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Azalea Health Receives $10.5 Million in Series B Funding From Kayne Partners Fund

ATLANTA, GA–(Marketwired – Jul 15, 2016) – Azalea Health announced today that it has closed its $10.5 million Series B round of funding. The round was led by Kayne Partners, the growth private equity group of Kayne Anderson Capital Advisors, L.P., an alternative investment firm managing over $22.5 billion in assets. Existing Azalea investor Intersouth Partners, a venture capital firm in Durham, NC, also participated in the round.

Azalea Health is a leading provider of fully integrated, technology-enabled healthcare solutions and Revenue Cycle Enhancement™ services for practices of all sizes and most specialties. “The additional capital allows us to rapidly advance organic growth and consolidate the market through acquisition,” said Justin Pierce, Vice President of Sales.

“We are very pleased with this opportunity to partner with Kayne Anderson, a like-minded, technically focused equity provider that has a strong track record within the health IT space,” said Baha Zeidan, CEO and Co-Founder.

“Now more than ever, hospitals and physicians need tools that deliver a strong ROI, streamline workflow, and are easy to adopt and use,” Zeidan continued. “With payment reforms focused on achieving outcomes and lower costs, healthcare organizations require a comprehensive end-to-end platform that supports every aspect of their practice.”

“Kayne strives to identify companies with unrivaled competitive advantages in fast-growing industries which are led by exceptionally strong management teams. Azalea is solving unique healthcare access and delivery needs in the U.S. rural healthcare market. We recognize this is a significant growth opportunity for Azalea and believe they are uniquely positioned to take advantage of these opportunities,” said Nishita Cummings, Partner, Kayne Partners. Cummings will join the board of Azalea Health.

Azalea Health focuses on rural markets that are traditionally underserved by healthcare technology. The company is able to cost-effectively meet the needs of community and critical access hospitals, including Federally Qualified Health Centers (FQHCs) and Rural Health Clinics (RHCs), as well as their associated physician practices.

Approximately 20 percent of the U.S. population lives in rural areas, but only 10 percent of U.S. physicians practice there. This disparity creates unique healthcare access and delivery challenges for patients, caregivers and physicians, ultimately resulting in significant costs to the healthcare system.

Azalea Health is the first company to fully integrate telehealth capabilities within its technology-enabled solutions platform, which includes integrated electronic health records (EHR), practice management, electronic prescribing, interoperability services, personal health records, patient portal, Azalea M™ mobile platform integrated with Apple® HealthKit and Revenue Cycle Performance™ services.

Azalea Health, established in 2008, is headquartered in Atlanta, GA, and serves customers nationwide. By using true cloud-based technology, Azalea eliminates the need to manage hardware and software, while reducing the complexity and cost of EHR technology.

Victor Culiuc and Healthios Capital Markets LLC served as exclusive financial advisor to Azalea.

About Azalea Health
Azalea Health is a leading provider of fully integrated, technology-enabled healthcare solutions and managed services for practices of all sizes and most specialties. Azalea’s comprehensive portfolio includes integrated electronic health records, practice management, electronic prescribing, interoperability services, personal health records, patient portal, telehealth, Azalea M™ mobile platform integrated with Apple® HealthKit, as well as Revenue Cycle Performance™ services. The Azalea platform also provides tools and resources to help customers meet their Meaningful Use and ICD-10 requirements, as well as strategies to navigate accountable care and alternative payment models. To learn more, please visitwww.AzaleaHealth.com, call (877) 777-7686 or connect via social media on Facebook, Twitterand LinkedIn.

About Kayne Partners
Kayne Partners is a leading provider of capital and connections to rapidly growing companies in North America. Since its inception more than a decade ago, it has invested over $600 million in platform investments and add-on acquisitions. Kayne Partners seeks to partner with driven entrepreneurs as a non-control minority investor and provide transformative capital to these high growth companies. Kayne Partners is the growth private equity group of Kayne Anderson Capital Advisors, L.P. www.kaynepartners.com

About Kayne Anderson
Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading independent alternative investment management firm focused on niche investing in upstream oil and gas companies, energy infrastructure, specialized real estate, middle market credit, and growth private equity. Kayne’s investment philosophy is to pursue niches, with an emphasis on cash flow, where its knowledge and sourcing advantages enable it to deliver above average, risk-adjusted investment returns. Kayne manages over $22.5 billion in assets (as of 6/30/16) for institutional investors, family offices, high net worth and retail clients and employs nearly 300 professionals in eight offices across the United States. The firm is headquartered in Los Angeles with offices in Houston, New York City, Chicago, Denver, Dallas, Atlanta and Boca Raton. For more information, please visit our website: www.kaynecapital.com.

July 15, 2016 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

CPSI to Acquire Healthland for $250 Million and Announces Expansion of Its Senior Management Team

MOBILE, Ala.–Computer Programs and Systems, Inc. (NASDAQ:CPSI), a leading provider of healthcare information solutions to rural and community hospitals, today announced that it has entered into a definitive agreement to acquire Healthland Holding Inc. and its affiliates, Healthland Inc., American HealthTech, Inc. and Rycan Technologies, Inc. The acquisition will strengthen CPSI’s position in providing healthcare information solutions in the markets it serves and will provide new growth markets for the combined company. CPSI also announced the expansion of its senior management team to lead the Company going forward.

Healthland provides electronic health records (EHR) and clinical information management solutions to over 350 hospital customers. American HealthTech is a provider of clinical and financial solutions in the post-acute care space, serving over 3,300 skilled nursing facilities. Rycan offers SaaS-based revenue cycle management workflow and automation software to over 290 hospital customers.

