Almost 80 percent of M*Modal's outstanding shares have been tendered to One Equity Partners, the JPMorgan subsidiary that is buying the Franklin-based clinical documentation provider for more than $1 billion. The acquisition is set to close by the end of this week — a scant 45 days after being announced.
The sale of clinical documentation provider M*Modal to JPMorgan's One Equity Partners is progressing: The companies filed papers Monday saying they had, among other things, secured $505 million in funding from Bank of America, Royal Bank of Canada and SunTrust. On Tuesday, they followed up with another piece of the financing puzzle, the sale of $250 million of seven-year debt.
Health care enterprise software company OnFocus has signed a contract to network the eight facilities under the umbrella of Orlando Health in Central Florida. The news comes two weeks after OnFocus execs said they had hooked up with hospital systems in Illinois and Pennsylvania.
The Tennessee chapter of the Healthcare Information Management Systems Society has installed a new set of officers for the coming year, led by President Brian Moyer of Brentwood-based Novas Technology Group, pictured here. Check out the whole group here and spare a thought for Teknetex CEO John Kepley, the group's VP of membership until next July. He will have a tough act to follow: The state HIMSS chapter boosted its member base by 65 percent to more than 1,400 people this past year.
Health care IT venture Care Technology Systems has hired a vice president of sales to help it reach customers for its montoring device for stay-at-home seniors. Jonathan Barnes comes to year-old Care Technology Systems — which is led by former Change Healthcare principal Robert Hendrick — after spending 12 years at Maryland-based Maxim Healthcare Services.