Eclipsys Corporation officials announced Monday morning at the Healthcare Information and Management Systems Society's 2008 conference that they have acquired Enterprise Performance Systems, Inc., a vendor of business performance-improvement solutions for healthcare providers. Officials say the deal will further strengthen Elipsys' clinical, operational and financial-performance-improvement solutions.
The acquisition closed on February 25, 2008. Eclipsys acquired all of the issued and outstanding capital stock of EPSi from its former stockholders for a purchase price of approximately $53 million payable in cash at closing, subject to certain holdback arrangements and working capital adjustments.
"As The Outcomes Company, Eclipsys is committed to helping healthcare providers improve how they manage their businesses in today's financially challenging healthcare environment," said R. Andrew Eckert, Eclipsys president and chief executive officer. "The acquisition of EPSi reinforces our commitment to the financial decision support space, and we look forward to building on our company's leadership position in this market."
EPSi's solutions, similar to Eclipsys, are based upon the Microsoft SQL platform, which will enable Eclipsys to immediately offer its SQL-based business decision support solution. The applications are Web-based, scalable, flexible and easy to implement - with documented, rapid return on investment.
"Eclipsys and EPSi are a winning combination for our clients and the market, as both companies are committed to delivering clients real value and real results," said Tim Rutledge, president of EPSi. "We are very excited to join the Eclipsys team and be able to provide our clients the benefits of the tremendous Eclipsys infrastructure and resources to continue our momentum, development and growth."
EPSi's management and employees are expected to continue with the business. Eckert stated, "EPSi has a very talented group of people who have built a successful business. We welcome them to Eclipsys and look forward to their ongoing contributions to the growth of this business and service to an expanding base of clients."