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WellSky to acquire CarePort
Posted on Wednesday, 14 October 2020 11:00
WellSky has signed on the dotted line to buy US-based care coordination software company CarePort from Allscripts.
Financial terms were not disclosed.
Subject to customary conditions, the transaction is expected to complete before the end of 2020.
Boston-headquartered CarePort operates a care coordination network that connects acute and post-acute healthcare providers and payers across the US.
The group’s electronic health record-agnostic suite allows customers to track and manage patients throughout their entire care journey.
CarePort’s services also help to prevent rehospitalisations and reduce admissions from emergency departments.
By providing end-to-end visibility across the care continuum, the two companies will be able to improve outcomes, lower costs and increase patient satisfaction.
The deal will also enable WellSky to manage the acute care and discharge process, apply patient and population analytics and support electronic medical record protocols.
Bill Miller, chief executive of the buyer, said: “Through this agreement, we’re ensuring our clients have the intelligent technology they need to do right by their patients, collaborate with payers, and succeed in value-based care models.
“It’s WellSky’s mission to realise care’s potential, and this moves us that much closer to achieving it.”
The target’s chief executive, Lissy Hu, said the deal would increase vital connections between acute, post-acute and community care providers.
Rick Poulton, president of the vendor, noted: “This agreement is another all-around win for Allscripts as it unlocks significant value for our shareholders, enables us to increase our focus on our core business, and brings our CarePort customers the benefit of continued investment under new and very strong ownership.”
There have been 8,595 deals targeting data processing, hosting and related services providers announced globally in 2020 to date, according to Zephyr, the M&A database published by Bureau van Dijk.
In the most valuable of these, Teladoc Health agreed to buy US-based Livongo Health for USD 18.50 billion.
The deal represented the fourth-largest transaction on record for this sector.
© Zephus Ltd