Healthcare data analytics company MedAssurant today announced that it has changed its name to Inovalon. From the press release:
Inovalon is a newly coined term created by combining innovation, value, and action. Within the name are also key elements of the words nova and valor. ‘Innovation’ is not just a patented formula, but a signature form. It is built in causal sequence on three principles: Insight, Intervention, and Impact. ‘Nova’ conjures images of great energy and passion bursting forth, intensity of light, and a source of life. ‘Value’ is a cornerstone of the Company’s offerings and a commitment to its clients. ‘Valor’ conveys bold determination and integrity. And ‘On’ communicates a strong call to action.
OK, that’s a mouthful, and some branding consultant probably got paid handsomely to come up with that.
Thing is, Inovalon is based in Bowie, Md., near Washington, D.C. Right there in the same metro area, in Falls Church, Va., is integrated delivery network Inova Health System. (My educated guess is that the “nova” part comes from the fact that Inova is in Northern Virginia, often referred to as NoVa.) Will we find confusion in the marketplace? Worse, will Inovalon soon be getting a call from Inova’s lawyers?