Picis, a Wakefield, Mass.-based developer of healthcare information systems for hospital intensive-care units and emergency departments, has entered into an agreement to buy Lynx Medical Systems, a Bellevue, Wash.-based provider of documentation and revenue-management services and products to healthcare companies.
Terms were not disclosed, but Picis also announced that it had obtained $155 million from Goldman, Sachs & Co. and a portion of that amount will be used to help fund the deal, which is expected to close "later this summer," a news release said.
Last summer, Picis announced that it had filed a registration statement with the Securities and Exchange Commission in anticipation of a public offering of up to $86.3 million in common stock. Goldman, Sachs & Co. was among the firms working on the offering. Earlier this month, however, Picis announced that it had pulled its registration statement for the proposed initial public offering. The company said it was re-evaluating the timing of its IPO and that it was "pursuing certain time-sensitive market opportunities."
Founded in 1984, Lynx was purchased by the Francisco Partners investment firm in late 2005.