Roper Chairman, President, and CEO Brian Jellison was quoted in the announcement as saying, “Sunquest meets all of Roper’s key acquisition criteria and is an ideal fit with both our Medical and Software platforms. The business is the market leader in software solutions for the critically important healthcare provider laboratory market. We expect Sunquest to benefit in all economic environments from very favorable market forces – an aging population, expansion of anatomic pathology, and the need for reduced healthcare costs and improved quality of care. Sunquest’s software and application engineering capabilities deliver an outstanding return on investment for their customers. The company has attractive cash return characteristics and generates significant recurring revenue through long-term customer relationships and very high retention rates.”
Jellison also stated that the company will continue to operate under the Sunquest name with full continuity of personnel. Closing is expected within 30 days.
Sarasota, FL-based Roper Industries is an industrial manufacturer whose medical units include measurement systems, medical devices, and imaging solutions. Sunquest is owned by an investor group that includes Huntsman Gay Global Capital and Vista Equity Partners.