Transaction Highlights:

  • Strengthens CPSI’s position in providing healthcare information systems to community healthcare organizations with approximately 1,200 combined hospital customers;
  • Introduces CPSI to the post-acute care market;
  • Expands the products and capabilities of TruBridge with the addition of Rycan and its suite of revenue cycle management software products; and
  • Immediately accretive to adjusted earnings per diluted share.

The combined company is projected to have annual revenues of approximately $300 million in 2015 and more than 1,900 employees. The transaction is expected to be more than 35% accretive to CPSI’s adjusted earnings per diluted share in 2016 and more than 50% accretive in 2017. Adjusted earnings, a non-GAAP financial measure, include a cash tax benefit from the acquisition and exclude share-based compensation expense, one-time transaction costs, and acquisition-related amortization and deferred revenue adjustments.

“We are excited to welcome Healthland into CPSI’s family of healthcare IT companies,” said Boyd Douglas, president and chief executive officer of CPSI. “Healthland’s history tracks a very similar course to that of CPSI, as we both have over 30 years of experience in the healthcare IT space, and we share a strong commitment to the improvement of community healthcare. The combination of these two long-standing companies creates in CPSI a broad product portfolio across the continuum of care. Together, we will service a client base of approximately 1,200 acute care facilities and more than 3,300 post-acute care facilities, including Healthland’s American HealthTech subsidiary. As the healthcare industry transitions to value-based reimbursement, our combined solutions will connect communities, patients and providers to facilitate more effective population health management, better patient engagement, and the advancement of quality and care coordination. In addition to an expanded client and solution base, the acquisition will also create synergies in our healthcare services offerings to address the acute and post-acute care markets’ demand for improved financial and operational performance. There is no doubt that the addition of Healthland, along with American HealthTech and Rycan, will not only improve CPSI’s offerings in the healthcare IT market, but will provide our combined company with greater opportunities for growth and significantly deepen our knowledge, resources and experience base. We are confident this combination will allow us to continue to be a leading innovator with greater benefits for our customers and the communities they serve, both now and in the years to come.”

Chris Bauleke, chief executive officer of Healthland, stated, “With the ongoing transformation in community healthcare, this combination will enable us to deliver solutions faster for our clients and better scale our development investment and customer support across the many communities we serve. Delivering meaningful solutions for our customers as they prepare for the transition into value-based payment models will continue to be a priority.”

Bauleke added, “Healthland’s acquisitions of American HealthTech, a provider of EHR solutions for post-acute care facilities, in 2013, and Rycan, a revenue cycle solutions company, in April 2015, provide immediate benefits to the markets and solutions that the combined company can leverage.”

Following the acquisition, support for Healthland’s core platforms, Classic and Centriq, will remain in place. Current implementations will continue, and CPSI plans to support and invest in the Centriq platform for at least the next seven years. The Healthland Classic platform will continue to be supported for a minimum of two years, as outlined by Healthland management at their recent Connect 15 User Conference.

Transaction Summary

The contemplated total aggregate consideration to be paid by CPSI is $250 million, payable approximately 65% in cash and 35% in CPSI common stock, subject to certain adjustments at and after closing, as provided for in the merger agreement. The completion of the transaction is subject to review under The Hart-Scott-Rodino Antitrust Improvements Act of 1976 and the satisfaction of other customary closing conditions, and is targeted to close in 2015.

To finance the transaction, CPSI will use cash available on its balance sheet, $150 million of funded debt from a new senior secured credit facility and shares of its common stock. CPSI and Regions Bank have executed a committed financing letter for the new senior secured credit facility that CPSI intends to enter into at the time of closing the transaction.

CPSI’s financial advisor in this transaction was Allen & Company LLC and Maynard, Cooper & Gale, P.C. and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal counsel to CPSI. Shearman & Sterling LLP served as legal counsel to Healthland.

CPSI’s Management Team

CPSI also announced a series of changes that expand its management team, effective immediately. David Dye, in addition to continuing to serve as chairman of the board, has assumed the new role of chief growth officer of CPSI and will be focused on driving growth in all segments of CPSI’s business. Chris Fowler, president of TruBridge, will assume the additional role of chief operating officer of CPSI and will be responsible for managing the integration of Healthland and CPSI. Matt Chambless, currently Director of Financial Reporting, is assuming the role of chief financial officer of CPSI.

“Having David Dye focus his experience, industry knowledge and leadership on growth is an exciting opportunity for our company, particularly as we add the Healthland companies to our business,” added Douglas. “Chris Fowler is a proven leader in our company and the right person to lead our operations and the integration of Healthland and CPSI, and Matt Chambless has earned the confidence of our management team and our Board.”

“I am excited about my role as chief growth officer and the opportunity to work with our team to expand our customer base and offer additional products and services in the markets we serve,” noted Dye, who like Boyd Douglas has been with CPSI for over 25 years.

CPSI also announced that Chris Bauleke has agreed to stay on as president of Healthland. Douglas added, “Having Chris as part of our team will be very valuable as we work to integrate these two businesses and position the combined company for future growth. Chris is an experienced executive and has been instrumental in positioning Healthland to compete in a dynamic and growing market. We believe that we have the right team to lead our company into the future and take advantage of the additional opportunities to serve our current customers and expand our service offering. With the addition of the Healthland companies, we also believe it is the right time to expand our senior leadership team and promote some of our younger managers.”

