Streamline Health Solutions, which develops content management and business analytics technology, has acquired New York City-based Meta Health Technology, a provider of health information management solutions for hospitals, physician group practices and other providers.
Streamline Health acquired the outstanding capital stock of Meta for approximately $15 million, officials say.
"The acquisition of Meta, with its outstanding reputation in the health information management (HIM) space, represents the continuation of our ongoing growth strategy," said Robert E. Watson, president and CEO of Streamline Health Solutions.
The deal, which comes less than a year after Streamline's December 2011 acquisition of Atlanta-based Interpoint Partners, a revenue cycle management and business intelligence firm, is aimed to help Streamline's healthcare clients make the switch to ICD-10, said Watson.
"The Meta suite of solutions, when bundled with our existing solutions, will help current and prospective clients better prepare for this challenge," he said. "In addition, the pending release of a computer-assisted coding solution (CAC) will place Streamline Health at the core of addressing the complexities of the ICD-10 transition."
Eli Nahmias, president and CEO of Meta Health Technology, said his firm's acquisition by Streamline was a "natural progression" after 34 years of growth. "In addition to implementing our software at a client's site, we will now be able to offer it on a Software-as-a-Service (SaaS) basis, which will eliminate the need for a hospital to invest time and resources in implementation."