Hyland Software made its second healthcare-related acquisition within the past year. The Cleveland-area based ISV has acquired eWebHealth, which offers a variety of hosted medical records solutions. According to the press release, “eWebHealth delivers workflow solutions by a SaaS model for clinical, administrative and financial environments. It also automates specialty areas such as physician coding, signature completion and compliance. Nearly 100 small and mid-size hospitals and healthcare facilities located across the country are eWebHealth customers.”
So, it’s not a huge acquisition, but seems to be incremental to Hyland’s business. Remember, Hyland has been focusing on the healthcare marketing a lot longer than most document imaging/ECM vendors, many of whom have come to the table late hoping to take advantage of demand driven by Federal stimulus rewards for electronic medical record implementations. Hyland also has had a viable SaaS offering for several years, an area of its business which reportedly continues to grow rapidly. So, this adds technology and expertise in both those areas and should help Hyland round out its healthcare provider offering even further, and versatility is already one of its differentiating factors in that space.
When the majority of Hyland was acquired a few years back by an investment firm, the company promised to become more acquisitive. Of course, then the economic downturn hit and private equity investors were one of the hardest hit groups. Nonetheless, Hyland has made some smalller, but strategic acquisitions like this one that should keep it on a growth path and help it continue to fill in gaps in the ECM market that are not as well addressed by larger competitors like IBM, EMC, Microsoft, Oracle and Open Text.