Conference Call

CPSI will discuss the transaction in more detail during a conference call Wednesday, November 25, 2015, at 10:30 a.m. ET. The Company will also provide a slide presentation in connection with the conference call and webcast. A 30-day online replay will be available approximately one hour following the conclusion of the live webcast. To listen to the live webcast or access the replay, visit the Company’s website, www.cpsi.com.

About Healthland

Healthland is a leading provider of integrated technology solutions to rural community and critical access hospitals. Software and services from Healthland, including electronic health records (EHRs), help customers share patient information across care settings to coordinate treatment, improve patient outcomes, and drive patient satisfaction. Healthland is the parent of Mississippi-based American HealthTech, one of the nation’s largest providers of financial and clinical technology solutions in post-acute care. Healthland is headquartered in Minneapolis, Minn., with offices in its founding rural community of Glenwood, Minn. More information is available at www.healthland.com.

About CPSI

CPSI is a leading provider of healthcare solutions for community hospitals. Founded in 1979, CPSI is the parent of two companies – Evident, LLC and TruBridge, LLC. Evident provides comprehensive EHR solutions for community hospitals. TruBridge focuses exclusively on providing business, consulting, and managed IT services to community healthcare organizations, regardless of their IT vendor. For more information, visit www.cpsi.com, www.evident.com, or www.trubridge.com.

November 25, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Patient IO to Expand Care Coordination Platform with Investment from athenahealth

 Company Joins athenahealth’s “More Disruption Please” Accelerator Program 

November 10, 2015, Austin, Texas  – Patient IO, the only care coordination solution that can be integrated with virtually any healthcare software system, today announced a strategic investment by athenahealth® to expand Patient IO’s platform through athenahealth’s More Disruption Please (MDP) program. Today, healthcare organizations depend on Patient IO to coordinate care for tens of thousands of patients. athenahealth’s investment will be used to grow Patient IO’s platform and drive adoption across athenahealth’s growing network of more than 72,000 healthcare providers.

Patient IO helps healthcare organizations coordinate care and engage with patients in-between visits, enabling more efficient, personalized care management and improved patient outcomes. By providing tools that empower patients to take a more active role in their care and treatment, Patient IO has become a go-to solution for managing chronic illness, reducing readmissions and reducing unnecessary doctor visits.

“Patient IO’s API-first architecture is built for integration. Its best-in-breed technology, combined with the team’s proven track record, made this a great investment and partnership for us,” said Kyle Armbrester, athenahealth’s Chief Product Officer.  “Integrating the Patient IO platform with athenaNet® will accelerate our product roadmap and enable us to better meet our clients’ patient engagement, chronic care management, and population health needs. We’re thrilled to welcome Patient IO to the MDP portfolio.”

“Patient IO already plays a critical role in helping healthcare organizations transition into value-based care by giving them engagement tools that make patients chief players in their own care,” said Jason Bornhorst, CEO of Patient IO.  “Providers can track patient adherence in-between visits and have patient-reported outcomes piped into their existing EHR. It’s all about streamlining the process of care, and this investment helps us expand our solution across the athenahealth network.”

For patients, Patient IO’s patent-pending technology turns a care plan into simple daily tasks, making it easy for patients to follow treatment-specific instructions, securely message with their care team, and read educational content on their smartphone or desktop. Patients can also sync connected wearables and devices with Patient IO to complete tasks automatically and provide additional insights for their provider.

Patient IO has shown considerable growth since raising $1.5M in a seed round led by Mercury Fund, with participation from Techstars Ventures, RPM Ventures & Geekdom Fund. Patient IO will use this new funding to expand product development. As part of the investment, Patient IO will be joining athenahealth’s MDP Accelerator program, which recently launched its third location in Austin, TX.

About Patient IO

Patient IO is the first and only care coordination solution that can be integrated with virtually any healthcare software system, including EHRs and population health management programs. Headquartered in Austin, TX, Patient IO’s mission is to help healthcare organizations transition into value-based care by helping them coordinate care between patient visits.

To learn more, please visit: http://www.patientio.com

About athenahealth’s ‘More Disruption Please’ Program

Through the ‘More Disruption Please’ program, athenahealth is accelerating high-value innovation via the cloud, offering new services to help providers thrive in the face of industry change and pressure.  MDP partners with innovators, entrepreneurs, companies, and individuals who are passionate about disrupting established approaches in healthcare that simply aren’t working, aren’t good enough, or aren’t advancing the industry. All MDP accelerator investments receive seed funding, access to free office space, mentorship, and access to athenahealth’s growing network of 72,000 providers. To learn more about athenahealth’s MDP program and partnership opportunities please visit www.athenahealth.com/disruption.

November 10, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Quality Systems, Inc. Announces Agreement to Acquire HealthFusion Holdings, Inc.

Acquisition to accelerate cloud-based development and delivery of QSI/NextGen Healthcare core applications and elevate commitment to ambulatory services sector with addition of clients

IRVINE, Calif.–(BUSINESS WIRE)– Quality Systems, Inc. (NASDAQ: QSII), announced today an agreement to acquire HealthFusion Holdings, Inc. (HealthFusion) for $165 million plus potential additional contingent consideration of up to $25 million.

Based in San Diego, Calif., HealthFusion is a privately held developer of web-based, cloud computing software for physicians, hospitals and medical billing services. HealthFusion’s 100 percent cloud-based MediTouch® platform is currently used by over 3,000 physician practices, hospital ambulatory centers and medical billing services (totaling more than 6,000 subscribers). The company has historically achieved meaningful double-digit annual revenue growth rates, with a recent annualized revenue pace exceeding $30 million. The contingency for full payment of the earn-out is based on the generation of $43 million of HealthFusion product revenues during calendar 2016.

