Quality Systems Inc. to Buy Medical Software Company
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TUSTIN — Quality Systems Inc. said Thursday it plans to acquire Clinitec International Inc., a Pennsylvania developer of electronic medical records software systems, for nearly $12 million in cash and stock. Quality Systems said Clinitec would become a unit of the company.
Quality Systems, which holds a 25% stake in the company, said it has signed a letter of intent to acquire 100% of Clinitec for about $4.9 million in cash and about $6.9 million in Quality Systems stock.
The companies expect to close the deal in March. Patrick Cline, Clinitec’s president and co-founder, will remain president of the unit after the merger, and will become executive vice president and a director of Quality Systems, which develops and markets health-care information systems.
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