Eclipsys Corp., The Outcomes Company, and MediNotes Corp. today announced the signing of a definitive agreement for Eclipsys to acquire MediNotes, a privately held industry leader in physician practice information solutions.
As a result of the transaction, MediNotes will become a wholly owned subsidiary of Eclipsys, who will pay a total of approximately $45 million in the transaction. This figure consists of 39 percent cash and 61 percent Eclipsys common stock, in exchange for the acquisition of MediNotes and retirement of certain arrangements surviving from the acquisition by MediNotes of the business of Bond Technologies, LLC, and affiliates this past February.
Based in West Des Moines, Iowa, MediNotes has installed practice management and electronic medical record (EMR) solutions in more than 5,000 medical practices across the U.S.
Once completed, the acquisition of MediNotes will expand, but not replace, the current Eclipsys solution portfolio.
The transaction is expected to close within approximately 30 days, following satisfaction of customary conditions.
