A local healthcare safety nonprofit is restructuring part of its operations as it looks to sharpen its focus on patient safety and system reliability, according to reporting from The Philadelphia Inquirer.
ECRI, headquartered at 3959 Welsh Road in Willow Grove, announced it is spinning off its supply chain technology division into a separate business. The move is being backed by Accel-KKR, a private equity firm that specializes in technology investments. Financial terms of the deal were not disclosed.
The newly independent business, known as Staritas, provides tools that help hospitals and healthcare systems track product recalls and manage supply spending. According to the company, its systems are used nationwide and are credited with helping providers save billions annually on everything from basic medical supplies to high-cost equipment.
ECRI officials said the decision to separate the business will allow the nonprofit to concentrate more heavily on its core mission of improving healthcare safety and reducing risks within medical systems.
Founded more than six decades ago, ECRI is widely recognized for its annual list of top health technology hazards. In its most recent report, the organization highlighted concerns over the misuse of artificial intelligence chatbots in healthcare, warning that inaccurate or misleading information could pose risks to patients.
While ECRI will retain a stake in the new company, officials have not released details about how the transition will affect staffing or how much of the organization’s previous revenue came from the division.
