AdvancedMD, a cloud-based EHR and practice management system dedicated to independent physicians has entered into a definitive agreement to be acquired by global investment firm Marlin Equity Partners for an undisclosed sum. Closing of the transaction is expected in the third or fourth quarter of calendar 2015 and is subject to customary closing conditions, including the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act.
AdvancedMD offerings includes a fully-integrated EHR, practice management, patient relationship management, as well as big data reporting and business intelligence tools designed to automate and optimize workflow in all areas of the practice. The company serves an expansive national footprint of more than 17,500 practitioners and 500 medical billing companies.
Under terms of the acquisition, Raul Villar, ADP AdvancedMD president, will continue as CEO of the independent company following a 26-year career with ADP as a corporate vice president.
“We are thrilled to take the next step in our extraordinary journey of providing medical practices the freedom to remain independent,” said Raul Villar in an official statement. “AdvancedMD was the pioneer in cloud solutions for medical practices and today we are the largest provider of clinical and financial solutions to small, independent medical practices. Marlin Equity Partners is a perfect fit for AdvancedMD as Marlin is committed to our vision of enabling medical practices to increase cash flow, reduce administrative burden and improve patient care. Under Marlin ownership we are well positioned to accelerate product investment and will continue to deliver best-in-class implementation and service to our loyal clients and partners.”
