Tuck-in Acquisition Provides Immediate Value Through Channel and Market Expansion
BRECKSVILLE, Ohio–(BUSINESS WIRE)–MediQuant, LLC, a leading provider of enterprise data archive technology for the healthcare industry and creator of DataArk®, is pleased to announce the acquisition of Knowledge Based Systems, Inc. (KBS), a privately held company located in the Dulles Technology Corridor of Washington, D.C.
Since its founding in 1988, KBS has maintained a singular focus of solving the data access challenges in healthcare. Their track record of success comes from the KBS flagship KB_SQL product offering for VARs as well as a diverse set of enterprise clients. KBS creates products that empower clients to access and retrieve valuable data, enabling them to make critical business decisions. KB_SQL powers many of the world’s best known EHR systems and is licensed to more than 1,000 provider organizations worldwide.
“This acquisition complements our evolving technology and data management capabilities, and expands our portfolio of tools,” said Jim Jacobs, CEO of MediQuant. “The deal opens future business models and channels of distribution for MediQuant and our suite of products. We are excited to welcome KBS to the MediQuant family.”
Dave Middleton, Founder and CEO of KBS added, “The relationships KBS has built over the last 30 years will continue without interruption. I look forward to joining the MediQuant team.”
Founded in 1999 and headquartered in Brecksville, Ohio, MediQuant is the leader in enterprise active archiving solutions for hospitals and health systems. The Company’s flagship product, DataArk®, is a solution that assists hospitals in retiring legacy clinical and patient accounting platforms while maintaining access to critical data via a cloud-based software platform. Active archiving grants users the necessary functionality of a legacy system without the expense and risks. Data is kept active for quickly retrieving files, easily updating old records and continuing to bill accounts. MediQuant serves 250+ individual health systems, which represent more than 1,100 hospital and physician practice customers. For more information, visit www.mediquant.com.
Amy Glass, Vice President, Marketing & Communications