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. has acquired Syntellis Performance Solutions, LLC and will combine this business with Strata.
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.
Strata CEO on the new development
“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.”
The challenges faced by the clients
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.
Syntellis CEO on the acquisition
“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 news in the financial industry:
Trintech acquires Fiserv’s Financial Reconciliation Business
Radius Financial Group acquires Freedmont Mortgage Group to expand reach
Medius acquires Expense Management Firm Expensya
