por Gus Iversen
, Editor in Chief | December 03, 2020
Change Healthcare announced this week that it sold its Capacity Management business to HealthStream, a leading provider of workforce and provider solutions for the healthcare industry.
“The sale of the Capacity Management business aligns with our strategy to concentrate on the primary areas of our business to achieve the best outcomes for our customers through the power of the Change Healthcare platform,” said Neil de Crescenzo, president and CEO, Change Healthcare. “By placing the Capacity Management business with HealthStream, an innovator with a successful track record, it will be able to carry on its important work within an organization that will continue to support its core mission and strategies.”
Change Healthcare’s Capacity Management business is a leader in its market, with a focus on nurse staffing, improving patient flow, and predictive modeling for patient demand to help hospitals become more efficient. Notable products in the Capacity Management portfolio include ANSOS, Enterprise Visibility, and Capacity Planner. The ANSOS application is contracted by over 300 hospitals and health systems
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In its own statement, HealthStream said it will pay approximately $67.5 million for the business and expects the acquisition to be accretive to the company's overall financial results on pro forma basis, excluding deferred revenue write-down.
The addition of Change Healthcare’s staff scheduling business will expand HealthStream’s growing portfolio of solutions for staff scheduling and workforce management, which began in early 2020 with the acquisition of NurseGrid, and grew further with the acquisition of ShiftWizard last month.
Approximately 90 employees from Change Healthcare will join HealthStream upon closing.
The sale is subject to customary closing conditions and is expected to be completed in the coming weeks.