Medical technology provider Computer Programs and Systems Inc. (Nasdaq: CPSI) is adding health care software company Healthland Holding Inc. from Francisco Partners for $250 million in cash and stock.
The purchase includes Healthland’s American HealthTech Inc. and Rycan Technologies Inc. subsidiaries. Healthland provides software to rural and community hospitals that help them manage finances, along with patient data and medical records, designed to improve treatment and results. Francisco acquired Healthland in 2007. CPSI is paying 65 percent cash and 35 percent in common stock. Under Francisco’s tenure, Healthland purchased American HealthTech in 2013 and Rycan in 2015.