The transaction is subject to customary closing conditions and is expected to be completed during the Company’s current fiscal year, which ends March 31, 2016. Quality Systems expects this transaction to be accretive to its non-GAAP earnings in the first full year following the acquisition.

The Company has secured $200 million in fully committed financing from J.P. Morgan and U.S. Bank. At closing of the transaction, the Company expects to fund approximately $115 million of the consideration via this credit facility and the remainder through excess cash on hand.

“The acquisition of HealthFusion is another example of our strategy to expand both client base and solution capabilities in our ambulatory market. We look forward to sharing this acquisition as a part of our broader strategy with our client base at our annual User Group Meeting in Las Vegas starting this Sunday, November 1,” said Rusty Frantz, president and chief executive officer at Quality Systems, Inc.

“HealthFusion brings an extremely intuitive, fully mobile, cloud-based solution that affords smaller groups of physicians and other providers a clean EHR experience within a fully integrated suite of solutions for their practice. Over time, we will focus on expanding the platform to satisfy the needs of practices of increasing size and complexity. We will also look to provide some of our broader service capabilities to the HealthFusion client base,” Frantz explained.

Dr. Sol Lizerbram, HealthFusion chairman, added: “We believe our SaaS-based healthcare technology products will prove beneficial to Quality Systems’ NextGen Healthcare service offering as the Company advances its cloud solutions capabilities. This acquisition presents significant opportunity to capitalize on the joint successes both companies have achieved to date in the ambulatory market segment.”

J.P. Morgan Securities LLC is acting as financial advisor and Latham & Watkins LLP is serving as legal counsel to Quality Systems. TripleTree is acting as exclusive financial advisor and Wilson Sonsini Goodrich & Rosati is serving as legal counsel to HealthFusion.

About HealthFusion

Founded in 1998 by three entrepreneurs including two primary care physicians, San Diego, Calif.-based HealthFusion supports over 6,000 ambulatory subscribers in more than 30 specialties spread across all 50 states and employs 140. HealthFusion develops web-based, cloud computing software for physicians, hospitals and medical billing services. HealthFusion’s fully integrated solution includes MediTouch EHR (Electronic Health Record and Patient Portal) and MediTouch PM (Practice Management and Claims Clearinghouse).

MediTouch EHR was designed for use on mobile tablets such as the iPad, and offers a unique array of features that facilitate adoption of EHR technology. Each integrated module of the MediTouch platform natively supports the iPAD® and the company is a certified Apple Developer. All MediTouch modules function seamlessly together including the EHR, medical billing, practice management, collections, patient portal, and clearinghouse.

To learn more visit HealthFusion.com or follow HealthFusion on Facebook, Twitter and YouTube.

About Quality Systems, Inc.

Irvine, Calif.-based Quality Systems, Inc. and its NextGen Healthcare subsidiary develop and market computer-based practice management, electronic health records and revenue cycle management applications as well as connectivity products and services for medical and dental group practices. Visit www.qsii.com and www.nextgen.com for additional information.

October 30, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Quality Systems, Inc. Board of Directors Approves Sale of NextGen Healthcare Hospital Solutions Division

IRVINE, Calif.–(BUSINESS WIRE)– Quality Systems, Inc. (NASDAQ: QSII), announced today it has sold the Hospital Solutions Division of its NextGen Healthcare subsidiary to QuadraMed Affinity Corporation (“QuadraMed”), which is part of the Harris Operating Group of Constellation Software Inc.

QuadraMed provides healthcare software and services primarily used in hospitals, health systems and related facilities throughout the U.S., Canada, the United Kingdom, and Saudi Arabia.

“The divestiture of our Hospital Solutions Division enables Quality Systems and NextGen Healthcare to focus on our core, ambulatory business, which includes one of the largest installed bases in the industry. This transaction underscores our commitment to further cementing our market position and emphasizing our core strengths within the ambulatory segment of healthcare delivery,” said Rusty Frantz, Quality Systems’ president and CEO.

Additional details will be communicated to NextGen Healthcare Solutions clients as well as employees as part of a seamless transition to QuadraMed.

The Spartan Group LLC provided financial advisory services to Quality Systems in this transaction.

About QuadraMed

Founded in 1993, QuadraMed® is a leading provider of healthcare technologies and services that improve the safety, quality and efficiency of patient care. Behind the Company’s products and services is a staff of 475 professionals who support clients at over 1,200 healthcare facilities. For information about QuadraMed, visit www.quadramed.com.

About Quality Systems, Inc.

Irvine, Calif.-based Quality Systems, Inc. and its NextGen Healthcare subsidiary develop and market computer-based practice management, electronic health records and revenue cycle management applications as well as connectivity products and services for medical and dental group practices. Visit www.qsii.com and www.nextgen.com for additional information.

October 22, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Modernizing Medicine Closes Series E Financing

Pentland Group, Summit Partners and Sands Capital Ventures participated in the round

Boca Raton, Florida – September 21, 2015 – Modernizing Medicine, Inc., the creator of the Electronic Medical Assistant® (EMA™), a cloud-based, specialty-specific electronic medical record (EMR) system, announced today that it has closed a $38 million Series E financing, bringing total capital raised to approximately $87 million.

The investors in the latest round of financing included Pentland Group and funds affiliated with Summit Partners and Sands Capital Ventures.

