Commercial property management software provider Accruent has acquired Mainspring Healthcare Solutions, which supplies software and technology products to U.S. hospitals. Financial terms of the transaction have not been disclosed.
Mainspring, which has served the health care market for over 25 years, provides computerized maintenance management offerings to address operational challenges in hospitals. The company’s corporate headquarters are located in Waltham, Massachusetts.
Austin, Texas-based Accruent’s specialty lies in providing a suite of products for clinical engineering, facility management, environment services, materials management, portfolio management, lease administration and facility capital planning. For Accruent, acquiring Mainspring’s technology solutions will provide customers from both parties with a “higher return on investment and better service to caregivers and patients”, the company says in a statement. With the addition of Mainspring, Accruent’s suite of products will be used by more than 55 percent of U.S. hospitals.
The integration of the two companies is expected to be completed in mid-2016.
Health care companies have been seeing a lot of play in the M&A market lately, particularly among software providers. In March, GI Partners and Allscripts Healthcare Solutions Inc. (Nasdaq: MDRX) acquired health care software provider Netsmart Technologies Inc. from Genstar Capital in a deal valued at $950 million. Also, in February, IBM (NYSE: IBM) announced plans to purchase Truven Health Analytics for $2.6 billion, making it fourth health data-related target for the company in less than a year. The deal closed in early-April.
