Investor-owned hospital giant HCA Healthcare acquired purchased-services analytics company Valify, the Nashville.-based health system announced Friday.
Frisco, Texas-based Valify aims to aggregate hospitals' often-overlooked array of contracts from laundry and food vendors to blood products, and benchmark their spending.
"Valify's advanced analytical platform will help us identify and pursue opportunities to decrease the overall cost to provide healthcare services," William Rutherford, HCA's chief financial officer and an executive vice president, said in prepared remarks.
The acquisition of privately held Valify for undisclosed terms continues to broaden HCA's revenue sources, similar to other health systems' endeavors.
HCA recently acquired a majority stake in the parent company that owns Galen College of Nursing, a private nursing school with five campuses. It marks HCA's third nursing school investment and helps shield the 184-hospital system's from ongoing labor shortages.
HCA has also been expanding its urgent care network, bolstering its close to 40 centers in North Texas with its purchase of 24 MedSpring urgent-care centers from Fresenius Medical Care.