You may have seen the recent announcement that IMO has been acquired by THL Partners. A business like ours requires new investment to scale in the way we want to, so this is an exciting time for IMO and our customers. This transition will be seamless, which ensures we can continue providing top-notch client service. At the same time, this investment positions IMO to bring innovative products to market more quickly, while continuing to bring in new, top-tier talent.
Over the last few years, IMO has been making a concerted effort to move into the non-provider market in a meaningful way. This is no way means we are moving away from our historical terminology products that serve as the foundation of everything we do – we will continue to enhance our clinical terminology products for our EHR partners. However, we believe that leveraging our foundation – and the five million-plus clinical terms that we manage – uniquely positions us to impact other areas of healthcare. For example, IMO’s focus on granular, high-quality clinical data contributes significant value to companies in the life sciences market. IMO’s technology can materially impact real world data collection and analysis, which could accelerate drug research and reduce the cost of clinical trials.
IMO has already started putting a stake in the ground around data quality and analytics, one of the most critical issues facing the industry today. And the COVID-19 pandemic only highlighted that it’s no longer acceptable for us not to improve clinical data quality. IMO is sitting right at the crossroads of that change. And we are already working with health information exchanges, health IT companies, hospitals, research institutions, and other organizations to use technology to improve data quality.
IMO has been around for three decades, but has largely stayed behind the scenes. At times, this means we can be mistaken for a startup. But the immense growth potential we see, the talent of our young team, and the innovative spirit that our clients and our people expect from us makes us more like a hybrid between a startup and a brand-name industry player – and that’s how we like it. I was asked recently about the original vision for the company, and I shared our founder’s idea that IMO would help doctors speak doctor. IMO accomplished that goal and so much more. I can’t wait to see what we can do to help transform healthcare in the next three decades by building on the incredible foundation we have.