“We greatly appreciate the vote of confidence in the future growth of Modernizing Medicine,” shares Daniel Cane, co-founder and CEO of Modernizing Medicine. “While our dedication to the specialty-specific provider market is evidenced by sizable accomplishments – including four #1 EHR Black Book Rankings for dermatology, orthopedics, otolaryngology and gastroenterology – there still remains an opportunity to improve efficiencies and outcomes for physicians and patients alike.”

To learn more about Modernizing Medicine, visit www.modmed.com.

About Modernizing Medicine

Modernizing Medicine® is transforming how healthcare information is created, consumed and utilized in order to increase efficiency and improve outcomes. Our flagship product, Electronic Medical Assistant® (EMA™), is a cloud-based, specialty-specific electronic medical records (EMR) system built by practicing physicians. Available as a native iPad application and from almost any web-enabled Mac or PC, EMA adapts to each provider’s unique style of practice. This ICD-10 ready EMR system is available for the dermatology, ophthalmology, orthopedics, otolaryngology, gastroenterology, urology and plastic surgery markets and used by over 9,000 providers in the United States and its territories. The Modernizing Medicine family of companies also provides specialty-specific billing and inventory management, plus a gastroenterology platform consisting of an EMR system, Endoscopy Report Writer, practice management solution, patient portal, data analytics and revenue cycle management. Follow Modernizing Medicine on Twitter at www.modmed.com/twitter and on Facebook at www.modmed.com/facebook.

September 21, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

WebPT, EMR for Rehab Therapists, Makes Second Acquisition

WebPT, the leading web-based electronic medical record (EMR) solution for rehab therapists, today announced its acquisition of Therabill, a web-based practice management software for physical and occupational therapists, speech-language pathologists and behavioral health specialists.

“At WebPT, our overall goal is to create the most innovative, comprehensive rehab therapy solution on the market, and this acquisition is a huge step toward fulfilling that vision,” said WebPT CEO Paul Winandy. “Therabill and WebPT serve similar audiences, have similar company histories, and uphold similar commitments to providing exceptional customer service. So, it made a lot of sense for us to combine our companies and present our customers with a true end-to-end business solution.”

Joe Dundas, the president and co-founder of Therabill, said the decision to bring the two companies together was not a hasty one. “It’s never an easy decision for a founder to hand a business over to someone else,” Dundas said. “We spent a lot of time getting to know the culture at WebPT and seeing how they value their customers the same way we do. We’re confident that WebPT will take care of our customers with the same level of customer service that they’ve become accustomed to.”

Currently, WebPT’s integration with Therabill is similar to those WebPT offers with its other billing partners. In each of those set-ups, data flows from WebPT into the billing software. However, once WebPT creates a bidirectional integration with Therabill, rehab therapy practices of all sizes will have a single solution to their documentation, scheduling, reporting and billing needs.

“Bringing Therabill under the WebPT umbrella is another step toward our company’s goal of delivering an all-encompassing software platform to help therapists achieve greatness in practice,” said WebPT co-founder and COO Dr. Heidi Jannenga, PT, DPT, ATC/L. “It’s an exciting time for us, and we can’t wait to introduce this solution to the therapy community. Our customers have been asking for a solution like this, and in true WebPT fashion, we’re answering with an innovative product that will change the game for our current and future membership base.”

About WebPT, Inc.
With more than 49,000 members and 7,800 clinics, WebPT is the leading EMR for physical therapists (PTs), occupational therapists (OTs) and speech-language pathologists (SLPs). Offering a simple, affordable solution, WebPT makes it easy for therapists to transition from paper and outdated software to a user-friendly, cloud-based system. With WebPT, therapists, directors and front office staff all have access to their patients’ medical records anywhere, anytime. Based in downtown Phoenix, WebPT has a 99.9 percent uptime rate as well as a 99.5 percent customer retention rate. Learn more at WebPT.com.

August 18, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

AdvancedMD to be Acquired by Marlin Equity Partners from ADP

Largest cloud EHR and practice management ecosystem dedicated to independent physicians

South Jordan, UT – August 6, 2015 – AdvancedMD®, a division of ADP® (NASDAQ: ADP) and the pioneer in cloud technology for physician practices, today announced that it has entered into a definitive agreement to be acquired by global investment firm Marlin Equity Partners. AdvancedMD is one of the most comprehensive technology ecosystems designed for private practices and serves an expansive national footprint of more than 17,500 practitioners and 500 medical billing companies. AdvancedMD includes fully-integrated electronic health records, practice management, patient relationship management, as well asbig data reporting and business intelligence tools designed to automate and optimize workflow in all areas of the practice.AdvancedMD solutions are proven to accelerate revenue capture, streamline workflow and productivity, and facilitate improved patient health and satisfaction.

Raul Villar, ADP AdvancedMD president, will continue as CEO of the independent company following a 26-year career with ADP as a corporate vice president. “We are thrilled to take the next step in our extraordinary journey of providing medical practices the freedom to remain independent,” commented Raul Villar. “AdvancedMD was the pioneer in cloud solutions for medical practices and today we are the largest provider of clinical and financial solutions to small, independent medical practices. Marlin Equity Partners is a perfect fit for AdvancedMD as Marlin is committed to our vision of enabling medical practices to increase cash flow, reduce administrative burden and improve patient care. Under Marlin ownership we are well positioned to accelerate product investment and will continue to deliver best-in-class implementation and service to our loyal clients and partners.”

“AdvancedMD cloud-based technology along with its unmatched sales, marketing and implementation model provides a scalable platform to execute several growth initiatives already underway,” said Michael Anderson, a principal at Marlin. “We believe that AdvancedMD is poised to continue its impressive growth and we look forward to providing financial and operational support to help expand and enhance the company’s product solutions to meet the evolving needs of the rapidly changing healthcare IT market.”

