NetDimensions plc was established in 1999. It is a global provider of performance, knowledge and learning management systems. The NetDimensions Talent Suite enables companies, government agencies and other organizations to personalize learning, share knowledge, enhance performance, foster collaboration, and manage compliance programs for employees, customers, partners and suppliers.
NetDimensions, a global provider of performance, knowledge and learning management systems, announces that it has acquired the assets, goodwill and business of eHealthcareIT for a total consideration of approximately US$3.5m.
The acquisition is in line with NetDimensions' strategy to become a premier global provider for talent management solutions for highly-regulated industries.
Founded in 2004, eHealthcareIT specializes in providing e-learning and compliance solutions to the U.S. healthcare market. eHealthcareIT's solutions comprise of specialized healthcare training content that is delivered via the NetDimensions Talent Suite to clients ranging from multiple hospital organizations with over 20,000 employees to single standalone hospitals. eHealthcareIT solutions help address Corporate, HIPAA, and Joint Commission compliance requirements. The company has been a leading partner and reseller of the NetDimensions Talent Suite platform during the last six years.
The total consideration will comprise of US$2.5m in cash and US$1m in stock. 50% of the cash consideration is payable on completion with a further US$0.75m paid in four equal instalments commencing three months following completion and US$0.5m on an earn out basis. eHealthcareIT made a small profit for the year ended December 2011 of US$62,471 and its invoiced sales for the period were US$2.1m. The acquisition of eHealthcareIT provides NetDimensions with the potential to significantly increase the Company’s business in the U.S. and Global healthcare industry.
The eHealthcareIT business will immediately become NetDimensions Healthcare, a dedicated division of NetDimensions Holdings that will provide talent, learning, and compliance management solutions specifically to the healthcare market internationally. Ken Wright, the founder & CEO of eHealthcareIT, will stay on with the new combined company and become the President of NetDimensions Healthcare.
Ken Wright, founder and CEO of eHealthcareIT, commented: "NetDimensions top quadrant learning and talent management solutions deliver technologies vastly superior to traditional healthcare-focused learning solution vendors. This merger will bring forward an exciting organic and integratedsolution set geared toward the learning, talent, and compliance management needs of healthcare entities, their staff, contractors, vendors, patients, and the community they serve."
Matthew Chaloner, NetDimensions CFO, commented: "The acquisition of eHealthcareIT is giving us a very strong foothold into the US healthcare market and a great opportunity to grow this business very quickly at a global scale by leveraging our worldwide presence, established sales force, and expanding product portfolio. We have been working closely with the eHealthcareIT team for over 6 years and we are confident we will be able to integrate their business within NetDimensions at a rapid pace."All company news →
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