What You Should Know:
– HealthStream acquires substantially all of the assets of myClinicalExchange LLC, for approximately $4.5 million in cash.
– For the first time, HealthStream’s footprint expands to include the healthcare workforce before graduation, providing new opportunities to make the transition-to-practice by medical, nursing, and allied healthcare students more seamless.
HealthStream, a Nashville, TN-based provider of workforce and provider solutions for the healthcare industry, today announced that it has acquired substantially all of the assets of myClinicalExchange LLC, a Denver-based information technologies company. The myClinicalExchange application has been used by approximately 400 hospitals; 1,000 colleges and universities; and 50,000 medical, nursing, and allied healthcare students, annually.
Streamlining Clinical Rotation Educational Requirements
Through the acquisition, HealthStream gains myClinicalExchange’s SaaS application that allows healthcare organizations to track, manage, and report the intern and clinical rotation educational requirements of medical, nursing, and allied healthcare students, as well as host required documentation for medical residents.
Every year in the U.S., medical, nursing, and allied healthcare students are required to fulfill clinical rotations in a healthcare organization (primarily hospitals) as part of their educational programs. Hospitals, in turn, are responsible for managing their requests for rotations, tracking and ensuring compliance of their rotations, and ensuring that proper credentials are in place for their working in their organizations with patients. myClinicalExchange’s ability to streamline these processes for both the student and the healthcare organization has made it a market-leading solution for this niche, critical area of workforce management.
Following the acquisition, current customer support for the myClinicalExchange application will remain in place. Executive oversight of the myClinicalExchange business will be provided by Trisha Coady, Senior Vice President & General Manager, Clinical Solutions, HealthStream. The myClinicalExchange application will be included in HealthStream’s Workforce Solutions business segment.