Closing of the transaction is expected in the third or fourth quarter of calendar 2015 and is subject to customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.

About Marlin Equity Partners

Marlin Equity Partners is a global investment firm with over $3 billion of capital under management. The firm is focused on providing corporate parents, shareholders and other stakeholders with tailored solutions that meet their business and liquidity needs. Marlin invests in businesses across multiple industries where its capital base, industry relationships and extensive network of operational resources significantly strengthens a company’s outlook and enhances value. Since its inception, Marlin, through its group of funds and related companies, has successfully completed over 90 acquisitions. The firm is headquartered in Los Angeles, California with an additional office in London. For more information, please visit www.marlinequity.com.

About AdvancedMD

AdvancedMD is a leading provider of cloud-based PM, EHR and RCM solutions focused on the independent physician practice market. The company’s comprehensive portfolio allows physicians to drive additional revenue and reduce administrative burden by automating medical practice processes, optimizing patient schedules and encounters, streamlining insurance claim creation, managing prescription and order processes, and tracking and analyzing financial performance. AdvancedMD is widely recognized as a leader in its industry, and has earned the #1 ranking from KLAS, the leading independent industry analyst, in a number of categories including product quality, functionality and integration. For more information, please visit www.advancedmd.com.

August 6, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

Kareo Secures over $55 Million in Investment to Extend Market Leadership

Fully subscribed round led by Montreux Equity Partners, with participation from all current Kareo investors, to accelerate expansion of cloud-based product line for independent physicians

Irvine, CA – July 28, 2015Kareo, the leading provider of cloud-based solutions for independent medical practices, today announced it has closed $55.4 million in additional funding. This investment is led by Montreux Equity Partners with participation from Silver Lake Partners and all of Kareo’s existing investors. This capital will finance the continued development of Kareo’s product line—which enables physicians to manage all major aspects of their practice—as well as expand the company’s market access.

“With this new investment from Montreux, Silver Lake and our current investors, we’ll be able to accelerate the development of our comprehensive, cloud-based, medical office management platform for independent practices,” said Dan Rodrigues, founder and CEO of Kareo. “Concurrently, we will further expand our market reach, helping even greater numbers of physicians meet their care delivery and practice growth objectives.”

Montreux Equity Partners, a growth capital firm investing in high growth, commercial stage companies with category leading products, technologies and services has a history of investing in high-profile healthcare companies including MINDBODY Online (NASDAQ: MB), Glaukos (NYSE: GKOS) and MAKO Surgical (NASDAQ: MAKO, acquired by Stryker), among others. Along with the investment, Montreux Principal, Michael Matly, MD, will join the Kareo Board of Directors and will provide consultative guidance around the company’s market strategy. Dr. Matly brings valued experience in the health services and technology sectors and is actively involved in Montreux’s late stage investments. He previously represented Montreux on the board of MINDBODY Online (NASDAQ: MB) and currently serves on the board of Pure Life Renal. Before joining Montreux, Dr. Matly led Business Development and New Ventures at the Mayo Clinic Center for Innovation.

“We are very excited to invest in Kareo, a company dedicated to helping physicians deliver outstanding patient care without getting bogged down by administrative tasks and external mandates,” said Matly. “Independent practices are the foundation of the U.S. healthcare system, but they have been underserved by technology, often facing the choice of forgoing technology or deploying expensive and cumbersome enterprise solutions. Kareo is changing this.”

Montreux joins Kareo’s top-tier institutional investors, which include OpenView Venture Partners, Greenspring Associates, Stripes Group, Silicon Valley Bank and Western Technology Investments.

Kareo has been recognized as one of the nation’s fastest growing private companies, realizing a 368 percent increase in revenue over the past three years. In 2015, Kareo was named the leading vendor for integrated health records, practice management and physician billing solutions for the third consecutive year by Black Book and was identified by KLAS as a top-three practice management provider for practices with 1-10 physicians. The company serves over 30,000 healthcare professionals caring for 40 million patients and processes over $1 billion in medical claims monthly. In March, Kareo announced its acquisition of DoctorBase, an innovative developer of medical practice marketing and patient engagement solutions, and these solutions are now available to Kareo’s existing customers.

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About Kareo
Kareo is the only cloud-based medical office solutions platform purpose-built for small practices. At Kareo, we believe that, with the right tools and support, small practices can do big things. We offer an integrated solution of products and services designed to help physicians get paid faster, find new patients, run their business smarter, and provide better care. Our practice management software, medical billing solution, practice marketing tools and free, award-winning fully certified EHR help more than 30,000 medical providers more efficiently manage the business and clinical sides of their practice. Kareo has received extensive industry recognition, including the Deloitte Technology Fast 500, Inc. 500/5000, Red Herring Top 100 Company, and Black Book #1 Integrated EHR, Practice Management and Billing Vendor. Headquartered in Irvine, California, the Kareo mission is to help providers spend their time focused on patients, not paperwork. For more information, visit www.kareo.com.

About Montreux Equity Partners
Montreux is dedicated to making growth capital investments in category-leading companies with products, technologies and services that are advancing health. Since 1993, Montreux has invested in more than 50 companies including MINDBODY (NASDAQ: MB), Glaukos (NYSE: GKOS), MAKO Surgical (acquired by Stryker), SkinMedica (acquired by Allergan), Renal CarePartners (acquired by Ambulatory Services of America), Great Lakes Health Plan (acquired by United Healthcare), and Orexigen (Nasdaq: OREX). Montreux is based in San Francisco, CA, and is currently investing out of its fifth fund. For more information, visit www.mepvc.com.

