Vitera Healthcare Solutions has announced the acquisition of Greenway Medical Technologies. Vitera's parent company, Vista Equity Partners, will purchase all outstanding Greenway common stock in an all-cash transaction valued at $644 million.
The combined health IT vendor is expected to operate as Greenway Medical Technologies, with products and services from both of the former companies marketed under the Greenway brand. The new company will serve about 13,000 medical organizations and 100,000 providers.
"This transaction presents an opportunity to offer even greater value to our customers," said Matthew J. Hawkins, president and CEO of Vitera, in the news release. "Combining our business with Greenway Medical Technologies demonstrates our intense focus on growth and our commitment to provide current and prospective customers with proven, integrated and easy-to-use solutions they need to grow profitably, increase practice efficiencies and improve patient outcomes in this ever-changing healthcare environment."
Tee Green, president and CEO of Greenway, said "We are excited that the transaction will accelerate the execution of our clearly defined strategy of leading the electronification of healthcare, engaging consumers in the management of their own health and continuing to partner with providers to develop the tools to improve population health," in the release.
More Articles on the Health IT Market:
Epic, Cerner, InterSystems CEOs Make Forbes' List of the 400 Richest People in America
New $175M VC Fund Will Focus on Health IT
Successful Irish Health IT Firm Comes to U.S.