Constellation acquires QuadraMed Corporation
Press Releases — Jun 03, 2013
Public to Private
Constellation Software Inc. (“Constellation”)(TSX:CSU), announced today that it has completed, through its wholly-owned subsidiary N. Harris Computer Corporation (“Harris”), the acquisition of QuadraMed Corporation (“QuadraMed”), a portfolio company of Francisco Partners. QuadraMed is a provider of mission critical information technology solutions for the healthcare information technology market. The financial terms of the transaction were not disclosed.
The acquisition complements Harris’ existing healthcare businesses through expansion of its product portfolio, the addition of many blue chip clients and increasing the markets served. QuadraMed provides Harris with a platform to support its entry into the US healthcare information technology (“HCIT”) market. QuadraMed’s dedicated, committed and knowledgeable employees will continue to develop, sell, implement and support the QuadraMed product portfolio. The acquisition will also increase Harris’ Canadian and international market presence.
The clinical, revenue cycle and access management solutions compliment Harris’ existing healthcare solutions in financial management, supply chain management, and human resource management. Harris will continue to operate QuadraMed as a stand-alone business headquartered in Reston, Virginia and maintain key offices in Ontario, California, Jacksonville and Lake Mary, Florida and New York City, New York.
Jeff Bender, Chief Executive Officer of Harris, commented, “QuadraMed is a great addition to the Harris family. Harris is a software company that is focused on providing software solutions that empower people who serve their communities. We currently do this in utilities, local government, schools, public safety, Canadian health care and now with QuadraMed - US health care. We are focused on enabling our customers to deliver essential services, safety and care to their constituents.”
Duncan James, former President and Chief Executive Officer of QuadraMed, commented, “QuadraMed, its employees and its customers have found a long term home with Harris. QuadraMed has built great customer relationships and a strong product portfolio over the years and now our customers and employees can continue to work in partnership supported by Harris.”
Daniel Desauliners, Group President of Harris’ Health Care Group, said, “We welcome all of the QuadraMed employees and customers to Harris. We are excited about the opportunity we have to continue to support QuadraMed in their goals of assisting healthcare providers in improving productivity, ensuring regulatory and legal compliance, and enhancing the quality of patient care and safety.”
QuadraMed serves a large, loyal, and established customer base that includes the two largest municipal hospital networks in the United States. Over 15% of all hospitals in the United States use at least one QuadraMed product today. QuadraMed is headquartered in Reston, VA.
Public To Private