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Modernizing Medicine to acquire gMed
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Modernizing Medicine Inc. has announced its agreement to acquire gMed Inc., according to a press release.
The transaction includes the acquisition of gMed’s electronic health record (EHR) system, endoscopy report writer, practice management solution, patient portal, data analytics tool and revenue cycle management, which the company expects will increase its share of the gastroenterology market, the release said.
“As a provider of [electronic medical record] systems plus billing, revenue cycle management and inventory management solutions for medical specialties, the acquisition of gMed fits Modernizing Medicine’s specialty-specific focus and strengthens our product portfolio,” Dan Cane, CEO and co-founder of Modernizing Medicine, said in the press release. “gMed’s gGastro product functionality complements our own EMA Gastroenterology EMR system and is compatible with our product development and growth strategy to be the industry’s foremost specialty-specific vendor.”
After customary closing conditions are fulfilled, the company expects the transaction to close in the third quarter of 2015, the release said.
“This acquisition aligns with our mission to offer the best gastroenterology-specific solutions and allows us to capitalize on our joint successes in the specialty EMR system market,” Joe Rubinsztain, MD, CEO and founder of gMed, said in the release. “We believe that blending our teams and areas of expertise will result in increasingly transformational products and services to better address the needs of more than 12,000 U.S. gastroenterologists and their staff.”
Rubinsztain will continue his role as gMed’s president and will join Modernizing Medicine’s senior management team after the transaction closes, according to the release.
“I have watched the rapid growth of Modernizing Medicine and admire the reputation the company has gained in the market with its cloud, mobile and data-driven third generation EMR system,” Rubinsztain said. “I expect this transaction to create greater benefits for end users and the most differentiating and comprehensive gastroenterology-specific products.”
Disclosure: Cane is an employee of Modernizing Medicine. Rubinsztain is an employee of gMed.