HealthStream Completes Two Strategic Acquisitions, Expanding its Clinical Rotations Offering for Students, Schools, and Healthcare Organizations
HealthStream (HSTM) has acquired two clinical rotation management businesses: Total Clinical Placement System (TCPS) and The Clinical Hub for up to $1.65 million and $600,000 in cash respectively, subject to earnout achievements. Combined with HealthStream's existing myClinicalExchange™ platform, these acquisitions expand the company's capabilities in managing clinical rotations for nursing and allied healthcare students. The myClinicalExchange application has already facilitated over 285,000 clinical rotations this year. These acquisitions will enhance HealthStream's geographic coverage in Tennessee, surrounding states, and Oklahoma, improving clinical placement options for hospitals, schools, and students.
HealthStream (HSTM) ha acquisito due aziende di gestione delle rotazioni cliniche: Total Clinical Placement System (TCPS) e The Clinical Hub per un massimo di 1,65 milioni di dollari e 600.000 dollari in contante rispettivamente, soggetto al raggiungimento di obiettivi di guadagno. Combinati con la piattaforma esistente myClinicalExchange™ di HealthStream, queste acquisizioni ampliano le capacità dell'azienda nella gestione delle rotazioni cliniche per studenti di infermieristica e professioni sanitarie affini. L'applicazione myClinicalExchange ha già facilitato oltre 285.000 rotazioni cliniche quest'anno. Queste acquisizioni miglioreranno la copertura geografica di HealthStream nel Tennessee, negli stati circostanti e in Oklahoma, potenziando le opzioni di collocamento clinico per ospedali, scuole e studenti.
HealthStream (HSTM) ha adquirido dos negocios de gestión de rotaciones clínicas: Total Clinical Placement System (TCPS) y The Clinical Hub por hasta 1,65 millones de dólares y 600.000 dólares en efectivo respectivamente, sujeto al logro de metas de ganancias. Combinadas con la plataforma existente myClinicalExchange™ de HealthStream, estas adquisiciones amplían las capacidades de la empresa en la gestión de rotaciones clínicas para estudiantes de enfermería y profesionales de la salud relacionados. La aplicación myClinicalExchange ya ha facilitado más de 285.000 rotaciones clínicas este año. Estas adquisiciones mejorarán la cobertura geográfica de HealthStream en Tennessee, en los estados circundantes y en Oklahoma, mejorando las opciones de colocación clínica para hospitales, escuelas y estudiantes.
HealthStream (HSTM)는 두 가지 임상 회전 관리 비즈니스를 인수했습니다: Total Clinical Placement System (TCPS)와 The Clinical Hub로 각각 최대 165만 달러와 60만 달러의 현금으로, 성과 기반 보상이 적용됩니다. HealthStream의 기존 myClinicalExchange™ 플랫폼과 결합하여 이러한 인수는 간호 및 기타 보건 의료 학생을 위한 임상 회전 관리 능력을 확장합니다. myClinicalExchange 애플리케이션은 올해 이미 285,000회 이상의 임상 회전을 지원했습니다. 이러한 인수는 테네시주, 주변 주 및 오클라호마의 지리적 범위를 향상시켜 병원, 학교 및 학생을 위한 클리닉 배치 옵션을 개선할 것입니다.
HealthStream (HSTM) a acquis deux entreprises de gestion des rotations cliniques : Total Clinical Placement System (TCPS) et The Clinical Hub pour un maximum de 1,65 million de dollars et 600 000 dollars en espèces respectivement, sous réserve d'objectifs de performance. Associées à la plateforme myClinicalExchange™ existante de HealthStream, ces acquisitions étendent les capacités de l'entreprise dans la gestion des rotations cliniques pour les étudiants en soins infirmiers et en santé alliée. L'application myClinicalExchange a déjà facilité plus de 285 000 rotations cliniques cette année. Ces acquisitions amélioreront la couverture géographique de HealthStream dans le Tennessee, les États environnants et l'Oklahoma, améliorant les options de placement clinique pour les hôpitaux, les écoles et les étudiants.
HealthStream (HSTM) hat zwei Unternehmen im Bereich des Management von klinischen Rotationen akquiriert: Total Clinical Placement System (TCPS) und The Clinical Hub für bis zu 1,65 Millionen Dollar bzw. 600.000 Dollar in bar, abhängig von den erreichten Ertragszielen. Zusammen mit der bestehenden myClinicalExchange™-Plattform von HealthStream erweitern diese Akquisitionen die Fähigkeiten des Unternehmens in der Verwaltung klinischer Rotationen für Pflege- und verwandte Gesundheitsstudierende. Die myClinicalExchange-Anwendung hat in diesem Jahr bereits über 285.000 klinische Rotationen ermöglicht. Diese Akquisitionen werden die geografische Abdeckung von HealthStream in Tennessee, den umliegenden Bundesstaaten und Oklahoma verbessern und die klinischen Platzierungsmöglichkeiten für Krankenhäuser, Schulen und Studierende erweitern.
