Jon Krieger | Head of Healthcare IT Investment Banking | 212.809.1413 | jkrieger@tmcapital.com
M&A | Divestitures | Financings
Week Ended 2/12/10
Healthcare IT M&A

Quality Systems, the parent of NextGen Healthcare, acquired Opus Healthcare Solutions, a provider of an inpatient system for clinical documentation, order management, clinical data repository and a laboratory information system

MAXIMUS, a provider of government services, acquired DeltaWare, a provider of health administration management systems for the government healthcare market

Healthcare IT Financing

PatientSafe Solutions, a provider of patient safety and workflow management solutions, raised $30M from TPG Biotechnology Partners

   

Phytel, a provider of a registry that uses evidence-based chronic and preventive care protocols to identify and notify patients due for service, raised $14.2M from Polaris Venture Partners, Caris, and LAH Investments

   
Healthcare News

Federal officials said almost $1 billion of the more than $20 billion in available funding from the American Recovery and Reinvestment Act will be devoted to investments in health care information technology; more than $750 million will go to regional extension centers and health information exchanges to promote the meaningful use of health IT, and more than $225 million will be used to support health IT training

 

KLAS, in a recent study, validated 89 live health information exchanges, technologies designed to share patient data that is used by doctors; the study disclosed that Axolotl, Epic and Medicity possess the largest market shares in the health information exchange category

 

Mediware, a provider of medication and blood bank management software, reported its second quarter revenue grew by 8% to $10.8M, which was driven by significant new customer contracts and its acquisition of Healthcare Automation and Advantage Reimbursement; this was the sixth consecutive quarter of both revenue and earnings growth

 

Sequel Systems, a provider of ambulatory software, announced that it will guarantee its electronic health record application will meet meaningful use requirements; for any period during which the software is modified to meet certification criteria, the company will reimburse providers their monthly support fees; other vendors offering similar guarantees include Allscripts, athenahealth, ChartLogic, e-MDs, eClinicalWorks, GE Healthcare, Ingenix, Medsphere Systems, NextGen, Noteworthy Medical, Practice Fusion and SourceMedical

 

In his speech at the 18th national HIPAA Summit in Washington DC, David Blumenthal, the national coordinator for health information technology, stated that electronic health records will become “an absolute requisite” within a few years as they will become a “core competency for physicians”

YTD Healthcare IT Index
Note: TM Capital Middle-Market Healthcare IT Index: ATHN, CPSI, ECLP, HMSY, MDAS, OMCL, STRM and TRCR
 
Weekly Healthcare IT Index
Note: TM Capital Middle-Market Healthcare IT Index: ATHN, CPSI, ECLP, HMSY, MDAS, OMCL, STRM and TRCR
 
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TM Capital Corp. is an independent investment banking firm based in New York, Boston and Atlanta, which has completed over 200 mergers, acquisitions and financings with a combined value in excess of $11 billion for its global roster of clients. For 20 years, TM Capital has provided its client companies with the expertise, resources and focus necessary to structure, negotiate and close strategic transactions. TM Capital is a member firm of M&A International Inc., the world's leading alliance of mid-market investment banks with over 600 professionals in 43 offices spanning 41 countries.



 

    TM Capital HIT Weekly - Week Ended 2/12/10

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