The acquisition of Sabre includes the transition of all of the company’s employees, including the development team, to CareTech’s headquarters. Ongoing support for existing product installations at area hospital clients will also transfer to CareTech under the deal.
CareTech says that the acquisition indicates further investment into web-based products such as electronic health records. The Sabre product portfolio and development team will be integrated into CareTech’s web services division, one of five focused offerings the company has developed to serve hospitals around the US.
Formed in July 2005, CareTech’s web service line offers hospitals web-based products and services that reduce cost and improve efficiency, such as content management systems, online bill payment, online registration, patient portals and group communications resources.
For its fiscal year ending March 31, CareTech reported revenue of $114 million. It expects the Sabre acquisition to help it meet a revenue goal of $136.8 million this year, although financial terms of the deal were not disclosed.
