HealthPort officials say they’re scaling back their business to focus solely on what they do best.
The Alpharetta, Ga.-based healthcare IT solutions provider announced last week that it will be selling off its Solution Services Division, which offers electronic health records, practice management software and revenue cycle management tools, to Germany-based CompuGroup Medical AG.
Healthport plans to focus on its release-of-information solutions, accounting for some 85 percent of the company’s revenues, with more than 10,000 healthcare facilities and 44,000 physicians using the services.
Learn on-demand, earn credit, find products and solutions. Get Started >>
The deal, expected to be completed early next year, rids Healthport of its Columbia, S.C. division, which has a client base of roughly 800 physician practices, community health centers and hospitals.
“As the founder and industry leader in release of information services and technology, this transition of our Solution Services Division to CompuGroup positions us to provide an increased focus on our core-competency, release-of-information services, and an even greater level of service and commitment to the healthcare facilities we serve,” said Larry Armold, vice president and general manager of Healthport’s solution services division. “In addition, as we increase our footprint in the release of information services and technology space, strategic decisions like this one allow us to deepen our level of innovation and attention on remaining experts in providing ‘best-in-class’ services and renowned technology to the health information management community.”
Last July, HealthPort spun off its healthcare consulting service into TrustHCS, an independent company based in Springfield, Mo. And late last year, the company dropped a planned initial public offering of common stock after officials surveyed the landscape and determined it would be better to stay private and grow organically. At the time, Patrick J. Haynes III, the company’s founder and board chairman, said the company was looking positively toward the future.
“If you think about it,” he pointed out in a January interview, “records are everything. And our business doesn’t just go away.”
CompuGroup, billed as one of the largest e-health companies in Europe, operates in 14 European countries as well as Malaysia, Saudi Arabia, South Africa and the United States, employs roughly 3,100 people and serves an estimated 370,000 doctors, dentists, hospitals and healthcare networks. Among its subsidiaries is Noteworthy Medical Systems, a Phoenix, Ariz.-based provider of healthcare technology for physician practices that was acquired in 2009.
Earlier this year, Noteworthy was selected by the Camden Coalition of Healthcare Providers to help power New Jersey’s first health information exchange.
“We are very excited about providing HealthPort’s Solution Services Division customers with our comprehensive product line and new product developments to solve more clinical and operational challenges,” said Rick Mullins, president and Chief Executive Officer, of Noteworthy Medical Systems, a division of CompuGroup. “As new customers of CompuGroup, these facilities will be working with a global healthcare company that is investing heavily in providing them with new solutions to continue improving patient outcomes and improving efficiency of care coordination.”
Last month, CompuGroup acquired all of the shares of ProfDoc Care AB, a Swedish provider of e-health solutions. And in August, the company purchased all shares of American Healthcare Holdings, Visionary Medical Systems and Visionary RCM, also called the Visionary Healthware Group, a Tampa, Fla.-based provider of practice management and EHR solutions to approximately 10,000 office information systems and RCM services.
“The (United States) is a core market for CompuGroup Medical,” said Frank Gotthardt, CompuGroup Medical’s Chairman of the Board, announcing the Visionary deal. “With the network of doctors now served through Noteworthy and Visionary we are quickly moving up the ranks of healthcare IT companies in (the) USA. I am particularly excited about this accelerating development and l repeat our commitment to do everything in our power to make the United States a key future market for CompuGroup Medical.”