QuadraMed, a provider of information technology services for the healthcare industry and a portfolio company of Francisco Partners, has entered into an agreement to sell its Quantim business division to Nuance Communications.
“Francisco Partners has been a great supporter of QuadraMed since 2010, and the sale of Quantim will enable QuadraMed to be an even more focused company going forward,” said Duncan James, CEO of QuadraMed. “We look forward to our continued relationship with Francisco Partners.”
Quantim provides ICD-10 compliant, single-platform health information management technology and services that streamline coding and compliance within a healthcare provider’s workflow and allows for the improved management of clinical quality and reporting. The company is based in Weston, VA (www.quadramed.com/solutions).
QuadraMed is a provider of healthcare technologies and services that improve the safety, quality and efficiency of patient care. Francisco Partners acquired QuadraMed in 2010. QuadraMed will continue to focus on its healthcare software solutions for access and identity management, care management and revenue management. QuadraMed was founded in 1993 and is based in Weston, VA (www.quadramed.com).
Francisco Partners pursues investments in technology companies with transaction values ranging from $50 million to $2 billion. Transaction structures include buyouts, divisional divestitures, recapitalizations, restructurings and growth equity financings. Francisco Partners is headquartered in San Francisco (www.franciscopartners.com).
“The strategic sale of Quantim to Nuance is a win for all parties,” said Ezra Perlman, a partner at Francisco Partners and board member at QuadraMed. “Together, Nuance and Quantim will be stronger than they have been separately, which will benefit Quantim’s customers and employees. We also look forward to continuing to support QuadraMed and contributing to its ongoing success.”
© 2012 PEPD • Private Equity’s Leading News Magazine • 9-28-12