CPSI, a community healthcare solutions company, has signed a definitive agreement to buy Get Real Health, a Maryland-based provider of technology solutions to boost patient outcomes and engagement strategies with care providers.
With this acquisition, CPSI expects to bolster its position in community healthcare by providing three patient engagement and empowerment solutions offered by Get Real Health.
These solutions include Ellie, Instant PHR and CHBase.
Ellie helps to address the complete chronic care management process of patients by promoting communication and interaction with their care managers.
Instant PHR is a patient portal to promote efficient collaboration between the individual and their healthcare provider.
CHBase brings clinical data and personal health data to provide a thorough view of the health of a patient.
Earlier this month, Get Real Health introduced Lydia, where people can organise, store, and share their health information with family and healthcare providers.
CPSI president and chief executive officer Boyd Douglas said: “The demographics and population make-up of the communities we serve support the growing demand for strategies and tools to address the on-going management of chronic care conditions, which are prevalent in these areas.
“Helping our customers secure the future of community healthcare is what we focus on each and every day. By acquiring Get Real Health, we can continue this effort as providers evolve to a value-based care delivery model.”
Following the acquisition of Get Real Health, CPSI acute and ambulatory customers will be able to use InstantPHR and CHBase to engage their patients in a better way than conventional patient portals.
The company’s Ellie app will enable CPSI customers to boost their patients’ health outcomes.
The total consideration to be paid by CPSI is $11m, which is payable in cash, subject to certain adjustments at and after closing.
The agreement also covers an earn-out payment of up to a maximum of $14m, based on the EBITDA performance of Get Real Health during this year.
The completion of the transaction is subject to the satisfaction of customary closing conditions. It is expected to close in the second quarter of 2019.
To fund the deal, CPSI will draw around $11m under its existing senior secured revolving credit facility.