HealthStream Acquires Health Continuing Education Platform CloudCME

What You Really should Know:

HealthStream, a provider of workforce and supplier solutions for the health care sector, nowadays declared the completion of its acquisition of the remaining fairness curiosity of CloudCME, a Nashville-primarily based healthcare technology firm with a nationwide shopper base.

– The acquisition expands HealthStream’s existence as a current market chief in healthcare continuing instruction and continuing professional medical instruction management with the acquisition of yet another potent software specifically designed for healthcare businesses and their workforce.

Money Phrases of Acquisition

HealthStream at first invested in CloudCME in March 2019 when it procured approximately 20 % of the fairness interest in the enterprise. With its acquisition now of the remaining equity fascination in CloudCME, HealthStream gains a very best-in-course SaaS-based application for handling all elements of continuing education and learning in just a health care group. The invest in cost compensated for the fantastic fairness of CloudCME that HealthStream did not beforehand possess was about $4.08M in dollars, subject matter to submit-closing doing work funds adjustment, and $4.08M in shares of HealthStream’s prevalent stock issued by way of a non-public placement.

CloudCME Background

CloudCME® is a platform for running all facets of a continuing education and learning (CE) section. The technique supports CME, CNE, CPE, Joint Accreditation™ and a lot of other credit history styles which includes these selected through providership statuses or received through approving bodies. Launched in 2009, CloudCME® consolidates software, documentation, college, registration, finance, RSS, and online content administration into a branded portal for use at institutions. Presentation management consists of the capability to add video clip, PowerPoint and other electronic assets as component of on-line mastering as nicely as syllabus for convention registrants. With this acquisition, HealthStream provides an crucial software to its ecosystem for all of the significant workforce needs of health care corporations associated with CME/CE management.

Healthcare corporations working with CloudCME are offered with a branded net portal for all their CME/CE functions, as effectively as a branded cell application for all of their customers which includes:

– school portal supplies quick accessibility to all facets of faculty management, alongside with a sturdy material management feature for syllabi, faculty-uploaded presentation slides, PDFs, or videos. Pre-test, submit-assessments, as perfectly as quite a few reporting abilities are amid its a lot of attributes and capabilities.

– attendee portal for live CME/CE gatherings streamlines administration and use for equally the healthcare business and the individual healthcare qualified participant.

“As the founder of CloudCME, I am thrilled about this future stage of progress for the organization as component of HealthStream—with their capacity to further more assist our clients with sources, excellent consumer treatment, and innovation,” reported Karl Wilkens, Chief Government Officer, CloudCME. “Our determination to outstanding engineering and consumer service is strongly shared by HealthStream and I am, for that reason, happy that our consumers will carry on to obtain the exact same fantastic support they’ve grown to count on from us around the years. I am also energized by the chance to be part of HealthStream in furtherance of our shared vision to finally enhance the excellent of health care.”