Fabric (founded in 2021 as Florence) announced its strategic acquisition of GYANT, a conversational AI care assistant and patient engagement suite, enabling health organizations to automate patient navigation and scheduling. And by automating busywork and humanizing care, Fabric could improve multi-channel access and maximize existing clinical capacity across virtual and in-person care.
This deal comes on the heels of Fabric’s previous acquisition and integration of Zipnosis, the leader in asynchronous care – which solidifies the company’s commitment to fixing healthcare by streamlining the online and in-person patient-to-clinician experience.
Fabric acquired GYANT and the entire team in a significant all-cash deal–expanding Fabric to 130 employees. And Stefan Behrens, Co-founder and CEO of GYANT, will join the Fabric executive team, serving as chief strategy officer. Fabric has 70 enterprise health customers on its platform and is backed by Google Ventures, Salesforce Ventures, Thrive Capital, Box Group, Vast Ventures, and Atento Capital. Since coming out of stealth in the last year, Fabric accelerated from zero to passing eight figures in ARR.
Fabric was launched by Aniq Rahman, former president of Moat (sold to Oracle for $850 million), to solve one of the most significant constraints in healthcare: clinical capacity. And the current shortage of healthcare workers, projected to exceed 3.2 million by 2026, underscores the urgent need for a solution, especially amid deteriorating patient experiences. Fabric’s goal is to empower physicians and health organizations to provide more efficient care and better patient access, which maximizes clinical capacity and improves health outcomes.
This is how Fabric works:
1.) Quickly identify patient symptoms with conversational AI and navigate patients to ideal care settings, including scheduling primary care visits and routing to urgent and virtual care.
2.) Gather patient symptoms and condition-specific information with intelligent adaptive interviews, reducing wait times to seven minutes and provider work time to as little as 89 seconds.
3.) Drive clinical efficiency through mobile intake forms and automated clinical symptom gathering, reducing documentation time and total visit length.
4.) Enhance patient satisfaction and prevent Leaving Without Being Seen (LWBS) by providing visit progress updates in real-time and configurable FAQs.
5.) Shorten the total length of stay in emergency rooms by digitizing the discharge process, enabling patients to attest and access their care plan with a single click, eliminating wait times for staff and printed paperwork.
6.) Automate follow-ups to reduce readmissions, drive system loyalty, and increase PCP attachment with patient self-scheduling via an integrated organization-specific provider directory.
KEY QUOTES:
“Our teams have already been jointly serving multiple customers. We are excited to join forces with a long-standing partner who shares our mission to improve healthcare for patients and providers.”
– Stefan Behrens, GYANT Co-founder and CEO
“We are expanding upon our existing integrations with GYANT’s AI technology and engagement solutions to significantly increase clinical capacity and improve patient access. Together, we dramatically lower the time it takes for a patient to connect with a provider, complete a visit, and start feeling better–while driving clinical and operational efficiency.”
– Aniq Rahman, Founder and CEO of Fabric
“Fabric is a true partner in reshaping our digital patient experience. The new Fabric combined offering aligns with our organizational priority to consolidate point solutions and create operational efficiencies while expanding access to care for our patients. As an existing partner of both Fabric and GYANT, we are thrilled to continue our partnership with Fabric to reimagine care delivery at OSF using its pioneering hybrid care enablement platform.”
– Jennifer Junis, SVP Digital Health-OSF OnCall
