NASHVILLE, Tennessee (March 2015) — Bailey Southwell & Co., LLC (BSC) is proud to announce that HealthStream, Inc. (NASDAQ: HSTM), a leading provider of workforce development and research/patient experience solutions for the healthcare industry, has acquired HealthLine Systems, Inc. (HLS), a privately owned provider of products for credentialing, privileging, quality management, and contact center optimization. The transaction, with a purchase price of approximately $88 million in cash, closed on March 16, 2015.
HealthStream has long been a leader in providing talent management solutions to healthcare organizations. The addition of HLS expands its product portfolio geared at ensuring healthcare providers maintain a qualified workforce. Through this acquisition, HealthStream gains a comprehensive, installed or software-as-a-service (SaaS) solution for healthcare provider credentialing and privileging, allowing for improved workflow and process integration. The addition of the HLS product offerings to the HealthStream suite of solutions creates a product set that will help streamline the process for meeting Joint Commission, NCQA, and URAC requirements.
“Bailey Southwell & Co., our investment banking advisor in this transaction, played an important role in sourcing, structuring, negotiating, and closing a transaction that will enable us to add to our growing suite of talent management solutions,” said Robert A. Frist, Jr., Chief Executive Officer, HealthStream, Inc. “The expertise of the BSC team helped us bring this transaction to a close.”
About Bailey Southwell & Co.
Bailey Southwell & Co., LLC, founded in 2005, is a privately held investment bank with offices in Nashville, Tennessee and St. Louis, Missouri. BSC provides mergers and acquisition and capital raising advisory services to middle market companies. More information about BSC can be found at www.baileysouthwell.com.
HealthStream (NASDAQ: HSTM) provides a unified suite of software-as-a-service (SaaS) solutions contracted by approximately 4.3 million healthcare employees in the U.S. for workforce development, training & learning management, talent management, performance assessment, and managing simulation-based education programs. Based in Nashville, Tennessee, HealthStream has additional offices in Laurel, Maryland, Brentwood, Tennessee, Pensacola, Florida, Jericho, New York, and San Diego, California. For more information, visit www.healthstream.com or call 800-933-9293.
About HealthLine Systems, Inc.
HealthLine Systems provides specialized software solutions to assist healthcare organizations in meeting unique challenges with provider data management for credentialing and privileging, patient safety, quality assurance, and streamlined access through a contact center communication hub. HLS’ clients include over a thousand distinguished healthcare organizations in all 50 states, Canada, and Mexico. Incorporated in 1985, HLS is privately held and is based in San Diego, California. More information about HLS can be found at www.healthlinesystems.com.