HealthStream (Nasdaq: HSTM), a Nashville, Tenn.-based provider of workforce and provider solutions for the healthcare industry, acquired ComplyALIGN (incorporated as ProcessDATA, Ltd.), a Chicago-based healthcare technology company.
HealthStream acquired all of the issued and outstanding equity of ProcessDATA, Ltd. (ComplyALIGN) for approximately $2.0m in cash, subject to customary purchase price adjustments.
Through the acquisition, HealthStream gains a SaaS-based policy management system for healthcare organizations. Led by Albert Jurkiewicz, Chief Executive Officer and founder, ComplyALIGN provides products that are used by over 200 healthcare facilities, including over 150 hospitals. The company also does business as HospitalPORTAL, which focuses on hospital intranet solutions that integrate with its policy management system.
Led by Robert A. Frist, Jr., Chief Executive Officer, HealthStream provides a unified suite of solutions contracted by healthcare organizations across the U.S. for workforce development, training & learning management, talent management, credentialing, privileging, provider enrollment, performance assessment, and managing simulation-based education programs. The company has additional offices in Jericho, New York; Boulder; Colorado; Denver, Colorado; San Diego, California; Chicago, Illinois; Portland, Oregon; and Raleigh, North Carolina.