LOS ANGELES, Sept. 7, 2006 (PRIMEZONE) -- AssistMed, Inc. today announced it has completed the acquisition of Nashville-based UBI Healthcare Solutions, LLC, expanding the company's focus to include management solutions for the nursing industry. Terms were not disclosed.
UBI Healthcare's core software system, CareerPACE (Performance-based Advancement Competency Evaluation), was developed, in part, through a collaborative association with Vanderbilt University's Office of Technology Transfer. Its primary application is an on-line, four-tiered performance-based system designed to facilitate career advancement for nursing professionals by enhancing work environments and improving nurse morale and loyalty. The system also enables hospitals to more effectively manage staffing requirements across multiple clinical settings.
"The acquisition represents an ongoing focus to expand the company's extensive suite of clinical-documentation solutions with related technologies to improve the delivery and practice of healthcare. In addition, by combining a performance evaluation and management system with an online learning center, nursing professionals are better able to manage their career development and advancement potential," said Leonardo Berezovsky, M.D., chairman and chief executive officer of AssistMed, Inc.
"The integration of UBI Healthcare's human-capital management software with AssistMed's core electronic health record (EHR) technology offers innovative and powerful tools to support continuous quality improvement within the healthcare industry, and we look forward to expanding the utilization of our products to support careers and the delivery of healthcare," said Shawn Mathis, chairman and chief executive officer of UBI Healthcare Solutions.
"The collaborative work of AssistMed and UBI Healthcare represents an important juncture in the evolution of medical technology -- offering the most comprehensive, EHR-compatible, human capital management and education development technology in the market," said Jeff McCormack, Ph.D., UBI Healthcare Solutions' cofounder and chief academic officer.
Galen Capital Group, a private middle-market merchant banking firm dedicated to the healthcare industry, with offices in McLean, VA, Southern California and Nashville, TN, represented AssistMed in the transaction.
Berezovsky highlighted AssistMed's acquisition of AssistMed Canada, Inc., a wholly owned subsidiary of Toronto-based Cogient Corporation, late last year as an example of the company's strategy to enhance the organization's position as the leading provider of total solutions for clinical documentation and supportive electronic health record-related applications. "With the addition of UBI Healthcare's systems and resources, AssistMed has further established itself as a leader in an industry that offers tremendous benefits to patients, medical professionals and healthcare organizations -- leveraging information technology to increase quality and reduce the cost of healthcare," Berezovsky added.
About AssistMed Inc.
Headquartered in California, AssistMed is an enterprise systems integrator, developer and provider of online transcription and electronic health record application services utilized by physicians, hospitals, payers, and research organizations. Additional information is available at www.assistmed.com