StrataJazz ® is a single, modular, cloud-based platform that brings healthcare providers a “flywheel” to better plan, analyze and perform…driving margin to fuel their clinical mission. The Company’s advanced cost accounting platform has emerged as the solution of choice in the market.
The company provides seamless integration with existing EHR, ERP and EDW systems to leverage the organization’s existing infrastructure and investments. It is an enterprise-wide solution that addresses the financial planning, decision support and continuous cost improvement requirements of healthcare providers. Its solution StrataJazz ® is the leading cloud-based SaaS financial planning, analytics and performance platform in healthcare. View source version on businesswire.Started over 20 years ago, the story of Strata is about a group of passionate people hyper-focused on and hyper-committed to making a difference in healthcare. To learn more, visit Twitter, YouTube and It Takes A Community: The Allscripts Blog. Connectivity empowers caregivers to make better decisions and deliver better care for healthier populations. Our innovative solutions connect people, places and data across an Open, Connected Community of Health™. For more information, please visit About AllscriptsĪllscripts (NASDAQ: MDRX) is a leader in healthcare information technology solutions that advance clinical, financial and operational results. The Company’s headquarters are in Chicago, IL. The Company’s StrataJazz® application is a single integrated software-as-a-service platform that includes modules for capital planning, continuous improvement, contract modeling, cost accounting, cost management, decision support, financial forecasting, management reporting, operational budgeting and performance improvement and strategic planning. Founded in 1996, the Company’s customer base includes over 220 healthcare delivery systems. Strata Decision Technology provides an innovative cloud-based financial analytics and performance platform that is used by healthcare providers for financial planning, decision support and continuous improvement. RBC Capital Markets, LLC served as Allscripts’ exclusive financial advisor in connection with the sale of EPSi and Zeigler served as financial advisor to EPSi management.
The two companies will operate independently until the deal closes. Upon closing of the transaction, the EPSi customer base and associates will transition to Strata. Allscripts has owned the EPSi business since it acquired Eclipsys, Inc. The transaction is expected to close later this year, subject to regulatory approval and customary closing conditions. “This agreement is a triple win for EPSi customers and Allscripts shareholders as it allows us to efficiently recirculate capital, increase our focus on our core businesses, and bring our EPSi customers the benefit of continued investment under new and very strong ownership.” “Strata is a world-class company that will provide both an ideal and permanent home for EPSi,” said Rick Poulton, Allscripts President and Chief Financial Officer. The combination of Strata and EPSi will bring healthcare providers a set of innovative solutions and services to help them better plan, analyze and perform in support of providing care in the communities that they serve. COVID-19 has caused a significant increase in the cost of care coupled with major declines in both patient and procedure volume, creating what is seen as the biggest financial crisis in the history of healthcare. Hospitals and healthcare delivery systems were already under significant financial pressure with margins rapidly declining over the last few years. “Our focus will be to accelerate innovation to provide broader and deeper solutions to help our customers, deliver the highest service levels in the industry, and create the very best place to work in healthcare.” “By bringing these two outstanding companies together, we believe that we can build one of the most important companies in helping to solve the biggest problem in healthcare - the cost of it,” said Dan Michelson, Chief Executive Officer of Strata. EPSi is a leading provider of financial decision support and planning tools for hospitals and health systems. Strata Decision Technology (Strata), a pioneer and leader in the development of cloud-based financial planning, analytics and performance tools for healthcare, today announced that it has reached a definitive agreement to acquire EPSi from Allscripts (NASDAQ: MDRX) for $365 million.
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