QHR Technologies, a company based in Kelowna, British Columbia, specializing in electronic health records and healthcare financial software for Canadian hospitals and doctors offices, has agreed to pay 5 million Canadian dollars ($4 million) to acquire the financial software division of Momentum Healthware, Winnipeg, Manitoba.
The deal, subject to investor approval and customary closing conditions, is expected to be completed by the end of January, according to a news release.
Terms of the agreement call for Momentum founder Charles LaFleche to join QHR and continue as a managing executive of the software product. The division will remain in Winnipeg. The purchase is expected to add CA$3.5 million to QHRs revenue for 2009.