Healthcare organization GPMF Holdings has acquired Liberty Fox Technologies, a software application developer and consultancy from Philadelphia, Pennsylvania. Financial terms were not disclosed.
This is M&A deal 288 that ChannelE2E has covered so far in 2020. See the complete M&A deal list here.
GPMF has been working to expand its national healthcare IT ecosystem. GPMF’s family of companies includes:
- VertitechIT, an infrastructure design and implementation firm; Nectar, a digital health strategy consulting company;
- managed services provider baytechIT; and
- akiro, which offers healthcare financial and business advisory services; as well as Liberty Fox.
Liberty Fox Technologies leverages analytics, automation, and cloud technologies to create customized software applications for EMR (electronic medical record), CRM (customer relationship management), and business intelligence processes. The company has drawn attention for its work with blockchain, while its revenue cycle management applications provide end-to-end automated workflow solutions. Liberty Fox has been rebranded as "Liberty Fox Technologies, a GPMF Holdings Company."
GPMF Holdings is headquartered in western Massachusetts with offices in Vermont, Connecticut, central Pennsylvania, Florida, Tennessee, and Washington.
Liberty Fox Acquisition: Healthcare Focused
GPMF Holdings CEO Michael Feld, commented on the deal:
“Many software application developers in our industry are cookie-cutter, ‘tell me what you want and we’ll build it’ kinds of companies. The folks at Liberty Fox are different and their approach, to embed themselves within a client’s business, is a shared value among the GPMF family.”
Liberty Fox CEO Bill Evans added:
“We were really attracted to GPMF’s focus in the healthcare space. We’ve had at least one active healthcare client relationship every year for the last decade and together we have combined capabilities totaling 70 to 100 years of experience whether it’s networking, engineering, managed services, revenue cycle and legal compliance, or the focus on the clinical process. That’s a powerful combination.”
Healthcare M&A
With compliance issues like HIPAA and electronic health records at the core of their business, medical practitioners require specific IT needs. This can make it difficult for channel partners to gain entry into the sector.
However, doctors, clinics, imaging centers, dental practices, and other healthcare facilities also require outsourced IT work. As a result, a growing number of healthcare-focused MSPs have been involved in M&A deals.
ChannelE2E has compiled a list of all healthcare MSPs involved in mergers and acquisitions.
