SEG Sector Deals provide transaction highlights, relevant insights, and SEG’s perspective on interesting M&A deals within the software industry.
EHR provider Allscripts announced their fifth transaction in the past 12 months, the acquisition of HealthGrid for $60M. HealthGrid is a leading provider of a mobile patient engagement platform and includes features for mobile check-ins, post-care notifications, automated appointment scheduling and analytics. The platform has helped healthcare providers dramatically improve patient interactions and satisfaction. HealthGrid’s platform will be integrated into Allscripts’ FollowMyHealth patient engagement platform, creating a more robust platform that enables Allscripts providers to increase outreach to patients in pre-care, point-of-care, and post-care settings. Furthermore, the platform’s complex rules engine based on clinical protocol will enable intelligent outreach by providers, allowing them to connect to patients at the precise, optimal time in the care process.
This acquisition falls in line with heightened M&A activity in the healthcare space. In 1Q18, Healthcare SaaS M&A led all other vertical categories, comprising 15% of total vertical SaaS deals, more than twice as many transactions (on a percentage basis) than the next most active vertical. Due to the sector’s massive total addressable market, healthcare typically comprises a large percentage of SaaS transactions. Please keep an eye out for our SaaS MA Update publishing soon.
Seller Business Description:
HealthGrid is a provider of a mobile application patient engagement platform. HQ: Orlando, FL
Buyer Business Description:
Allscripts is a leading provider of healthcare technology, including electronic healthcare records (EHR), practice and revenue management software. HQ: Chicago, IL Read Press Release