|athenahealth Announces Acquisition of RazorInsights|
Transaction Cements athenahealth's Entrance Into the
Complementary Track Records in Cloud Innovation, Client Satisfaction, and Delivery of Clinical and Financial Results Combine to Rival Legacy Health Information Systems and EHR Offerings
athenahealth plans to leverage RazorInsights' inpatient expertise and award-winning technology to extend its presence into the 50-bed-and-under inpatient care environment, which accounts for approximately one-third of the U.S. hospital market. This move builds upon athenahealth's established position in the ambulatory space, where it serves more than 59,000 health care providers and has achieved Best in
"Today's hospital market is woefully underserved when it comes to IT systems and IT partners that are accountable for reducing costs, increasing quality, and enabling a better patient experience," said
Like athenahealth, a company with a long-standing commitment to supporting the needs of independent physician medical groups, RazorInsights got its start serving a struggling corner of the health care industry – one with an acute need for affordable and scalable EHR options. Today, both companies offer cloud-based solutions as an alternative to on-premise software implementations, which require large upfront and ongoing expenditures to install and operate.
"In light of pressures to consolidate, and in some cases, even shut down operations, there is a large and growing market for technologies and services that enable hospitals to deliver higher levels of patient care, reduce costs, and more effectively manage care at the population level. By teaming with athenahealth, we can accelerate our common vision to help health care provider organizations of all sizes remain independent and thrive despite market challenges," said
athenahealth expects the addition of RazorInsights to bring many advantages and synergies to complement and extend athenahealth's presence across the health care market, as well as speed the development of future solutions that can advance connectedness across all phases of the care continuum:
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About athenahealth, Inc.
athenahealth is a leading provider of cloud-based services for electronic health records (EHR), revenue cycle management and medical billing, patient engagement, care coordination, and population health management, as well as Epocrates and other point-of-care mobile apps. We connect care and drive meaningful, measurable results for more than 59,000 health care providers in medical practices and health systems nationwide. For more information, please visit www.athenahealth.com.
This press release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the anticipated benefits of the integration of RazorInsights' solutions with those of athenahealth, the nature of the prospective markets for those offerings, our progress towards advancements in care connectedness, and statements regarding changes in the health care industry and our positioning to lead such changes. The forward-looking statements in this release do not constitute guarantees of future performance. These statements are neither promises nor guarantees, and are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, the risks and uncertainties include, among other things: our fluctuating operating results; our variable sales and implementation cycles, which may result in fluctuations in our quarterly results; risks associated with the acquisition and integration of companies and new technologies to achieve expected synergies, including those related to our ability to successfully integrate the services and offerings of RazorInsights and realize the expected benefits; risks associated with our expectations regarding our ability to maintain profitability; the impact of increased sales and marketing expenditures, including whether increased expansion in revenues is attained and impacts on margins and profitability; changes in tax rates or exposure to additional tax liabilities; the highly competitive industry in which we operate and the relative immaturity of the market for our service offerings; and the evolving and complex governmental and regulatory compliance environment in which we and our clients operate. Forward-looking statements may often be identified with words such as "we expect," "we anticipate," "upcoming," "aim," or similar indications of future expectations. These statements are neither promises nor guarantees, and are subject to a variety of risks and uncertainties, many of which are beyond our control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. We undertake no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances, or otherwise. For additional disclosure regarding these and other risks faced by us, please see the disclosures contained in our public filings with the
[i] "2013 Best in KLAS Awards: Software & Services," January, 2014.© 2014
[ii] Low 2014 MU 2 Attestation Numbers Validate Need for Shortened Reporting Period in 2015. (2014,