- The acquisition enables a solution that drives 58% higher patient engagement, 10% reduction in hospital readmission rate, and reduces call center wait times by 35%
- Expanded Fabric capabilities address clinical capacity constraints through a solution that is 10x faster than traditional virtual care and speeds up clinical processes, reducing left-without-being-seen rates by 33% in the ER
New York, NY (January 31, 2024) — Fabric, founded in 2021 as Florence, today announced its strategic acquisition of GYANT, a conversational AI care assistant and patient engagement suite, enabling health organizations to automate patient navigation and scheduling. By automating busywork and humanizing care, Fabric can improve multi-channel access and maximize existing clinical capacity across virtual and in-person care. This addition comes on the heels of Fabric's previous acquisition and integration of Zipnosis, the leader in asynchronous care, solidifying the company's commitment to fixing healthcare by streamlining the patient-to-clinician experience both online and in-person.
Fabric acquired GYANT and their entire team in a significant all-cash deal–expanding Fabric to 130 employees. 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 has accelerated from zero passing 8 figures in ARR.
Fabric was founded by Aniq Rahman, former president of Moat (which was sold to Oracle for $850 million), to solve one of the biggest constraints in healthcare: clinical capacity. 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 mission is to empower physicians and health organizations to provide more efficient care and better patient access—maximizing clinical capacity and improving health outcomes.
"Our teams have already been jointly serving multiple customers," said Stefan Behrens, GYANT Co-founder and CEO. "We are excited to join forces with a long-standing partner who shares our mission to improve healthcare for patients and providers."
“We are expanding upon our existing integrations with GYANT’s AI technology and engagement solutions to significantly increase clinical capacity and improve patient access,” said Aniq Rahman, Founder and CEO of Fabric. “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.”
Fabric solutions provide next-level efficiency and consumer experiences that attract progressive provider organizations and innovators, including OSF Healthcare.
"Fabric is a true partner in reshaping our digital patient experience," said Jennifer Junis, SVP Digital Health-OSF OnCall. "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."
How Fabric works:
- Navigates Patients from Symptom Onset: 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.
- Fast Tracks Virtual Visits: Gather patient symptoms and condition-specific information with intelligent adaptive interviews, reducing wait times to 7 minutes and provider work time to as little as 89 seconds.
- Expands Clinical Capacity: Drive clinical efficiency through mobile intake forms and automated clinical symptom gathering, reducing documentation time and total visit length.
- Increases Transparency: Enhance patient satisfaction and prevent Leaving Without Being Seen (LWBS) by providing visit progress updates in real-time and configurable FAQs.
- Drives Throughput: 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.
- Improves Health Outcomes and Access: Automate follow-ups to reduce readmissions, drive system loyalty, and increase PCP attachment with patient self-scheduling via an integrated organization-specific provider directory.
About Fabric
Fabric is a health tech company that powers healthcare providers to move faster, work smarter, and deliver better care through its care enablement system. The system offers three solutions: In-Person Care Suite, Virtual Care Suite, and Engagement Suite. Leveraging conversational AI and intelligent adaptive interviews, Fabric unifies virtual and in-person care across intake, triage, routing, and treatment while automating workflows for staff. Built by a team of physicians and clinical informaticists, Fabric protocols uphold excellence in care quality while offering omnichannel access for patients. The results enable clinicians to work 2-10 times faster (dependent on setting), decrease call center volume by 15%, and increase utilization of unfilled visit blocks. Some of Fabric’s customers include Luminis Health, OSF HealthCare, MUSC Health, and Intermountain. Fabric is backed by Thrive Capital, GV (Google Ventures), Salesforce Ventures, Vast Ventures, BoxGroup, and Atento Capital.
About GYANT
GYANT’s empathic, intuitive virtual assistant guides patients through the complexity of their healthcare journey. With clients throughout the United States, GYANT partners with Integrated Delivery Networks and payers to deploy its technology on their websites, mobile apps, patient portals, and within call centers, empowering patients and accelerating access to care. GYANT’s conversational AI guides patients from the digital front door through their entire clinical journey by integrating deeply into clinical workflows and electronic health records. The result is a higher level of efficiency that improves patient health outcomes while reducing administrative burden for health system staff. Some of GYANT’s customers include Cleveland Clinic, Intermountain Healthcare, Highmark Health, OSF HealthCare, and Geisinger.