Houlihan Lokey Advises Allscripts Healthcare Solutions
Houlihan Lokey is pleased to announce the acquisition of the OneContent software assets of Allscripts Healthcare Solutions, Inc. (Allscripts) (NASDAQ:MDRX) by Hyland Software, Inc., a portfolio company of Thoma Bravo, LLC. The transaction closed on April 2, 2018.
OneContent captures, indexes, stores, and retrieves patient information, providing both the health information department and clinicians with access to data when and where they need it. Allscripts acquired the OneContent business in late 2017 through the acquisition of McKesson's Enterprise Information Solutions portfolio. Upon transaction close, the OneContent client base and associates transitioned to Hyland.
Allscripts is a leader in healthcare information technology solutions that advance clinical, financial, and operational results. Allscripts' innovative solutions connect people, places, and data across an Open, Connected Community of Health™. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations.
Founded in 1991 and headquartered in Westlake, Ohio, Hyland is a leader in providing software solutions for managing content, processes, and cases for organizations across the globe. For over 25 years, Hyland has enabled more than 19,000 organizations to digitalize their workplaces and fundamentally transform their operations.
Hyland Software combines information management and enterprise medical imaging with business process and case management capabilities, delivering a suite of unparalleled content and image-management solutions. Hyland will continue to support OneContent customers' current solutions while enhancing the platform with new features and functionality and refining the integration with Allscripts' Paragon Electronic Health Record (EHR) system.
Thoma Bravo is a Chicago-based private equity firm with more than 30 years of history providing equity and strategic support to experienced management teams and growing companies. Thoma Bravo is known particularly for its successful history of investments in application software, infrastructure software, and technology-enabled services sectors.
This transaction further strengthens Houlihan Lokey's position in the HCIT and tech-enabled services sector, having advised on 22 transactions since January 2015. Houlihan Lokey's Healthcare Group is among the largest dedicated healthcare investment banking groups in the country. In 2017, the group closed 21 transactions and was ranked the No. 1 advisor for U.S. healthcare M&A transactions under $1 billion by Thomson Reuters. Houlihan Lokey's Healthcare Group has closed more than 300 M&A healthcare transactions since inception.
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