Streamline Health Solutions inks definitive agreement to acquire all assets of CentraMed
Published on May 7, 2014 at 10:54 AM
Streamline Health Solutions, Inc. (NASDAQ: STRM), a leading provider of transformational data-driven solutions to help healthcare providers reduce exposure to risk, enhance clinical, financial, and operational performance, and improve patient care, today announced that the Company has signed a definitive agreement to acquire substantially all of the assets of CentraMed, Inc.
CentraMed, based in Carlsbad, California, provides healthcare enterprises with highly regarded cost and spend management solutions exclusively in a software as a service model. The company has more than a dozen clients predominately on the West Coast and throughout the Southeastern U.S. Streamline Health anticipates the transaction, which is subject to certain closing conditions, to close during the month of May.
"We are pleased to announce the signing of the asset purchase agreement, and we look forward to welcoming the CentraMed software offerings to our growing suite of solutions," stated Robert E. Watson, President and Chief Executive Officer, Streamline Health. "Our business plan thesis is that by offering a complete financial analytics solution – including financial decision support and cost management capabilities – we will have a unique and compelling selling proposition. As amazing as this may seem, many of the largest healthcare providers in the country struggle with being able to map the direct cost of individual department operations to their revenue. By adding these leading software-as-a-service-based cost management solutions to our Looking Glass™ platform, we will not only augment our financial management suite of solutions, we will also add more than a dozen new clients for our cross-selling strategy."
Streamline Health Solutions, Inc.