Francisco Partners Sells Quantim Division of QuadraMed to Nuance Communications
Press Releases — Sep 27, 2012
Public to Private
Francisco Partners, a leading technology-focused private equity firm, today announced that its portfolio company QuadraMed®, a provider of information technology solutions for the healthcare industry, has entered into a definitive agreement to sell its Quantim® business division to Nuance Communications for an undisclosed price.
San Francisco Quantim is the Health Information Management (HIM) business division of QuadraMed. The division offers ICD-10 compliant, single-platform HIM technology and services that streamline coding and compliance within a healthcare provider’s workflow, as well as a core measures solution that helps providers manage clinical quality and reporting. The Quantim solution suite also includes a Computer-Assisted Coding solution and ICD-10 software and services that help health systems prepare for the transition to ICD-10.
“The strategic sale of Quantim to Nuance is a win for all parties,” said Ezra Perlman, a partner at Francisco Partners and board member at QuadraMed. “Together, Nuance and Quantim will be stronger than they have been separately, which will benefit Quantim’s customers and employees. We also look forward to continuing to support QuadraMed and contributing to its ongoing success.”
“Francisco Partners has been a great supporter of QuadraMed since 2010, and the sale of Quantim will enable QuadraMed to be an even more focused company going forward,” said Duncan James, CEO of QuadraMed. “We look forward to our continued relationship with Francisco Partners.”
Francisco Partners has solid experience in healthcare IT investing, having made eight platform investments and having acquired 17 healthcare IT companies in total since 2005. Francisco Partners acquired QuadraMed in 2010. QuadraMed will continue to focus on its healthcare software solutions for access and identity management, care management and revenue management.
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.