Streamline Health to acquire two companies

By VCPOST Staff Reporter

Nov 15, 2013 05:16 AM EST

Streamline Health Solutions Inc announced the planned acquisition of two companies in the healthcare arena. The company had already signed the letters of intent for the acquisition deals. This was according to a press release published by Reuters today.

Streamline Health is a company that provides knowledge management solutions for health service providers. The firm is based in Atlanta, Georgia, according to its company profile.

The goal of the two acquisitions is to augment Streamline Health's existing solutions for patient care. Specifically, Streamline Health aims to add patient access and scheduling capacities to its existing solution. Another goal is to add financial and operational analytics to the company's services. The said transactions are still subject to customary closing conditions and approval, said the report.

The first transaction is expected to close by the end of 2013. According to the letter of intent, Streamline Health expects to pay approximately USD6.5 million in cash for this target company. The second transaction is expected to close either by the end of this year of in the first quarter of 2014. The letter of intent said Streamline Health anticipates would pay about USD13.75 million in combined cash and shares of its common stock.

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