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Picis To Buy Lynx

Picis Inc., a Wakefield, Mass.-based provider of healthcare software for high-acuity areas of the hospital, has agreed to acquire Lynx Medical Systems, a Bellevue, Wash.-based provider of revenue cycle management solutions to hospital emergency departments. No financial terms were disclosed, except that Goldman Sachs will partially finance the deal through an equity investment in Picis and a senior debt issue. Picis shareholders include Brown Brothers Harriman and Camden Partners, while Lynx was acquired in January 2006 by Francisco Partners. Picis had been in registration for an estimated $86 million IPO, but withdrew those plans earlier this month. The company has since then announced it has raised $155 million in a private placement comprised of stock and debt from Goldman Sachs & Co. www.picis.com www.lynxmed.com