Monday, November 2, 2015
Quality Systems Buys HealthFusion Holdings For As Much As $190M
Irvine-based Quality Systems said late Friday that it has acquired San Diego-based HealthFusion Holdings, in a deal worth $165M plus up to $25M in earnout. HealthFusion is a developer of web-based, cloud software used by physicials, hospitals, and medical billing services. Quality Systems said HealthFusion has an annual run rate of around $30 million. Quality Systems is funding the acquisition with $200 million in financing from J.P. Morgan and U.S. Bank. QSII said it was advised by J.P. Morgan Securities and Latham & Watkins LLP in the deal; HealthFusion was advised by TripleTree and Wilson Sonsini Goodrich & Rosati. HealthFusion was founded in 1998.