Information technology firm Misys of the U.K. continued its plan to shed healthcare IT assets by announcing the sale of its Diagnostic Information Systems business to a San Francisco-based venture capital firm.
Misys said it has reached an agreement to sell the Tucson, AZ-based division to Vista Equity Partners for $381.5 million. The division had annual revenues of $162.9 million, operating profit of $47.4 million, and employs 750 people.
Misys said it is planning to shed the division, as well as its computerized patient record (CPR) operations, to focus on operations in the ambulatory and connected community settings. The division has its roots in Misys' purchase of information systems developer Sunquest Information Systems in 2001 for $404 million.
Misys said that the purchasers of the Diagnostic Information Systems and CPR businesses will act as resellers of the company's Misys Connect hospital connectivty system. Vista will also sell Misys electronic medical record (EMR) software as its preferred EMR offering for ambulatory physicians.
By AuntMinnie.com staff writers
July 24, 2007
Related Reading
QuadraMed bids to buy Misys CPR assets, July 24, 2007
Misys awarded EMR contract, June 12, 2007
Misys teams up with Connecticut physician network, June 6, 2007
Misys forms partnership with CSMS, June 4, 2007
Misys names Reider as medical director, May 17, 2007
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