HealthcareSource, a Woburn, Mass.-based, healthcare industry focused software company, has acquired 17-year-old NetLearning, a maker of learning management software for the healthcare industry. Terms of the acquisition aren’t being disclosed.
HealthcareSource(R), the leading provider of talent management software solutions for the healthcare industry, today announced that it has acquired NetLearning, a leading provider of learning management software and content for the healthcare industry. The combination of HealthcareSource and NetLearning results in the first company to provide a complete, end-to-end talent management solution designed specifically for healthcare. Combined with NetLearning, HealthcareSource now has more than 2,000 hospitals as clients, representing approximately 40% of all U.S. hospitals, and has more than 225 employees.
“Healthcare is undergoing transformation, and transformation and change starts with the workforce–hiring the right people and developing them effectively. Our clients have been very clear–they want an integrated suite of products that combines recruiting, performance, and learning with healthcare specific workflows and content,” said Peter Segall, President and CEO at HealthcareSource.
“The addition of NetLearning to the HealthcareSource product portfolio will allow us to continue to provide our clients with great software and content that solves common challenges in healthcare.”
NetLearning was formerly a division of Cengage Learning. Terms of the deal were not announced. Berkery Noyes acted as investment banker for NetLearning. NetLearning will become a division of HealthcareSource, maintaining offices in both Knoxville, TN and Clifton Park, NY.
NetLearning solutions include the NetLearning Learning Management System, NetCompetency for competency management, and an authoring tool. The Learning Management System is used by over 1.2 million healthcare workers to deliver, manage, and document more than 37 million educational activities every year. NetLearning course catalog includes over 4,000 courses, many of them developed by NetLearning.
“The fit is perfect. Our companies are very similar–both focused exclusively on healthcare, both developed close relationships with clients and both have maintained very high client satisfaction. The consistency of our business philosophy and company cultures will help make this an easy transition for clients and they will see the added benefit almost immediately,” said Will Passano, Vice President of NetLearning, A HealthcareSource Company. “Together we will help healthcare tackle transformation with solutions built to align talent with strategy.”
About NetLearning, A HealthcareSource Company
NetLearning is an e-learning solutions provider developing products specifically for the healthcare industry since 1995. The NetLearning product suite allows for the deployment, management, and reporting of training-related activities. NetLearning was a 2011 CODiE Finalist for the Best Professional Development Solution, eLearning Magazine 2011 Award of Excellence in the Best Learning Management System and Brandon Hall 2011 Silver Awards for Best Learning Management Technology and Best Results of a Learning Program.
With over 1,700 healthcare facilities as clients, HealthcareSource is the leading provider of talent management software for the healthcare industry. Through its cloud-based solutions, HealthcareSource helps healthcare organizations source, hire, assess, develop and retain the best workforce possible in order to reduce costs and to improve patient satisfaction and safety. The company’s talent management software solutions include applicant tracking, learning management, performance management, behavioral assessments, reference checking, physician recruiting, and candidate sourcing. A private corporation, HealthcareSource focuses exclusively on the healthcare industry and consistently earns high marks for client satisfaction and retention. HealthcareSource was named 2011 category leader for Talent Management by KLAS Research, 2012 Healthcare Informatics Top 100 and 2012 Deloitte Technology Fast 500.