Middle market private equity firm GI Partners and Allscripts Healthcare Solutions Inc. (Nasdaq: MDRX) have teamed up to acquire health care software provider Netsmart Technologies Inc. from Genstar Capital in a $950 million deal. Allscripts will merge Netsmart with its homecare software business and will operate the target through a joint venture with GI.
Netsmart, founded in 1968 and based in Overland Park, Kansas, provides health care software to more than 20,000 organizations. Its technology is designed to help providers manage electronic medical records, billing and patient care. Netsmart’s clients include behavioral health facilities and public health departments.