ContextMedia to acquire AccentHealth to grow its position in the point-of-care market
ContextMedia said it plans to acquire AccentHealth, a point-of-care patient education provider, in an all-cash deal that will put its business in 55,000 doctor's offices.
AccentHealth develops programming, including content from CNN's Dr. Sanjay Gupta, and health education posters for roughly 30,000 physician exam and waiting rooms. The Tampa, Florida-based company is owned by private equity firms M/C Partners and Ridgemont Equity Partners as well as senior managers.
The deal “brings us a step closer to embedding our healthcare technology in every consulting room,” said Ashik Desai, EVP of business growth and analytics at ContextMedia.
As part of the acquisition, which is expected to close later this year, 160 AccentHealth employees will join ContextMedia, which has a staff of about 500 people. No layoffs are expected. The companies declined to disclose financial terms of the deal or AccentHealth's revenue.
ContextMedia said it is experiencing rapid growth, reporting $63 million in revenue in 2015.It is expected to generate approximately $200 million in revenue in 2016, according to Desai.
This is ContextMedia's first acquisition.