ATLANTA – The Eclipsys Corporation has signed a definitive agreement to acquire all outstanding equity interests of Farmington, Conn.-based Premise, a privately held provider of patient flow software solutions.
The agreement provides for a purchase price of $38.5 million cash, subject to certain holdback escrow provisions and working capital adjustments.
Officials say the transaction has been approved by the boards of directors of both companies and is expected to close within 15 days, subject to satisfaction of customary closing conditions.
"We are finding that hospitals in Connecticut and across the country have been increasingly challenged to do more with less, and that has only intensified with today's economic conditions," said Premise CEO and Chairman Eric Rosow. He said Premise solutions help hospitals "eliminate waste, delays and redundant tasks while proactively planning for patients' needs and optimizing resource allocation."
This is the third acquisition for Eclipsys this year. The Atlanta-based IT company acquired MediNotes, a privately held physician software company based in Des Moines, Iowa, in October and Enterprise Performance Systems, Inc. (EPSi), a St. Louis-based provider of financial solutions for healthcare companies, in February.
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