HealthStream, based in Nashville, Tenn., has acquired Baptist Leadership Group, the consulting practice owned by Baptist Health Care. According to the announcement to a news release. HealthStream paid approximately $8.5 million for the assets, subject to a working capital adjustment, where $8 million was paid in cash and $500,000 was paid in HealthStream’s common stock.
“I would like to extend a warm welcome to Baptist Leadership Group’s clients and employees to HealthStream,” said Robert A. Frist, Jr., Chief Executive Officer, HealthStream. “We are excited to add BLG’s impressive products and services to our patient experience solution as we work together to help healthcare organizations attain patient-centered performance excellence. BLG adds an important component to our overall strategy for our patient experience solution as we believe that improving the quality of patient care and, in turn, patient experience is linked to supporting the people who deliver care.”
The acquisition of Baptist Leadership expands HealthStream’s solution set to further assist organizations in improving their performance and, in turn, improving their HCAHPS scores.
“We share HealthStream’s long-standing vision to improve the quality of healthcare as our mission has always been to ‘help healthcare organizations improve the quality of the patient experience” said former CEO of Baptist Health Care, Al Stubblefield. “We are excited that our clients will benefit from expanded opportunities as part of HealthStream as our BLG team continues to provide the same outstanding service.”