HealthStream acquires Virsys12 for up to $17M in cash

HealthStream (HSTM) announced that it has acquired Virsys12, a healthcare technology company that offers payers and health plans an innovative provider data management suite used for onboarding, credentialing, and network management. With this acquisition, HealthStream expands its existing provider data management and credentialing solution for payers and health plan enterprises, called Network by HealthStream, launched 14 months ago, which is a part of its broader, market-leading Credentialing application suite. “As the founder of Virsys12, I am excited about joining HealthStream to achieve the next level of growth for V12 Enterprise and support for payers and providers,” said Tammy Hawes, Chief Executive Officer, Virsys12. “HealthStream is unmatched in their reach, the power of their hStream Platform, and their culture and legacy of innovation.” HealthStream purchased the outstanding equity of Virsys12 for up to $17M in cash, subject to a post-closing working capital adjustment.