list. 

Since 2011, Evariant's customer relationship management software has been helping hospitals all over the country identify groups of patients who need hospital services. Its predictive analytics takes claims and clinical data from insurers and hospitals and then pinpoints potential patients in need of care.

In 2017, Hartford Business Journal reported the company had 150 employees and raised $100 million since its inception.

“We are excited to become a part of Healthgrades and look forward to the significant opportunities ahead as the scale of our combined companies will fuel expansion of our products,” said Evarient CEO Clay Ritchey, who will leave the company after a transitional period.

The move will expand the slate of products Healthgrades offers, Healthgrades CEO Rob Draughton said. 

“This acquisition further positions Healthgrades to lead the industry in improving connections between consumers and providers across multiple solutions and media channels,” Draughton said.

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