Streamline Health® Expands SaaS Portfolio Through Acquisition of Avelead
Projected Accretive Acquisition To Expand Capabilities To Improve Healthcare Providers’ Revenue Cycle Performance
Terms of the deal include closing cash and stock consideration valued at
“We are pleased to add Avelead’s talented team and innovative technologies to our growing company,” stated Tee Green, President and Chief Executive Officer,
We believe this acquisition accelerates our responsiveness to the market and amplifies our ability to proactively develop technologies to improve revenue cycle performance, imperative in a world where the complexities of healthcare provider documentation, coding and billing continue to increase.”
“We have enjoyed significant growth since starting our company in 2014,” stated
Following the acquisition, Avelead will be referred to as Avelead, a
Streamline is acquiring Avelead on a cash-free and debt-free basis subject to customary post-closing adjustments for working capital, cash, debt and transaction expenses. Terms of the acquisition include closing consideration of
Capital Clarity served as the exclusive financial advisor to Streamline and assisted in structuring and negotiating the transaction on its behalf.
For more information, please visit our website at www.streamlinehealth.net.
Avelead provides innovative technology solutions that automate and improve revenue cycle in healthcare. Avelead’s SaaS cloud-based platform provides hospitals and health systems with solutions focused on key areas of Revenue Cycle:
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995
Statements made by Streamline that are not historical facts are forward-looking statements that are subject to certain risks, uncertainties and important factors that could cause actual results to differ materially from those reflected in the forward-looking statements included herein. Forward-looking statements contained in this press release include, without limitation, statements regarding Streamline's acquisition of Avelead. These statements are subject to various risks and uncertainties, many of which are outside our control, including, among others, the potential failure to realize the intended benefits from the acquisition of Avelead, including, without limitation, the inability to realize the anticipated cost synergies in the anticipated amounts or within the contemplated timeframes and the inability to realize the anticipated revenues, expenses, earnings and other financial results. Additional factors that could cause actual results to differ materially from forward-looking statements include, but are not limited to, the timing of contract negotiations and execution of contracts and the related timing of the revenue recognition related thereto, the potential cancellation of existing contracts or clients not completing projects included in the backlog, the impact of competitive solutions and pricing, solution demand and market acceptance, new solution development and enhancement of current solutions, key strategic alliances with vendors and channel partners that resell Streamline's solutions, the ability of Streamline to control costs, the effects of cost-containment measures implemented by Streamline, availability of solutions from third party vendors, the healthcare regulatory environment, potential changes in legislation, regulation and government funding affecting the healthcare industry, healthcare information systems budgets, availability of healthcare information systems trained personnel for implementation of new systems, as well as maintenance of legacy systems, fluctuations in operating results, effects of critical accounting policies and judgments, changes in accounting policies or procedures as may be required by the
Source: Streamline Health Solutions, Inc.