Vista Equity Partners completes acquisition of Sage Healthcare Division
Vista Equity Partners has completed its acquisition of the Sage Healthcare Division from The Sage Group plc in an agreement that was announced on 22 September, 2011.
The new company will be called Vitera Healthcare Solutions (Vitera), which will continue serving the ambulatory market with its current line of electronic health records (EHR), practice management and revenue cycle management products.
Vitera's products include Intergy, Intergy EHR, Practice Analytics, Practice Portal, STS, as well as the Medical Manager practice management product. As one of the largest healthcare solutions providers in the EHR and practice management markets, Vitera serves more than 400,000 healthcare professionals including 80,000 physicians. Vitera's products are also used by approximately 20 per cent of all community health centres in the United States, and process more than 33 million transactions and 1.8 million e-prescriptions monthly.
As part of the closing of the transaction Betty Otter-Nickerson, former President of Sage Healthcare Division, will be transitioning her leadership responsibilities to the newly appointed CEO of Vitera, Matthew Hawkins. Otter-Nickerson will remain a part of Vitera to support the transition for the remainder of the year.
"I have enjoyed playing a role in growing Sage Healthcare and managing the company through this transition. Vitera is well positioned with a new owner and a new leader to make the strategic investments necessary to continue growing and providing industry leading solutions to healthcare professionals and physicians," says Otter-Nickerson.
"I'm excited to join Vitera as we enter this next phase of growth. As a standalone company, we will be laser focused on our clients' practices as we commit to improving our existing solutions and developing new innovative products to help them improve business and healthcare outcomes," says Hawkins.
Hawkins held the role of Vice President and General Manager of Henry Schein Practice Solutions, a provider of healthcare software, revenue cycle management, electronic claims aggregation and value-added services to more than 65,000 oral health practices. He also served as a strategy consultant for McKinsey & Company. He received an MBA from Harvard Business School and a Bachelor of Science degree from Brigham Young University.
Most recently Hawkins was CEO at SirsiDynix, a global software company which brings the power of knowledge and information to nearly 150 million users affiliated with more than 23,000 library facilities in 70 countries. Prior to this he was COO at SirsiDynix, where he helped transform the sales and operations of the business to better serve its customers.
News of the transaction will be seen as a positive direction for the company and its clients, according to healthcare analyst Judy Hanover, Research Director at IDC Health Insights.
"The changes to the business will help focus the company's efforts and align technology to meet the strengths of its core," Hanover says. "Vista's approach should bring stability to the company and create more energy for the EHR and practice management portfolio. The new business creates an opportunity for the company to focus on the needs of its clients in the healthcare space."