Dive Brief:
- After selling its NextGen Healthcare Hospital Solutions Division two weeks ago, as reported by Healthcare Dive, Quality Systems plans to acquire HealthFusion, a developer of cloud-based EHRs for physician practices, for $165 million, with a potential contingency of up to $25 million.
- The acquisition is part of Quality Systems' ambulatory-focused strategy, according to Healthcare IT News. HealthFusion is the developer of MediTouch, used by 3,000 physician practices, ambulatory centers, and medical billing services.
- The transaction is expected to close by March 31, 2016, and fulfillment of the complete payment is based on HealthFusions 2016 product revenues projected at $43 million.
Dive Insight:
Dr. Sol Lizerbram, HealthFusion chairman, said, "This acquisition presents a significant opportunity to capitalize on the joint successes both companies have achieved to date in the ambulatory market segment."
Rusty Frantz, Quality Systems CEO and president, said in a statement, "The acquisition of HealthFusion is another example of our strategy to expand both client base and solution capabilities in our ambulatory market."