NextGen Healthcare Information Systems, LLC, a subsidiary of Quality Systems, Inc., announced Wednesday an agreement to acquire Entrada, Inc.
The transaction is expected to close promptly upon the completion of customary closing conditions and will be settled in all cash with a value of approximately $34M.
In calendar year 2016, Entrada had revenue of approximately $12 million and had a loss of approximately $2 million.
For now, we don’t know much else about the deal. However, we’re told that Quality Systems will provide additional transaction details at its upcoming May conference call to review results of its fiscal year 2017 fourth quarter and year ended March 31, 2017.
“Mobile health solutions – in the palm of the provider – are quickly becoming some of the most valuable real estate in healthcare,” said Rusty Frantz, President and CEO of NextGen Healthcare. “We intend to invest in expanding Entrada’s capabilities, continuing to provide enhancements to their already impressive platform. This acquisition will improve physician satisfaction by providing a better caregiver and patient experience, while enabling clients to improve financial outcomes.”