Two veteran hospital information systems vendors serving small and rural hospitals are joining forces.
The merger brings together Computer Programs and Systems Inc., which has agreed to purchase Healthland Holding Inc. and its affiliates for $250 million in cash and stock.
Combined, the companies will give CPSI a customer base of about 1,200 hospitals, as well as bringing a number of new technologies and an entrance into the post-acute care market, where one of Healthland's affiliates serves 3,300 facilities.
Heartland says it provides electronic health records and other clinical systems to about 350 hospitals.
CPSI projects both companies together will total about $300 million in revenue for 2015 and the acquisition will strongly add to earnings in 2016 and 2017. CPSI will support and invest in Healthland’s Centriq platform for at least seven years and will support the Healthland Classic platform for at least two years.
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