HealthStream, Nashville, said it acquired the Jackson Organization, Laurel, Md., a provider of survey and research services to healthcare organizations, for $12.7 million in cash and stock.
HealthStream said it will combine the new acquisition with its own data management and research unit in a newly named division, HealthStream Research. The combined operations have about 1,100 clients, or about 22% of the nations acute-care hospitals, HealthStream said. The acquisition will add as much as $10 million in revenue in 2007, boosting publicly traded HealthStreams expectations for 2007 revenue to roughly $45 million.
David Jackson, president and chief executive officer of the Jackson Organization, will become a consultant to HealthStream. The Jackson Organizations employees will continue to work out of their Laurel office, HealthStream said. -- by Vince Galloro