Streamline Health Solutions (STRM) to Sell Looking Glass Patient Engagement Suite
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Streamline Health Solutions, Inc. (Nasdaq: STRM) announced the sale of its Looking Glass Patient Engagement suite of solutions to Document Storage Systems, Inc. (DSS), located in Juno Beach, Florida. DSS specializes in the integration, development and innovation of healthcare technology to promote interoperable information exchange throughout the industry.
Streamline Health's Looking Glass® Patient Engagement suite consists primarily of Patient Scheduling and Surgery Management software. This suite of products is based upon the legacy ForSite2020 solution, which Streamline Health acquired in connection with its acquisition of Unibased Systems Architecture, Inc. (USA, Inc.), in February, 2014. The company plans to discuss specifics of the transaction and will update any potential impact during its Third Quarter earnings call on Wednesday, December 7, 2016.
"As we sharpen our focus on delivering integrated solutions and analytics services supporting revenue cycle optimization, we recognized a company like DSS could better leverage our patient engagement solutions when compared with our go forward strategy," stated David Sides, President and Chief Executive Officer, Streamline Health. "We've worked with DSS for a number of years and felt they were the right strategic buyer. These award-winning solutions are supported by a team of dedicated professionals we've been proud to call colleagues here at Streamline Health."
Streamline Health received $2 million from DSS in the transaction.
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