BOCA RATON, Fla.--(BUSINESS WIRE)--Modernizing Medicine, Inc. announced today that it has signed a definitive agreement to acquire Weston, Florida-based gMed, Inc.
The acquisition is expected to increase Modernizing Medicine’s gastroenterology market share with the addition of gMed’s electronic health record (EHR) system, endoscopy report writer, practice management solution, patient portal, data analytics tool and revenue cycle management.
“As a provider of EMR systems plus billing, revenue cycle management and inventory management solutions for medical specialties, the acquisition of gMed fits Modernizing Medicine’s specialty-specific focus and strengthens our product portfolio,” said Dan Cane, CEO and co-founder of Modernizing Medicine. “gMed’s gGastro product functionality complements our own EMA Gastroenterology™ EMR system and is compatible with our product development and growth strategy to be the industry’s foremost specialty-specific vendor.”
Modernizing Medicine’s acquisition of gMed is subject to certain customary conditions to closing. Pending fulfillment of such conditions, Modernizing Medicine currently anticipates closing the transaction in the third quarter of 2015.
“This acquisition aligns with our mission to offer the best gastroenterology-specific solutions and allows us to capitalize on our joint successes in the specialty EMR system market,” said Joe Rubinsztain, MD, CEO and founder of gMed. “We believe that blending our teams and areas of expertise will result in increasingly transformational products and services to better address the needs of more than 12,000 U.S. gastroenterologists and their staff.”
Rubinsztain will hold the title of President of gMed and become a part of the Modernizing Medicine senior management team following the closing. “I have watched the rapid growth of Modernizing Medicine and admire the reputation the company has gained in the market with its cloud, mobile and data-driven third generation EMR system," said Rubinsztain. “I expect this transaction to create greater benefits for end users and the most differentiating and comprehensive gastroenterology-specific products.”
About Modernizing Medicine
Modernizing Medicine® is transforming how healthcare information is created, consumed and utilized in order to increase efficiency and improve outcomes. Our flagship product, Electronic Medical Assistant® (EMA™), is a cloud-based, specialty-specific electronic medical records (EMR) system built by practicing physicians. Available as a native iPad application and from almost any web-enabled Mac or PC, EMA adapts to each provider’s unique style of practice. This ICD-10 ready EMR system is available for the dermatology, ophthalmology, orthopedics, otolaryngology, gastroenterology, urology and plastic surgery markets and used by over 6,000 providers in the United States and its territories. The Modernizing Medicine family of companies also provides specialty-specific billing and inventory management. Follow Modernizing Medicine on Twitter at www.modmed.com/twitter and on Facebook at www.modmed.com/facebook.
About gMed
gMed provides the gastroenterology industry with a fully integrated platform consisting of an Electronic Health Record, Endoscopy Report Writer, Practice Management solution, Patient Portal, a Data Analytics tool and Revenue Cycle Management. Fully scalable through the cloud or using an on-site server, gMed’s products are all Meaningful Use Certified and ICD-10 compliant.
