MISYS HEALTHCARE AND iMEDICA CORPORATION SIGN STRATEGIC AGREEMENT TO ACCELERATE HEALTHCARE IT ADOPTION
Misys plc, the global software and solutions company, today (28 August 2007) announces that Misys Healthcare Systems and iMedica, an emerging leader and developer of healthcare software solutions for small physician practices, have signed a strategic agreement to drive greater adoption of healthcare IT in the United States. Under terms of the agreement, Misys will license iMedica’s innovative electronic health record (EHR) and practice management (PM) solutions as the foundation for a new family of physician offerings focused on small practices. Misys will pay an aggregate $13m in cash to iMedica, $8m for a minority equity stake in the company and $5m for licensing technology that will serve as the foundation for new physician offerings. Misys will also gain a seat on the Board of iMedica.
Initial products, including Application Service Provider (ASP) service offerings, which help physicians reduce the cost and complexity of deploying healthcare IT, will be announced in November 2007. These new offerings will complement the existing Misys suite of solutions, including Misys Vision, Misys Tiger, Misys EMR and Misys Payerpath. As part of this strategic agreement, iMedica will also act as a reseller of Misys’ Payerpath services to its existing and future customers.
This agreement with iMedica is consistent with Misys’ strategy of focusing on the ambulatory sector and delivering offerings, such as ASP, which customers in the small physician practice segment are embracing.
Mike Lawrie, Misys plc Chief Executive said: “This agreement is an important next step in executing our strategy and will enable us to get new solutions into the marketplace quickly, filling portfolio gaps that we had previously identified. Combining our experience and service offerings with iMedica’s innovative solutions will allow us to deliver real value for small physician practices, an area of the market which has great potential for growth.”
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Founded in 1998, iMedica is an innovator in the development of electronic health records and practice management solutions for physician practices. Based on its comprehensive study of physician practice workflow and extensive consultations with practicing physicians, iMedica has developed Patient Relationship Manager™ (PRM), a single application EHR and PM solution that utilizes Microsoft’s latest .NET technology. iMedica’s replication technology enables backup, recovery and accessibility as well as the ability to customize and manage the solution with minimal IT staff intervention. iMedica PRM’s unique template-free design that adapts to a physician’s workflow, continues to set the benchmark for ease of use and deployment, speed and portability for the physician office. For more information, visit www.imedica.com.
Misys Healthcare delivers integrated, comprehensive solutions that improve results for healthcare practitioners. Drawing on our decades of healthcare experience, our relationships with more than 100,000 healthcare professionals, and our commitment to customer success, we deliver innovative software and services that enable physicians, caregivers, and a connected healthcare community. Misys Healthcare: Experience, Solutions, Results. Contact us today, visit www.misyshealthcare.com.
Misys plc (FTSE: MSY.L), provides integrated, comprehensive solutions that deliver significant results to organisations in the financial services and healthcare industries. We maximise value for our customers by combining our deep knowledge of their business with our commitment to their success.
In banking and treasury & capital markets, Misys is a market leader, with over 1,200 customers, including all of the world’s top 50 banks. In healthcare, Misys is a market leader, serving more than 110,000 physicians in 18,000 practice locations, 1,200 hospitals and 600 home care providers. Misys employs around 5,500 people who serve customers in more than 120 countries.
We aspire to be the world’s best application software and services company, delivering results for the most important industries in the world.
Misys: Experience, Solutions, Results
