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Greenway Medical Technologies and Vitera Healthcare Solutions to Combine

September 23, 2013 News 10 Comments

Vista Equity Partners, which owns Vitera, will pay cash to acquire all outstanding shares of Greenway common stock for $20.35/share in a transaction valued at $644 million. The price represents a 62 percent premium to Greenway’s 90-day volume weighted average stock price and a 20 percent premium to Greenway’s closing share price the day before the merger agreement was signed.

It is anticipated that the Vitera and Greenway businesses will continue as Greenway Medical Technologies with the products and services of both Greenway and Vitera marketed under the Greenway brand. The combined entity will serve nearly 13,000 medical organizations and 100,000 providers.

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Currently there are "10 comments" on this Article:

  1. Its like two arena football teams merging to play in the nfl. Sum of their parts don’t equal a winning team. Vitera nor greenway ever got behind the cloud eightball. Two client server apps that will be beyond the budget of an ambulatory practice. Oh, let the fun integration
    projects begin.

  2. When Vista bought Sage they swept through and made everyone take an IQ test that has a very small % pass ratio. If you do not pass, you are managed out. This and other practices from the vista “play book” created a talent drain on the sales team that was so bad it crushed the momentum built by Lee Horner and his team. Message to Greenway folks, don’t walk…run for the door.

  3. Fire up the printing press …. Vitera employees ! You now get new business cards and stationary to go along with The Medical Manager, WebMD, Emdeon, Sage and now Vitera reams that are in the closets of some long time employees. Even though they were the buyer, the client base takes another second class citizen hit. Wake up folks there is no light at the end of the tunnel. They both have weak cloud solutions that cannot be bolted together to make a superior product.

    Did anyone tell the current Greenway employees about the upcoming Vista Aptitude Test and non- compete they will need to sign within a week of the deal consummating ? It’s coming folks …

  4. Wow! Complaining about having to take an IQ test? I think every company should require them … there’s no law (yet) that prohibits discrimination against stupidity, and there sure is enough of that to go around in this industry. If we enforced intelligence and pragmatism as part of vendor certification, we could easily eliminate 95% of the current vendors, and perhaps then allow the remaining 5% to focus on actually producing a product at a reasonable price point that provides intuitive user interface, interoperability, and meaningful data for the next generation of population health. Just a thought.

  5. Try as I might, I can’t seem to wrap my head around the strategy here. Unless of course I remember that Vista has little interest in creating real value for the market. much less the collective Vitera and Greenway client base.

    This doesn’t make sense as a technology buy — as nice as Greenway’s EHR might be, Intergy isn’t that far off and they’re both premium-priced client server solutions, making a migration to the Greenway product unlikely. This is especially true as the lion’s share of Sage/Vitera’s sales revenue leading up to and following the Vista acquisition came from a huge Medical Manager/PCN to Intergy migration campaign (i.e., those clients won’t pony up again).

    The only certain thing is that Vista will increase its recurring maintenance deck whilst imposing the same “best practices” on the Greenway organization that they imposed on the Sage Healthcare division. Greenway employees: that means a highly restrictive non-compete, followed by a series of painful RIFs and other unpleasantness. If you doubt it, or if your current Greenway bosses are saying otherwise, all I can say is: that’s how Vista does things and they just paid $644M for the right to do it again.

  6. Have the Vista guys even been to Carrollton aka Hazzard County? Can’t imagine they will find enough people to pass their IQ test within 50 miles. Even though they would probably keep the office open, I’m not sure how that could possibly be the HQ of a Vista company. For $644 million, did they buy Greenway or the entire county?

  7. Not sure what Vista was thinking on this one. We moved from Medical Manager to Intergy, and did our diligence before buying by looking at a number of Vitera competitors including Greenway. We thought Intergy was a stronger product, and after seeing Intergy 9.0 at the VIBE user conference (particularly the new Visit Note module), we’re convinced we made the right choice. I know people complain about Vitera service and support, but things have actually gotten a lot better since Vitera took over, and in our area, Greenway’s reputation is pretty mediocre. I hope Greenway / Vitera continue to invest in Intergy, ideally even selecting it as the go-forward platform. (our sales guy said that there are actually more people using Intergy EHR than Greenway)

    We also saw Vitera Stat at VIBE and were pretty impressed. It wasn’t robust enough for a practice of our size yet, but a truly web-based Practice Management / EHR product seems like the way of the future. I hope that product says around.

  8. I’ve never fully understood the negativity that Vitera’s (read: Sage/Emdeon/WebMD’s) seasoned employees have harbored against this company. Let’s get one thing straight: if you suck you shouldn’t have a job. Point blank. Hate to be blunt here folks, but I’ve had it with some people taking every opportunity to tear this company down. Bottom line: if you do not perform, you shouldn’t have a job. If you were a former employee and were let go, GET OVER IT. You were let go for a reason.

    If you’re a current employee and you’ve been here for ages and hate it here, LEAVE; WE DO NOT WANT YOU HERE. I can find dozens of people who would KILL to have a job and would more than likely slaughter you at productivity statistics. You’re slobs and now you’re getting treated like ones… and now you’re mad.

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