July 28, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.

ALLSCRIPTS TAKES $200M EQUITY POSITION IN NANTHEALTH AND EXPANDS STRATEGIC ALLIANCE TO ENHANCEPRECISION GENOMIC MEDICINE AT POINT OF CARE

New Agreement Calls For Accelerating Delivery and Coordination of 21st Century Evidence Based Precision Medicine

CHICAGO and CULVER CITY, CA – June 30, 2015 – Allscripts (Nasdaq: MDRX) (“Allscripts”), a global leader in healthcare information technology solutions, and NantHealth, a cloud-based information technology company, announced they have taken a significant step forward in their strategic partnership through two cross-investments and a strengthening of their commercial agreement. The investments include Allscripts’ purchase of a 10% equity stake in NantHealth for $200 million in cash. In addition, NantCapital, LLC, the personal investment vehicle of Dr. Patrick Soon-Shiong, founder of NantHealth, has made a $100 million investment into Allscripts.

NantHealth is a healthcare IT company providing the most comprehensive genomic and protein-based molecular diagnostics testing in the market today through its first in class Genomic Proteomic Sequencing (GPS Cancer) diagnostic test, applying this actionable health information to create personalized cancer treatment plans through its sophisticated care planning tool Eviti. NantHealth is in the process of bringing GPS Cancer to the point of care and into the patient’s home through a single integrated clinical platform. The Company’s vision is to allow IDNs, Academic Medical Centers, Pediatric Centers, physicians, patients, payers, employers, researchers and pharma to coordinate personalized cancer care, enable access to cutting edge clinical trials, monitor outcomes and control cost in real-time.

The investments and commercial agreement strengthen the partnership between Allscripts and NantHealth, originally announced in March 2015, to develop an integrated, evidence-based, personalized approach to healthcare solutions, and specifically cancer care. The companies will use Allscripts’ scale, global network of hospital and physician clients and leading software solutions, combined with NantHealth’s clinical platform, applications and connectivity devices to build out the infrastructure for new personalized, precision medicine programs for our clients to improve cancer care.

Going forward, NantHealth and Allscripts are focused on working together to accelerate the dissemination of technologies that seamlessly bring the promise of comprehensive molecular diagnostics to the routine, patient care setting. Specifically, the companies intend to work on joint development of: API-based integration between the two companies’ solutions; the creation of a cross clinical-GPS Cancer sequencing knowledge ontology and industry standard; the development of GPS Cancer sequencing invitations via the Allscripts FollowMyHealth® solution; integration of NantTransporter giving access to NantCancer Genome Browser, NantContraster and Paradigm and the development of an ACO solution incorporating semantic interoperability.

Research has shown that a physician’s ability to make effective, evidence-based clinical decisions can improve by using specifically matched cancer protocols and drugs, delivered to the patient based on the individual’s unique DNA, RNA and proteomic profile, and integrated with the patient’s holistic clinical picture. http://www.ascopost.com/issues/june-25,-2015/redefining-cancer.aspx For the first time, NantHealth and Allscripts can integrate these two aspects into a unique knowledge-based solution to significantly improve the way clinicians treat cancer.

Together, physicians and patients will have the tools to stay engaged and active and provide necessary intervention as early as possible. Leveraging innovations in patient engagement, care coordination and disease management; NantHealth and Allscripts are creating the first fully comprehensive and integrated platform that will provide a transformation to the coordination and delivery of personalized care across the spectrum of integrated health systems, across community ambulatory and tertiary practices.

Paul M. Black, President and Chief Executive Officer of Allscripts, said, “We’re taking an important step forward in our strategic partnership that fully aligns our resources and furthers Allscripts’ strategy to invest in new technologies that can revolutionize service to hospitals and physicians. Under the leadership of Dr. Soon-Shiong, NantHealth is pioneering extraordinarily innovative, personalized healthcare solutions that will empower more efficient and effective clinical decisions. We’re confident that our joint efforts will help Allscripts lead the way in our vision of delivering an open, integrated and precision-based medical solutions to physicians and patients.”

Dr. Soon-Shiong stated, “Since the NantHealth/Allscripts partnership began earlier this year, we have come to know Allscripts and its management team well, and I am confident that they can be a major contributor toward the execution of our vision. Allscripts has the technology and scale to become a significant player in a once-in-a-generation shift to personalized medicine. Pursuing unique and innovative partnerships such as this, which can integrate our solutions across the full spectrum of precision care, furthers our mission of building a healthcare ecosystem to drive better outcomes with the highest quality and lowest cost.”

Provider Reaction

“North Shore-LIJ has an established commitment to oncology research and the delivery of world-class cancer care,” said Michael J. Dowling, president and chief executive officer of the North Shore-LIJ Health System. “Today’s announcement of an expanded strategic alliance between NantHealth and Allscripts is exciting, both in terms of furthering our clinical mission and the opportunity to generate additional value from our long-term partnership with Allscripts. We look forward to participating in this alliance as we work together to deliver on the potential for truly personalized care.”

“Today’s healthcare providers are looking for innovative solutions that are integrated across the continuum of care,” said Robert L. Meyer, president and chief executive officer of Phoenix Children’s Hospital. “Allscripts and NantHealth offer a promising vision for how tomorrow’ssolutions will provide healthcare professionals with a personalized, comprehensive view of the patient, better analyze data, create precise protocols to drive down costs and improve patient outcomes throughout our healthcare system.”

