QuadraMed, which is backed by Francisco Partners, is selling its Quantim business division to Nuance Communications. Terms of the deal were not released. QuadraMed is a healthcare technologies and services company.
Francisco Partners, a leading technology-focused private equity firm, today announced that its portfolio company QuadraMed(R), a provider of information technology solutions for the healthcare industry, has entered into a definitive agreement to sell its Quantim(R) business division to Nuance Communications for an undisclosed price. (See Nuance announcement here.)
Quantim is the Health Information Management (HIM) business division of QuadraMed. The division offers ICD-10 compliant, single-platform HIM technology and services that streamline coding and compliance within a healthcare provider’s workflow, as well as a core measures solution that helps providers manage clinical quality and reporting. The Quantim solution suite also includes a Computer-Assisted Coding solution and ICD-10 software and services that help health systems prepare for the transition to ICD-10.
“The strategic sale of Quantim to Nuance is a win for all parties,” said Ezra Perlman, a partner at Francisco Partners and board member at QuadraMed. “Together, Nuance and Quantim will be stronger than they have been separately, which will benefit Quantim’s customers and employees. We also look forward to continuing to support QuadraMed and contributing to its ongoing success.”
“Francisco Partners has been a great supporter of QuadraMed since 2010, and the sale of Quantim will enable QuadraMed to be an even more focused company going forward,” said Duncan James, CEO of QuadraMed. “We look forward to our continued relationship with Francisco Partners.”
Francisco Partners has solid experience in healthcare IT investing, having made eight platform investments and having acquired 17 healthcare IT companies in total since 2005. Francisco Partners acquired QuadraMed in 2010. QuadraMed will continue to focus on its healthcare software solutions for access and identity management, care management and revenue management.
About Francisco Partners
Francisco Partners is a leading global private equity firm that specializes in technology and technology-enabled services companies. Since its launch over a decade ago, FP has invested in more than 100 technology companies, making it one of the most active investors in the industry. The firm invests in transactions where its deep sub-sector knowledge and operational expertise can help companies realize their full potential. For further information, please visit: www.franciscopartners.com .
QuadraMed(R) is a leading provider of award-winning healthcare technologies and services that improve the safety, quality and efficiency of patient care. Founded in 1993, QuadraMed provides proven, flexible solutions that help make our clients successful by streamlining processes, increasing productivity, improving patient satisfaction and driving positive clinical outcomes. For more information, visit: www.quadramed.com .
QuadraMed is a registered trademark of QuadraMed Corporation. All other trademarks are the property of their respective holders.