Providence St. Joseph Health, a Renton, Washington-based health systems provider, has acquired Bluetree Network Inc., a healthcare IT consulting company from Madison, Wisconsin. Financial terms of the deal were not disclosed.
Bluetree, founded in 2012, has a client base of more than 140 health systems nationwide. Bluetree's 2017 revenue was $46.8 million, according to the Inc. 5000 list for 2018 and the company's three-year growth rate was 216 percent, Inc. said at the time.
Bluetree focuses on Epic Systems, a healthcare software and electronic health record (EHR) platform provider. Not by coincidence, Providence St. Joseph Health ranks among the largest Epic customers in the world.
Jeremy Schwach, CEO of Bluetree, commented on the deal:
“By joining Providence St. Joseph Health, Bluetree will be able to help even more health care organizations maximize the power of technology. Bluetree has always focused on helping health care organizations better care for their patients. By tapping into the Providence St. Joseph Health platform and their thousands of dedicated and talented providers, we will be able to increase the speed by which we bring new innovations to our clients.”
Healthcare IT Services: More Mergers and Acquisitions
Mergers and acquisitions within the healthcare IT services community has been steady. Among the deals ChannelE2E has tracked:
- April 2019: Medicus IT (MIT) acquired CompuTech City (CTC), an MSP headquartered in Orlando, Florida.
- January 2019: CompassMSP bought TS Tech Enterprises, a Pennsylvania-area MSP that supports dental practices.
- December 2018: CareWorx and Fully Managed merged.
- June, 2018: Netgain Technology acquired iManaged Solutions, a healthcare MSP.
- June 2018: FutureTech Holding (FTH) acquired A2U, a healthcare-focused IT solutions provider, MSP and consultancy in Pittsburgh, Pennsylvania.
- May 2018: Healthcare consulting and services firm Cumberland Consulting Group acquired LinkEHR, an Electronic Health Records (EHR) managed services firm.
- March 2018: CareWorx, an MSP focused on senior healthcare facilities, closed a $17 million round of funding from Kayne Partners.