CPSI Announces Divestment of American HealthTech to PointClickCare
18 January 2024 - 1:00AM
Business Wire
CPSI (NASDAQ: CPSI), a healthcare solutions company, today
announced that the Company has divested its subsidiary, American
HealthTech, Inc. (AHT), a leading provider of electronic health
record (EHR) solutions to the post-acute care market, to
PointClickCare. Based in Toronto, Canada, PointClickCare is a
leading healthcare technology platform serving long-term and
post-acute care providers across North America.
Chris Fowler, president and chief executive officer of CPSI,
stated, “As part of our ongoing business transformation, we have
made the decision to divest AHT and therefore discontinue
development of the AHT product. We believe PointClickCare is an
ideal partner for existing AHT customers due to PointClickCare’s
high level of service and exclusive focus on delivering EHR
solutions for the post-acute care markets. PointClickCare and AHT
share similar cultures and values, making this an ideal fit for
AHT, its clients and employees. We are confident this transaction
will benefit our post-acute clients and support their objective to
continue to deliver the highest quality of care.”
“With a more focused strategy, we can build upon our strong
foundation and continue to pursue new market opportunities that
deliver greater value to our clients, communities, and
shareholders. We remain committed to supporting providers across
the care continuum with our proven RCM and EHR solutions that
improve the financial health of healthcare organizations, enhance
the delivery of quality care, and promote engagement between
providers and patients,” added Fowler.
About CPSI
CPSI has over four decades of experience in connecting
providers, patients and communities with innovative solutions that
support both the clinical and financial side of healthcare
delivery. We provide business, consulting, and managed information
technology (IT) services, including our industry leading HFMA Peer
Reviewed® suite of revenue cycle management (RCM) offerings, to
help streamline day-to-day revenue functions, enhance productivity,
and support the financial health of healthcare organizations. Our
patient engagement solutions provide patients and providers with
the critical information and tools they need to share existing
clinical data and analytics that support value-based care, improve
outcomes, and increase patient satisfaction. We support efficient
patient care across an expansive base of community hospitals with
electronic health record (EHR) product offerings that successfully
integrate data between care settings. We make healthcare accessible
through data-driven insights that support informed decisions and
deliver workflow efficiencies, while keeping patients at the center
of care. We are a healthcare solutions company. We clear the way
for care. For more information, please visit www.cpsi.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the “safe harbor” provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking
statements can be identified generally by the use of
forward-looking terminology and words such as “expects,”
“anticipates,” “estimates,” “believes,” “predicts,” “intends,”
“plans,” “potential,” “may,” “continue,” “should,” “will” and words
of comparable meaning. Without limiting the generality of the
preceding statement, all statements in this press release relating
to the Company’s ongoing business transformation, including the
anticipated benefits to the Company of the divestment of AHT,
together with other statements regarding the Company that are not
historical facts, are forward-looking statements. We caution
investors that any such forward‑looking statements are only
predictions reflecting the best judgement of the Company based upon
currently available information and are not guarantees of future
performance. Certain risks, uncertainties and other factors may
cause the Company’s actual results, performance or plans to differ
materially from those projected in the forward‑looking statements.
Such factors may include: risks associated with the Company’s
business strategy, including that the Company may not be successful
in pursuing new market opportunities and delivering value to
clients, communities and shareholders; unexpected costs,
liabilities, charges or expenses resulting from the Company’s
divestment of AHT; risks related to future opportunities and plans
for the Company following the divestment of AHT, including
uncertainty of the expected financial performance and results of
the Company following the closing of the divestment; any
disruptions from the divestment of AHT, making it more difficult to
conduct business as usual or maintain relationships with customers,
employees or suppliers; the inability to retain key personnel; and
the possibility that if the Company does not achieve the perceived
benefits of the divestment as rapidly or to the extent anticipated
by financial analysts or investors, the market price of the
Company’s common stock could decline; and other risk factors
described from time to time in our public releases and reports
filed with the Securities and Exchange Commission, including, but
not limited to, our most recent Annual Report on Form 10-K and our
Quarterly Report on Form 10-Q for the quarter ended March 31, 2023.
We also caution investors that the forward-looking information
described herein represents our outlook only as of this date, and
we undertake no obligation to update or revise any forward-looking
statements to reflect events or developments after the date of this
press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20240116135635/en/
Tracey Schroeder Chief Marketing Officer
tracey.schroeder@cpsi.com (251) 639-8100
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