A veteran of the healthcare information technology industry has been tapped to lead AdvancedMD, nearly six months after the Salt Lake City-based provider of records management, billing and scheduling solutions changed ownership.
The appointment of Eric Morgan as AdvancedMD's new president and chief executive officer caps a busy six months for the company, which was purchased by Francisco Partners, a San Francisco-based private equity firm, on January 17. Morgan, who has worked for StatCom and Lawson Software, succeeds John Trzeciak, who'd served as interim CEO since the acquisition and will remain with the company as a member of the board of directors and operating advisor to Francisco Partners.
"This is an exciting time for AdvancedMD," said Ezra Perlman, a partner at Francisco Partners, who hailed AdvancedMD as a top provider of software-as-a-service (SaaS) solutions to physician offices. "We are pleased to have Eric join (the company). His substantial leadership experience in the healthcare IT market will serve the organization well as we take the company to the next level."
Morgan was president and CEO of the healthcare software start-up StatCom LLC. Prior to that, he had spent 13 years with Lawson Software, where he'd served several roles, was one of the first employees of the company's healthcare division (now the company's largest business) and helped the company grow more than 15 times during his tenure.
"I am thrilled to be leading AdvancedMD," Morgan said in a press release. "We have a tremendous product, a strong team and a substantial base of happy clients. Software-as-a-service has been embraced by the market and AdvancedMD is a premier offering to physician practices."
Launched in 2002, AdvancedMD offers billing and scheduling software services for physicians as well as AdvanceEMR, a flexible electronic medical records management system. Company officials say AdvancedMD solutions will continue to enjoy popularity as healthcare providers, including management service organizations, independent physician organizations and physician hospital organizations, look to integrate clinical and financial services with outlying physicians and offices.
The acquisition by Francisco Partners, which boast $5 billion in committed capital, was designed to give AdvancedMD more capital to develop new products and expend its customer base, according to company officials.
Is AdvancedMD poised to grow with this new leadership? What sets them apart from others in the field? E-mail your comments to eric.wicklund@medtechpublishing.com.