Online health workforce education vendor HealthStream has acquired Health Care Compliance Strategies, a veteran firm offering online compliance training curricula.
Nashville, Tenn.-based HealthStream paid $13 million in cash and $2.4 million in stock, with another $750,000 in cash paid over a 12-month period subject to achieving certain milestones. HealthStreams education content is used by about 3.7 million health care professionals covering such areas as OSHA compliance, workforce development, talent management, patient engagement and performance assessment.
HealthStream previously expanded its talent management product line in 2012 with two acquisitions. It paid $8 million in cash and stock for provider enrollment and credentialing vendor Sy.Med Development and $4.3 million for Decision Critical, which sells a suite of software to store and view the qualifications, competencies, licenses, educational records and credentials of employees.
Now, Jericho, N.Y.-based HCCS brings its compliance courseware and training programs covering HIPAA, bioterrorism and disaster preparation, patient rights, medication errors, corporate integrity agreements, social media, conflicts of interest and research misconduct, among other issues. HealthStream will primarily target hospital compliance officers for its new services.
HCCS had 2013 revenue of $6.8 million, according to HealthStream.
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