Roper Industries will acquire Sunquest Information Systems in an all cash transaction valued at $1.415 billion, according to a news release.
Sunquest, headquartered in Tucson, Ariz., is a provider of diagnostic and laboratory software solutions to healthcare providers. The company provides a suite of clinical and anatomic laboratory software solutions and is used by more than 1,700 hospitals worldwide.
Roper defines itself as a diversified growth company providing engineered products and solutions for global niche markets, including water, energy, transportation, education, medical and SaaS-based information networks.
"Sunquest meets all of Roper's key acquisition criteria and is an ideal fit with both our medical and software platforms," said Brian Jellison, Roper's chairman, president and CEO, in the release. "The business is the market leader in software solutions for the critically important healthcare provider laboratory market. We expect Sunquest to benefit in all economic environments from very favorable market forces — an aging population, expansion of anatomic pathology, and the need for reduced healthcare costs and improved quality of care. Sunquest's software and application engineering capabilities deliver an outstanding return on investment for their customers. The company has attractive cash return characteristics and generates significant recurring revenue through long-term customer relationships and very high retention rates."
Completion of the transaction is expected within 30 days.
Roper Industries is headquartered in Sarasota, Fla.
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