SAGE TO BUY DOCUMENT MANAGEMENT FIRM: The Sage Group will acquire Tampa, Fla.-based Emdeon Practice Services Inc., which sells practice management software and patient data systems to doctors' offices. Sage will pay about $567 million in cash to EPS's parent company, Emdeon Corp., and plans to close the deal this month. For the 2005 fiscal year, EPS had revenues of approximately $300 million and about 20,000 mostly small and midsized customers.EPS software is used in administrative and financial processes - such as the scheduling of appointments and the handling of prescriptions and billing - and has capabilities for the creation and management of electronic health records.
Sage said that it expects the medical software arena to be a growth industry, as more doctors look to automate their practices and there is a higher adoption of electronic health records. The company also expects to be able to take advantage of cross-selling software between existing Sage and EPS customers.
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