Roper Buys to Strengthen Strata Healthcare Business

In the US, niche market software firm Roper Technologies, Inc. has acquired Syntellis Performance Solutions, which provides enterprise performance management software, data and intelligence solutions for healthcare, higher education and financial institutions.

Roper is paying $1.25bn for the acquisition, including a $135m tax benefit resulting from the transaction - and will combine Syntellis with its Chicago-based Strata Decision Technology business, which provides healthcare financial planning, decision support and performance management solutions for more than 2,000 hospitals, representing over 450 healthcare delivery systems.

The combined business will retain the Strata Decision Technology name and be led by Strata's CEO, John Martino (pictured). Syntellis is expected to contribute c.$185m of revenue and $85m of EBITDA in 2024.

Roper President and CEO Neil Hunn (pictured) comments, 'Syntellis is a fantastic business that meets all of our acquisition criteria, including niche market leadership, mission critical solutions, a high recurring revenue mix, strong customer retention, negative working capital, and excellent cash conversion. Bringing together Strata and Syntellis will enhance the innovation and value that can be delivered to their combined customer base'.

Web sites: www.ropertech.com , www.stratadecision.com and www.syntellis.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.