Hyland Software Inc., a Cleveland-based provider of enterprise content management software, has acquired eWebHealth, a Reading, Mass.-based provider of hosted medical records workflow solutions. No financial terms were disclosed. Hyland is a portfolio company of Thoma Bravo.
Thoma Bravo portfolio company Hyland Software (Hyland), one of the world’s largest independent and highest growth enterprise content management (ECM) software vendors, has acquired privately held eWebHealth, a leading provider of hosted medical records workflow solutions. This purchase marks the second healthcare IT acquisition for Hyland in the past year and continues Hyland’s rapid push into healthcare, already its largest vertical market.
“Thoma Bravo’s expertise with buying and building software companies, coupled with Hyland Software’s established and award winning solutions and experienced management team, represents the perfect combination for consolidating the enterprise content management (ECM) industry within the healthcare vertical and beyond,” said Seth Boro, a principal at Thoma Bravo. “We look forward to identifying additional strategic acquisition targets for Hyland Software.”
“Since partnering with Thoma Bravo, we have gained invaluable expertise in identifying, acquiring and integrating ECM companies into Hyland,” said Hyland CEO A.J. Hyland. “Acquisitions represent an important component of our growth strategy and Thoma Bravo has been an instrumental partner in building our healthcare solutions and expertise through the acquisition of leading healthcare IT companies.”
As a result of the eWebHealth transaction, Hyland’s customer base within the healthcare industry now includes more than 1,000 healthcare organizations.
In the past year, Thoma Bravo has helped Hyland significantly grow in the healthcare space by:
Thoma Bravo will continue to explore leading healthcare IT companies that can provide portfolio companies, such as Hyland Software, opportunities to better meet customer needs through industry-tailored solutions.
About the Hyland Software solution, OnBase
One of the largest independent software vendors in the world of enterprise content management (ECM), Hyland Software is the developer of OnBase. An award-winning suite of document management and content management solutions, OnBase has a proven record of solving problems resulting from time consuming, costly and error plagued manual tasks. Available on-premises or as software as a service (SaaS), OnBase installs quickly, cost effectively and is designed to grow with organizations.
Today, people at more than 9,000 organizations both large and small in 60 countries have the time to do the things that really add value thanks to OnBase. It has proven integrations with leading third-party systems like Epic, GE Centricity, Cerner, Eclipsys, MEDITECH and just about all other EMR and health information systems (HIS). Therefore, whether the function is clinical, financial or administrative, OnBase is a key technology in a growing number of hospitals, ambulatory care centers, physicians’ offices and home health organizations.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm that has been providing equity and strategic support to experienced management teams building growing companies for more than 29 years. The firm originated the concept of industry consolidation investing, which seeks to create value through the strategic use of acquisitions to accelerate business growth. Thoma Bravo applies its investment strategy across multiple industries with a particular focus on the software and services sectors. In the software industry, Thoma Bravo has completed 49 acquisitions across 14 platform companies with total annual earnings in excess of $600 million. For more information on Thoma Bravo, visit www.thomabravo.com.