Dive Brief:
- Quality Systems has sold the hospital solutions division of its NextGen Healthcare subsidiary to QuadraMed Affinity, part of the Harris Operating Group of Constellation Software.Terms of the sale were not disclosed.
- QuadraMed is a healthcare software and service provider for hospitals, health systems and related facilities in the U.S., Canada, the U.K., and Saudi Arabia.
- Rusty Frantz, Quality Systems' president and CEO, said in a press statement, "This transaction underscores our commitment to further cementing our market position and emphasizing our core strengths within the ambulatory segment of healthcare delivery."
Dive Insight:
Jerry Canada, president of Harris Healthcare Group, QuadraMed's parent company, said in a statement, "The Hospital Solutions Division is an exciting addition to our HC IT portfolio. We look forward to working in the years ahead with the 100 plus organizations that are now part of our group," as reported in Healthcare IT News.
Quality Systems also reported its FY2016 Q2 results: Revenues reached $125.4 million, up 4% from last year, and net income reached $8.3 million versus $4.8 million for the same period last year, an increase of 75%.