Coverys Announces Acquisition of Med-IQ
Coverys reaffirms its commitment to the improvement of patient care with the acquisition of Med-IQ, a leader in continuing medical education and healthcare improvement
Boston, MA – November 2, 2016 – Coverys announced today the acquisition of Med-IQ, a globally recognized leader in medical education and healthcare quality improvement. Med-IQ provides certified educational courses for clinicians; offers a suite of educational services to hospitals, academic medical centers, and medical societies; and delivers healthcare system– based quality improvement, education, and training. The transaction was finalized on October 31, 2016.
Med-IQ is an award-winning company headquartered in Baltimore, Maryland. The company was built on the core strategy of improving patient care through the development and dissemination of proprietary clinical content, education, tools, and resources that facilitate positive change in healthcare provider knowledge and behavior.
"Coverys is proud to welcome Med-IQ into our growing platform of educational resources for providers and healthcare organizations," said Gregg Hanson, CEO and president of Coverys. "As a leader in the medical education industry, Med-IQ's body of work has been recognized for achieving improvement in healthcare professional performance, quality of care, and patient outcomes—accomplishments that align with the Coverys commitment to deliver better solutions for better outcomes to our policyholders as well as the broader healthcare enterprise."
This acquisition affords Med-IQ's core medical education division the opportunity to continue to provide relevant and essential clinical education across a broad range of therapeutic areas to current Med-IQ clients while expanding its global clinician reach and participation. As part of Coverys, Med-IQ's Learning Solutions division will expand its portfolio of educational services that can be offered to hospitals and medical societies by partnering with ELM Exchange, Inc., and MRM Group, LLC, two Coverys educational companies that offer risk management and patient safety content—a natural complement to Med-IQ's clinical offerings. Med-IQ's Quality Improvement Institute will also continue to provide best-in-class solutions to support healthcare systems striving to incorporate quality improvement into their standard processes to reduce risk and improve care. Med-IQ, ELM Exchange, and MRM Group will operate independent of the Coverys underwriting companies.
"We are excited to join the Coverys organization and to be part of the Coverys education group. Med-IQ has established itself as a principal stakeholder in the global medical education business, and we believe that this alignment gives us the opportunity to expand our important
work by providing relevant and actionable solutions to all members of the patient care team, hospitals, health systems, and medical societies and associations," said Scott Weber, CEO and co-founder of Med-IQ.
Med-IQ's world-class collaboration partners, extensive industry relationships, diversified revenue base, and expertise in clinical content development across multiple therapeutic areas complement the strengths of Coverys' existing education companies, ELM Exchange and MRM Group. Together, these organizations create a solid foundation for improving quality patient care through use of education and quality improvement best practices.
Coverys (www.coverys.com) is a leading provider of medical professional liability insurance for physicians, hospitals, dentists, podiatrists, and advanced practice providers. Coverys gets consistent recognition for its superior financial performance by inclusion in the Ward's 50 for the past seven years. Coverys emphasizes proactive risk mitigation and patient safety programs that help clients anticipate, identify, and manage risk to reduce errors and improve outcomes.
Med-IQ, one of the most respected providers of continuing medical education (CME), inspires healthcare professionals through award-winning activities that deliver sophisticated outcomes- based educational designs with measurable results in professional competence and performance.
As a leader in the CME industry, Med-IQ has delivered many performance improvement and quality improvement initiatives that focus on continuous, data-driven education and performance reviews. These initiatives have demonstrated positive changes in healthcare professional performance, quality of care, and patient outcomes for which they have received national recognition.
Coverys media contact: Loren LeVasseur, 617.946.8665 Med-IQ media contact: Adam Glazer, 610.363.5863