QuadraMed Corp. has completed its previously announced acquisition of Misys Healthcare System's computerized patient-record product, the company announced.
The assets were purchased for $33 million in cash and allow Reston, Va.-based QuadraMed to compete for clinical information systems business in large hospitals, officials said in a news release. Misys CPR initially will be renamed QuadraMed CPR. The patient-record product will be aligned with QuadraMed's revenue-cycle solutions.
About 135 Misys employees have been offered employment and will move to offices in New York and San Bernardino, Calif. QuadraMed has about 750 employees and more than 2,000 healthcare provider facilities. The company this morning was selling for $2.90 per share on the American Stock Exchange.