QuadraMed Corporation has signed a definitive agreement to acquire the computerized patient record (CPR) assets of Misys Healthcare, a division of Misys plc, for $33 million in cash. Misys CPR is an enterprise-wide computerized patient record and electronic health record system. This transaction is expected to close within 60 days. Following the closing, QuadraMed will file additional financial information in connection with its public company reporting obligations.
“Adding the CPR product to QuadraMed’s suite of healthcare solutions is a key step in our plan to accelerate QuadraMed’s growth while delivering on our Care-Based Revenue Cycle strategy,” said Keith Hagen, CEO of QuadraMed. “As a result of this acquisition, QuadraMed expects to be positioned to support the clinical information systems needs of large complex hospitals and healthcare delivery systems, particularly those focused on full clinical integration, clinical decision support and computerized physician order entry (CPOE). Each of these is an important component of our healthcare industry’s quest to increase patient safety and quality.