Strata & Syntellis Coming Together to Accelerate Innovation and Deliver World-Class Service
August 08 2023 - 10:00AM
Strata Decision Technology (Strata), a pioneer and leader in the
development of cloud-based financial planning, decision support and
performance analytics solutions for healthcare, today announced
that their parent company, Roper Technologies, Inc. (Nasdaq:
ROP), has acquired Syntellis Performance Solutions, LLC
(Syntellis) and will combine the two companies.
Syntellis is a leading provider of enterprise performance
management software, data and intelligence solutions for
healthcare, higher education and financial institutions. By uniting
these two industry leaders, the company can unlock new levels of
insights and value for clients. Strata and Syntellis will continue
to deliver market-leading solutions and world-class service, with
an increased focus on accelerating innovation. Strata will be led
by Strata Chief Executive Officer, John Martino. As part of this
transaction, Flint Brenton, CEO of Syntellis, will be departing the
organization. Flint will serve in an advisory capacity and work
with Strata leadership to ensure a smooth transition.
“Bringing together these talented teams and forward-thinking
organizations will allow us to accelerate innovation and continue
to build upon our market-leading solutions,” said John Martino, CEO
of Strata. “This transaction will expand Strata’s client base to
include organizations across niche vertical markets. As we begin
integration planning, the focus will be on supporting our clients
and laying out a strategic vision which capitalizes on the strength
of our solutions and our teams.”
Today, hospitals and healthcare delivery systems continue to
face pressure from macro market trends, including challenges around
the shift in care settings, reimbursement trailing rising costs and
labor shortages and talent retention. To shift from reactionary
tactics into a position of growth, healthcare organizations need
advanced financial planning capabilities, integrated analytics and
intelligent insights to improve decision-making.
Strata will continue to provide solutions that help its clients
address their toughest financial challenges, by leveraging its
best-in-class enterprise performance management platform and the
combined expertise of the newly formed organization. The increased
scale of the company will facilitate investments yielding greater
innovation, accelerated delivery of solutions and expanded services
that further drive value and increase return on investment for
clients across all industries that the company now serves.
“Today, two premier organizations come together to deliver
the most innovative planning, strategy and data intelligence
solutions in the market,” said Flint Brenton, CEO of Syntellis. “I
am incredibly proud of what the Syntellis team has accomplished.
This transaction promises to drive innovation even further,
revolutionizing the enterprise performance management space with
strategic data insights that create unparalleled value for
clients.”
With investments from private equity firms Thoma Bravo and
Madison Dearborn Partners, LLC, Kaufman Hall Software became
Syntellis in 2020. Syntellis is now part of the Roper Technologies,
Inc. family, and will be integrated with Strata. The two
organizations share a passion to help and empower their clients and
this focus will remain the north star as integration planning
begins. For more information, please visit
www.stratadecision.com/strata-and-syntellis.
About Strata Decision Technology
Strata Decision Technology provides an innovative cloud-based
financial planning, analytics and performance platform that is used
by healthcare providers for financial planning, decision support
and continuous improvement. Founded in 1996, the Company’s client
base includes over 2,000 hospitals representing over 450 healthcare
delivery systems. The Company’s StrataJazz® application is a single
integrated software-as-a-service platform that includes modules for
financial planning, decision support and performance management.
Strata’s headquarters are in Chicago, IL. For more information,
please visit www.stratadecision.com.
About Syntellis Performance Solutions
Syntellis Performance Solutions provides innovative enterprise
performance management software, data and intelligence solutions
for healthcare, higher education and financial institutions.
Syntellis’ solutions include Axiom, Connected Analytics and
Stratasan software. These solutions help finance professionals
elevate performance by acquiring insights, accelerating decisions,
and advancing their business plans. With over 2,800 organizations
and 450,000 users relying on its solutions, Syntellis has proven
industry expertise in helping organizations transform their vision
into reality. For more information, please visit
www.syntellis.com.
About Roper Technologies
Roper Technologies is a constituent of the S&P 500 and
Fortune 1000. Roper has a proven, long-term track record of
compounding cash flow and shareholder value. The Company operates
market leading businesses that design and develop vertical software
and technology enabled products for a variety of defensible niche
markets. Roper utilizes a disciplined, analytical and
process-driven approach to redeploy its excess capital toward
high-quality acquisitions. Additional information about Roper is
available on the Company’s website at www.ropertech.com.
About Madison Dearborn Partners, LLC
Madison Dearborn Partners, LLC (MDP) is a leading private equity
investment firm based in Chicago. Since MDP's formation in 1992,
the firm has raised aggregate capital of over $26 billion and has
completed over 140 investments. MDP invests across five dedicated
industry verticals, including health care; financial and
transaction services; basic industries; business and government
software and services; and telecom, media and technology services.
For more information, please visit www.mdcp.com.
About Thoma Bravo
Thoma Bravo is a leading private equity firm focused on the
software and technology-enabled services sectors. With a series of
funds representing more than $45 billion in capital commitments,
Thoma Bravo partners with a company's management team to implement
operating best practices, invest in growth initiatives and make
accretive acquisitions intended to accelerate revenue and earnings,
with the goal of increasing the value of the business. The firm has
offices in San Francisco and Chicago. For more information, visit
www.thomabravo.com.
ContactHannah Fierstrata@matternow.com
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