Home » News » Currently Reading:

CPSI Will Acquire Healthland for $250 Million

November 25, 2015 News No Comments

image

Computer Programs and Systems, Inc. (CPSI) announced this morning that it will acquire its main small-hospital technology competitor Healthland Holding Inc., which includes Healthland Inc., American HealthTech, and Rycan Technologies. Healthland has 350 hospital customers, while American HealthTech serves 3,300 skilled nursing facilities. Rycan has 290 hospital customers of its revenue cycle management system and was acquired earlier this year by Healthland.

CPSI will pay $250 million, 65 percent in cash and 35 percent in stock. The company will also take on $150 million in funded debt to complete the transition.

CPSI Board Chair David Dye will take the role of chief growth officer, TruBridge President Chris Fowler will become COO, and Matt Chambless will be promoted to CFO. Healthland President Chris Bauleke will remain in that role.

CPSI shares rose sharply on the news Wednesday, but are still 26 percent off their 52-week high. 



HIStalk Featured Sponsors

     







Text Ads


RECENT COMMENTS

  1. Agreed, The VA is using CCDAs today for outbound communication and they started with C32s back in 2012. Looked at…

  2. Part of my attitude relates to an experience I had. And this was within a single HIS. I wanted to…

  3. For what it's worth, the VA currently releases C-CDA (or HITSP C-32...my memory fails me) via eHealth Exchange and has…

  4. Unfortunately, I can't disagree with anything you wrote. It is important that they get this right for so many reasons,…

  5. Going out on a limb here. Wouldn't Oracle's (apparent) interoperability strategy, have a better chance of success, than the VA's?…

Founding Sponsors


 

Platinum Sponsors


 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gold Sponsors