N. Harris Computer Corp., a subsidiary of Toronto software company Constellation Software Inc., has acquired Reston, Virginia-based QuadraMed Corp., a provider of clinical, financial, and health information management software solutions for hospitals and hospital networks. The seller in the undisclosed deal was U.S. private equity firm Francisco Partners, which bought QuadraMed in 2010. Constellation is a portfolio investment of OMERS Private Equity, which has backed the company since 2000.
Constellation Software Inc. (“Constellation”)(TSX:CSU), announced today that it has completed, through its wholly-owned subsidiary N. Harris Computer Corporation (“Harris”), the acquisition of QuadraMed Corporation (“QuadraMed”), a portfolio company of Francisco Partners. QuadraMed is a provider of mission critical information technology solutions for the healthcare information technology market. The financial terms of the transaction were not disclosed.
The acquisition complements Harris’ existing healthcare businesses through expansion of its product portfolio, the addition of many blue chip clients and increasing the markets served. QuadraMed provides Harris with a platform to support its entry into the US healthcare information technology (“HCIT”) market. QuadraMed’s dedicated, committed and knowledgeable employees will continue to develop, sell, implement and support the QuadraMed product portfolio. The acquisition will also increase Harris’ Canadian and international market presence.
The clinical, revenue cycle and access management solutions compliment Harris’ existing healthcare solutions in financial management, supply chain management, and human resource management. Harris will continue to operate QuadraMed as a stand-alone business headquartered in Reston, Virginia and maintain key offices in Ontario, California, Jacksonville and Lake Mary, Florida and New York City, New York.
Jeff Bender, Chief Executive Officer of Harris, commented, “QuadraMed is a great addition to the Harris family. Harris is a software company that is focused on providing software solutions that empower people who serve their communities. We currently do this in utilities, local government, schools, public safety, Canadian health care and now with QuadraMed – US health care. We are focused on enabling our customers to deliver essential services, safety and care to their constituents.”
Duncan James, former President and Chief Executive Officer of QuadraMed, commented, “QuadraMed, its employees and its customers have found a long term home with Harris. QuadraMed has built great customer relationships and a strong product portfolio over the years and now our customers and employees can continue to work in partnership supported by Harris.”
Daniel Desauliners, Group President of Harris’ Health Care Group, said, “We welcome all of the QuadraMed employees and customers to Harris. We are excited about the opportunity we have to continue to support QuadraMed in their goals of assisting healthcare providers in improving productivity, ensuring regulatory and legal compliance, and enhancing the quality of patient care and safety.”
About Constellation Software Inc.
Constellation Software acquires, manages and builds vertical market software businesses that provide mission-critical software solutions.
About N. Harris Computer Corporation
Since 1976, Harris has focused on providing feature-rich and robust turnkey solutions to Public Sector, Schools, Utility, and Health Care agencies throughout North America. Harris’ focus is on creating long-term relationships with its customers and ensuring that it meets the changing needs of its customers over time. Further information about Harris may be obtained from its website at www.harriscomputer.com.
QuadraMed was founded in 1993 with the goal of assisting healthcare providers to improve productivity, ensure regulatory and legal compliance, and enhance the quality of patient care and safety. Our software applications and related services are used primarily in hospitals and health systems and their associated facilities throughout the United States, Canada, the United Kingdom, and Saudi Arabia.
For further information, contact:
Constellation Software Inc.
Jamal Baksh, Chief Financial Officer; Tel: (416) 861-2279; firstname.lastname@example.org
Harris Health Care Group
Daniel Desaulniers, Group President; Tel: (418) 724 5037 ext 1252;
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