- Strategic expansion of clinical rotation management services through two acquisitions
- Demonstrated market success with 285,000 clinical rotations facilitated this year
- Geographic expansion in Tennessee, surrounding states, and Oklahoma
- Relatively low acquisition costs with performance-based earnout structure
- Up to $2.25M total cash outlay for acquisitions
- Full payment contingent on earnout achievements, indicating performance uncertainty
Insights
This strategic acquisition strengthens HealthStream's market position in clinical rotation management with a relatively modest investment of up to
The acquisitions complement HealthStream's 2020 purchase of myClinicalExchange, demonstrating a clear strategy to dominate the clinical placement market. This consolidation should drive operational efficiencies and create barriers to entry. The business model benefits from recurring revenue streams as healthcare organizations and schools require ongoing placement services. While the immediate financial impact appears minimal given HealthStream's
Total Clinical Placement System and The Clinical Hub join with HealthStream’s myClinicalExchange™ to broaden the Company’s ability to connect the future healthcare workforce with the healthcare organizations that want to hire them.
Every year in the
Already this year, HealthStream’s myClinicalExchange application has helped healthcare organizations and academic institutions facilitate over 285,000 clinical rotations for nursing and allied healthcare students, nationwide. With the additions of TCPS and The Clinical Hub, HealthStream will further expand its geographic coverage in
“HealthStream’s leadership in the healthcare workforce sector is unparalleled and, therefore, they are ideally positioned to bring additional opportunities to the students, schools, and healthcare facilities that use TCPS,” said Pam Taylor, Chief Executive Officer, TCPS. Similarly, Jim Durbin, President of The Clinical Hub, added, “Our clients will continue to receive the benefits they enjoy from The Clinical Hub while now gaining access to HealthStream’s ecosystem of workforce solutions that increasingly bridges the gap between school and practice.” Both Taylor and Durbin expressed confidence and gratitude that customers would continue to enjoy the same quality of uninterrupted service while beginning to see new and additional benefits with HealthStream over time.
“By adding the highly respected businesses of TCPS and The Clinical Hub to HealthStream, along with the continued growth of the myClinicalExchange application, we strengthen our position in supporting the development of future clinicians by working closely with academic institutions and healthcare organizations to efficiently facilitate clinical placement of students in rotations,” said Scott McQuigg, Senior Vice President, Digital & Network Solutions, HealthStream.
Terms of the Transactions:
-
HealthStream acquired substantially all of the assets of Total Clinical Placement System (TCPS) from Cyber Healthcare Solutions, LLC for up to
in cash (the full payment of which will require earnout achievement), subject to customary post-closing price adjustments.$1.65 million -
HealthStream acquired substantially all of the assets of The Clinical Hub, Inc. for up to
in cash (the full payment of which will require earnout achievement), subject to customary post-closing price adjustments.$600,000
About HealthStream
HealthStream (Nasdaq: HSTM) is the healthcare industry’s largest ecosystem of platform-delivered workforce solutions that empowers healthcare professionals to do what they do best: deliver excellence in patient care. For more information, visit http://www.healthstream.com or call 800-521-0574.
This press release includes certain forward-looking statements (statements other than solely with respect to historical fact) that involve risks and uncertainties regarding HealthStream. These statements are based upon management’s beliefs, as well as assumptions made by and data currently available to management. This information has been provided in reliance on the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. HealthStream cautions that forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from future results, performance, or achievements expressed or implied by such forward-looking statements, including as the result of risks referenced in HealthStream’s Annual Report on Form 10-K for the year ended December 31, 2023, filed on February 26, 2024, and in HealthStream’s other filings with the Securities and Exchange Commission from time to time. Investors should not place undue reliance on forward-looking statements, which reflect management’s views only as of the date hereof. HealthStream undertakes no obligation to update or revise any such forward-looking statements.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241105570396/en/
Mollie Condra, Ph.D.
Vice President,
Investor Relations &
Communications
HealthStream
(615)-301-3237
mollie.condra@healthstream.com
Source: HealthStream, Inc.
FAQ
How much did HealthStream (HSTM) pay for TCPS and The Clinical Hub acquisitions?
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