According to a letter sent to clients, posted to HISTalk, Matt Hawkins, current Greenway Medical president is leaving the organization to accept an “exciting new leadership opportunity” outside the company.
Details were not released in the letter as to whether Hawkins is staying with Vista Equity Partners, the parent organization of Greenway. Hawkins has been with Vista for several years, including stints leading Vitera Healthcare Solutions and SirsiDynix.
Tee Green, Greenway’s CEO, is expected to take the helm.
I’m not sure if Hawkins’ departure will be felt deeply at the company or if there will be any ripple effect at Greenway since the Vista leadership team pretty much manages daily operations of the organizations it owns. Perhaps the biggest effect this development could have for clients are possible changes in strategy related to the company’s legacy systems, like Intergy and Medical Manager.
Still, this is a pretty interesting development given that the purchase of Greenway and its merger with Vitera and Success EHS is still so current.
For the record, I reported to Hawkins while I was worked at Vitera in its PR department (a Sage Healthcare transplant transitioned over during the Vista transaction), but I was among the 400 to 500 laid off in 2012 as Vista restructured the company into its portfolio.
Vitera and Greenway merge. Goodbye, “Vitera.” The company is now officially known as Greenway Medical Technologies, Inc. According to a press release on the subject, the two “leading providers of clinical, financial and administrative solutions to healthcare providers, today announced the completion of a previously announced merger resulting in the combination of the two companies into an innovative leader in health information technology.”
The two are one, the marriage underway.
Vista Equity Partners, owner of Vitera, acquired all outstanding Greenway common stock for $20.35 per share in a transaction valued at approximately $644 million.
The combined company will be privately held and operate under the Greenway brand. Tee Green, Greenway’s CEO, will maintain that position. Vitera’s CEO, Matthew J. Hawkins, will serve as President. Both will serve on Greenway’s board of directors.
The combined company will maintain headquarters and principal operations in Carrollton, GA, Tampa, FL, and Birmingham, AL, serving 100,000 providers across nearly 13,000 medical organizations nationwide — including healthcare enterprises, ambulatory practices, public health, retail and other clinics.
Vitera, through Vista, bought Success EHS earlier this year, which is located in Alabama.
Greenway Medical Technologies and Vitera Healthcare Solutions to combine, according to an announcement today stating that a definitive agreement will result in the combination of the businesses. The transaction will create a major healthcare information technology and services provider, offering a set of solutions for clinical and financial outcomes in healthcare enterprises, ambulatory practices, public health, retail and other clinics nationwide. Following the closing of the transaction, it is reported that the Vitera and Greenway businesses will serve nearly 13,000 medical organizations and 100,000 providers.
Under the terms of the agreement, Vista Equity Partners, which owns Vitera Healthcare Solutions, will pay Greenway stockholders $20.35 in cash for each share of Greenway common stock they hold. The price represents a 62 percent premium to Greenway’s 90-day volume weighted average stock price, and a 20 percent premium to Greenway’s closing share price the day before the merger agreement was signed. The all-cash transaction is valued at approximately $644 million. The Greenway Board of Directors has unanimously approved the definitive merger agreement. Upon closing, Greenway will operate as a privately held company.