– NextGen Healthcare acquires Topaz Information Solutions, a provider that develops custom healthcare technology solutions for behavioral health and social services organizations.
– The acquisition will strengthen NextGen’s market penetration in the behavioral health market.
NextGen Healthcare, a provider of ambulatory-focused technology solutions announced it has acquired Topaz Information, L.L.C., known as Topaz Information Solutions, a healthcare solutions company dedicated to meeting the needs of behavioral health and social services organizations. With this acquisition, NextGen Healthcare is well-positioned to improve the delivery of integrated and collaborative care in the behavioral health market, potentially reducing the cost of caring for millions of Americans while improving outcomes.
Topaz Information Solutions Background
Founded in 2000 by two large, community-based behavioral health organizations, Topaz Information Solutions develops custom healthcare technology solutions for behavioral health and social services organizations. The idea for Topaz Information Solutions was born from a need for electronic clinical components and documentation geared toward behavioral health and integrated healthcare providers.
NextGen Behavioral Health Suite NextGen Behavioral Health Suite enables organizations to deliver integrated and collaborative care. It is built on the technology platform that integrates behavioral, physical and dental health records for a comprehensive view of the client/patient’s health. The proven solution provides automation, pervasive interoperability, and superior analytics-driven medical and behavioral health
“Topaz has been a proud NextGen Healthcare partner since 2000,” said Javier Favela, formerly TopazIS Chief Executive Officer and now Vice President, Behavioral Health Solutions at NextGen Healthcare. “Because our cultures, technologies and missions were already so well aligned, it made perfect sense to join forces. We couldn’t be more delighted to become part of NextGen Healthcare, a company that truly cares about its providers and their clients.”
The acquisition of Topaz Information Solutions, which includes all assets of TopazIS, was completed the first week of October. All employees of TopazIS have joined the NextGen Healthcare team. Financial terms of the deal were not disclosed.
Future Outlook for Behavioral Health Market
According to America’s Mental Health 2018, a behavioral health research study published by the National Council for Behavioral Health and Cohen Veterans Network, demand for mental health services are strong and growing. Nearly six in 10 (56 percent) Americans have sought or want to seek mental health services either for themselves or for a loved one. Access is the number one challenge. NextGen Healthcare helps address the accessibility challenges by providing an integrated platform that effectively allows for providers to coordinate care and treat the whole patient.
Strategic Acquisition at The Right Time for NextGen
“The acquisition of TopazIS appears to be a well-timed move by NextGen Healthcare,” said Aaron Gleave, Clinical Research Director for KLAS Research, a leading healthcare research firm. “NextGen Healthcare is acquiring additional technology as the market is beginning to accelerate the adoption of technology platforms and solutions in this space. Behavioral Health has been an underserved area, and we’d love to see NextGen Healthcare deliver the same level of excellence that we’ve observed in its ambulatory offerings the past couple years.”
“The importance of effectively treating behavioral and mental health has appropriately garnered national attention,” said Rusty Frantz, President and Chief Executive Officer of NextGen Healthcare. “The large majority of Americans understand that mental health is just as important as physical health. With the Topaz acquisition, NextGen is doubling down on our commitment to the behavioral health specialty for both societal and business benefits. We strongly believe companies do well by doing good.”