NEWS RELEASE
For more information, contact:
Joe Craigen, Visualutions, Inc. (281) 297-2257 joe@visualutions.com
Bill Young, CySolutions, Inc., (817) 281-3085 wjy@cysolutions.com
Jim Rose, CySolutions, Inc., (612) 751-3148 jdrose@cysolutions.com
MERGER OF CYSOLUTIONS, INC. INTO VISUALUTIONS, INC.
Acquisition and Merger Strengthen Visualutions Presence in the Healthcare IT Market
September 28, 2011, Spring, Texas. – Today
Greenway Medical Technologies, Inc. (Carrollton,
Ga.) announced that it is acquiring certain technology and human capital assets of
CySolutions,
Inc., provider of integrated information technology solutions for Federally Qualified Health
Centers (FQHCs) and Community Health Centers (CHCs). Details of the acquisition can be found
at
www.greenwaymedical.com
In conjunction with the aforementioned acquisition,
Visualutions, Inc., (Spring, Texas) and
CySolutions, Inc. (Southlake, Texas) announce the merger of
CySolutions with
Visualutions.
Upon the completion of the acquisition by
Greenway Medical Technologies of certain
CySolutions’ technology,
CySolutions’ and
Chorus’ retained assets which include its customer
base of over 260 clinics of which 180 are CHC’s using the GE Centricity Practice Solutions’
application with
CySolutions CHC Enhancements, its data hosting centers and its remaining
employees will be merged with
Visualutions.
Visualutions presently provides revenue cycle
management, managed IT and hosting services to medical practices, free standing emergency
rooms and general acute hospitals. They are also the publishers of VisDoc, a complete
document management solution that
CySolutions has adopted and marketed as CyDocs to its
user community. The combination of these two companies will result in an organization
comprised of approximately 60 employees with combined annual revenues of over
$13,500,000.
Visualutions will continue to support the GE Centricity user community with the
CySolutions’ products and services.
Visualutions will also continue as a Gold Reseller for
Greenway Medical Technologies.
Joe Craigen, CEO of
Visualutions will serve as CEO after the merger. For the last 12 months, Mr.
Craigen has also been the Chief Technology Officer of
CySolutions, managing its hosting centers
in Cedar Knolls, New Jersey and Spring, Texas. The
Visualutions’ headquarter facility in Spring,
Texas was recently built by the company.
Jim Rose, Chief Operating Officer of
CySolutions will
continue in that role for
Visualutions.
Bill Young and
Peggy Young, in addition to being
shareholders and board members of
Visualutions, will continue as consultants to the
organization.
“We are very pleased with the progress that both of our companies have made in this
marketplace since our inceptions in 1996. We have had a close working relationship with
Visualutions since 2001 and we share the common purpose of providing innovative healthcare
IT solutions with dedicated customer service. While each of us has developed a complimentary
path to success the combination of our strengths will enable us to continue providing innovative
solutions to the markets we serve, including
Greenway’s PrimeSuite® applications” said
Bill
Young, CEO of
CySolutions.
“
Visualutions has worked closely with
CySolutions since 2001. We understand the markets that
they serve, our experience with the GE Centricity platform dates back to 1998. Both
CySolutions
and
Visualutions became resellers of the Millbrook Practice Management system (later
acquired by GE and renamed Centricity). Our combined talents will enable us to offer expanded
services to our user community particularly in the areas of revenue cycle management for large,
complex practices as well as managed IT services and cloud technology. This enables practices
to connect with other information sources to share information and provide advanced reporting
solutions. We are absolutely excited about the prospects for the future.” said
Joe Craigen, CEO
of
Visualutions.
The completion of the merger is planned to occur by October 31st.
About the Companies
Visualutions, Inc. based in Spring, Texas, was formed in 1996 and is privately held. They are
headquartered at 7440 Mintwood Lane; Spring, Texas 77379. In 2010, they completed the
acquisition and construction of their headquarters site which includes a state-of-the-art data
center.
www.visualutions.com
Prior to forming Visualutions,
Joe Craigen, CEO spent 11 years in the banking IT industry
including 7 years with Electronic Data Systems (EDS).
CySolutions, Inc. based in Southlake, Texas, was formed in 1996 and is privately held. In 2009,
CySolutions acquired
Chorus, Inc. (formerly MD Serve). w
ww.cysolutions.com
Jim Rose, prior to becoming COO of
CySolutions in 2009, spent 23 years in healthcare IT and
revenue cycle management including 15 years at CyCare, HBOC and McKesson and 8 years
providing project management and consulting services in the clinical information and revenue
cycle management areas for a variety of medical service providers.
Visualutions headquarters in Spring, Texas.
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PDF of this press release can be found
here.