Vista Private Equity Partners Buys Sage Healthcare Medical Records System for $30 Million From UK Software Conglomerate
Posted Sep 22 2011 10:06pm
Sage is located in the UK and has grown with the purchase of many acquisitions over the years to include the healthcare division with a north American operation providing a Certified medical records system that qualifies doctors for stimulus incentives.
Vista Equity Partners has 3 locations in the US and already has a few managed healthcare companies in their portfolio. Sage has been around selling medical records in the US for quite a while. BD
Sept. 22 (Bloomberg) -- Vista Equity Partners, a private- equity firm focused on enterprise software and technology businesses, agreed to buy Sage Group Plc’s U.S. healthcare division.
The sale of Sage Software Healthcare, which offers practice management and electronic health-record offerings, is expected to be completed in November, the U.K. company said in a statement. Sage will make a loss of up to 70 million pounds ($108.4 million) through the sale and redistribute cash proceeds of $320 million to shareholders by buying back shares.