Allscripts Adds New Sunrise Hospital Client

Allscripts also announced today that Windber Medical Center, a nonprofit, community healthcare provider, NantHealth client and affiliate, has selected the Allscripts Sunrise™ platform to be the new core electronic health record for its hospital facility, replacing its current electronic health system. Located in Somerset County, in Southwestern Pennsylvania, Windber Medical Center offers comprehensive primary and acute care including a critical care unit, home health and hospice care
fitness and wellness programs as well as the Joyce Murtha Breast Care Center.

“Windber Medical Center together with the CAP certified and Platinum rated human tissue repository at the Windber Research institute and its partnership with Walter Reed Medical Center is poised to be an integrated cancer center with the most cutting edge scientific genomic research in cancer, and our affiliation with NantHealth and Allscripts will propel us towards our mission of providing 21st century care at the community level,” said Tom Kurtz, CEO of Windber Medical Center.

NantCapital Investment in Allscripts

NantCapital’s investment has been executed through a private placement of Allscripts common stock. Allscripts received gross proceeds of approximately $100 million in the private placement. The combined impact of the expanded commercial agreement and cross-investments is expected to be modestly accretive to Allscripts earnings in 2016 and become increasingly accretive over the five-year term of the commercial agreement. The transaction does not change Allscripts 2015 guidance.

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About Allscripts
Allscripts (Nasdaq:MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. To learn more, visit www.allscripts.com, Twitter, YouTube and It Takes A Community: The Allscripts Blog.

About NantHealth
NantHealth, a member of the NantWorks ecosystem of companies, is a healthcare transformational cloud-based IT company converging science and technology through a single integrated clinical platform, to provide actionable health information at the point of care, in the time of need, anywhere, anytime. NantHealth works to transform clinical delivery with actionable clinical intelligence at the moment of decision, enabling clinical discovery through real-time machine learning systems. The company’s technology empowers clinicians, patients and researchers to transcend the traditional barriers of today’s healthcare system. By converging molecular science, near real-time patient signal monitoring, computer science and big data technology, the NantHealth Clinical Operating System (cOS) platform empowers providers, patients, and commissioners to coordinate best care, monitor outcomes and control cost in real-time. This is the first system of its kind in healthcare, enabling 21st century coordinated care at a lower cost, enabling value-based population health management at a single patient level and at the population at large. For more information please visitwww.nanthealth.com and follow Dr. Soon-Shiong on Twitter @solvehealthcare.

About NantCancer Genome Browser
NantOmics, NantCancer Genome Browser enables clinicians for the first time to investigate a tumor genome from the full three billion bases down to the single-base level in real-time, thanks to the power of the NantOmics supercomputing and secure mobile infrastructure. The Cancer Genome Browser integrates with NantHealth’s treatment recommendation engine, Eviti, to personalize treatment protocols and clinical trail selection to individual patients based on their genomic and transcriptomic signature. The NantCancer Genome Browser is fully encrypted to allow deployment in a HIPAA secured environment, enabling clinicians to securely access patient data as soon as it’s available, wherever they
are.

About NantTransporter
Data transfer is one of the largest challenges associated with the analysis of sequencing data. NantOmics has designed an infrastructure capable of storing and processing thousands of genomes a day quickly and securely. Our NantTransporter software application enables secure transport of data directly from sequencing machines to NantOmics’s secure private genome processing cloud. Data streams are encrypted using 128-bit Advanced Encryption Standard (AES-128), the same algorithms designated for Top Secret government documents. Initiating a transfer is as easy as obtaining a transfer code from our web site, and specifying the files to be sent. Annotation of the genomes begins immediately with no downtime between transferring and the beginning of processing.

NantWorks has built a dark fiber network capable of Tb/sec transfers between hospitals, academic institutions and sequencing centers. In July 2012 we demonstrated the capabilities of NantTransporter by transferring 94 TB of genomic data and achieved speeds of up to 9.55 Gb/sec with a sustained rate of over 8.232 Gb/sec, the fastest and largest documented transfer of genomic data to date. To date we have transported over 15,000 cancer genomes via NantTransporter.

About NantContraster
Accurately assessing the state of a patient’s genome is one of the most powerful tools in the emerging field of personalized medicine. NantOmics applies its leading, novel genomic analyses to rapidly discover variants in a patient’s raw genomics data using the latest sequencing technologies combined with advanced statistics and machine learning techniques.

NantContraster annotates all variants against a knowledge database comprising all known and probable disease-associated genes to rank the genomic alterations that have the highest clinical relevance. When applied to cancer tumor/normal samples, our analysis is capable of quickly identifying genomic alterations that could lead to tumorigenesis for a fraction of the cost of conventional approaches. NantContraster is capable of concurrently processing many samples to handle large workflows from researchers and hospital settings.

About Paradigm
PARADIGM (Pathway Recognition Algorithm using Data Integration on Genomic Models) is a proprietary algorithm that uses a probabilistic graphical model to integrate multiple genomic data types on curated pathway databases and is unique for its per-sample approach that allows individual samples to be assessed alone or within the context of a cohort of interest.

June 30, 2015 I Written By

John Lynn is the Founder of the HealthcareScene.com blog network which currently consists of 10 blogs containing over 8000 articles with John having written over 4000 of the articles himself. These EMR and Healthcare IT related articles have been viewed over 16 million times. John also manages Healthcare IT Central and Healthcare IT Today, the leading career Health IT job board and blog. John is co-founder of InfluentialNetworks.com and Physia.com. John is highly involved in social media, and in addition to his blogs can also be found on Twitter: @techguy and @ehrandhit and LinkedIn.