CompuGroup targets US market in buyout

German software company, CompuGroup Medical, has signed an agreement to purchase US company, Visionary Healthware Group.

The group, which includes American Healthcare Holdings, Visionary Medical System and Visionary RCM, is a provider of practice management software and electronic health records to more than 10,000 GPs in the US.

The company also provides laboratory information systems and revenue cycle management services across Europe.

CompuGroup will purchase 100% of the group’s shares, with the initial purchase price being financed through cash-at-hand and new long-term debt. The shares of Visionary Healthware Group will be held by CompuGroup Holding USA, a wholly-owned entity of CompuGroup Medical AG.

CompuGroup has been targeting the US health market over the past year following the announcement of the government’s Healthcare Information Technology Economic and Clinical Health Act (HITECH) stimulus.

Frank Gotthardt, chairman of the board of CompuGroup Medical AG, said: "The US is a core market for CompuGroup Medical. With the network of doctors now served through Noteworthy and Visionary we are quickly moving up the ranks of healthcare IT companies in USA.

“I am particularly excited about this accelerating development and l repeat our commitment to do everything in our power to make the United States a key future market for CompuGroup Medical."

Link: CompuGroup