GI Partners, a middle market private equity firm, has signed a definitive agreement to acquire Netsmart Technologies in partnership with Allscripts Healthcare Solutions.
Allscripts will merge its homecare software business unit with Netsmart to firmly establish Netsmart as the largest human services and post-acute technology provider in healthcare, according to a release.
The combination of Netsmart and Allscripts' homecare business creates an EHR leader in the human services and post-acute spaces with full revenue cycle management and hosting capabilities, according to the companies.
"The GI team believes this combination will create an industry leader that can improve clinical results and reduce costs in many increasingly important areas of the healthcare ecosystem," said Dave Kreter, director of GI Partners.
Mike Valentine, CEO of Netsmart, will continue in that capacity for the combined company.
The transaction is subject to customary regulatory and closing conditions and is expected to be completed in April 2016.
Editor
Editor Beth earned a bachelor’s degree in journalism and master’s in health communication. She has worked in hospital, academic and publishing settings over the past 20 years. Beth joined TriMed in 2005, as editor of CMIO and Clinical Innovation + Technology. When not covering all things related to health IT, she spends time with her husband and three children.