What You Should Know:
– HealthStream acquires substantially all of the assets
of myClinicalExchange LLC, for approximately
$4.5 million in cash.
– For the first time, HealthStream’s footprint expands to
include the healthcare workforce before graduation, providing new opportunities
to make the transition-to-practice by medical, nursing, and allied healthcare
students more seamless.
HealthStream, a Nashville,
TN-based provider of workforce and provider solutions for the healthcare
industry, today announced that it has acquired
substantially all of the assets of myClinicalExchange
LLC, a Denver-based information technologies company. The
myClinicalExchange application has been used by approximately 400 hospitals;
1,000 colleges and universities; and 50,000 medical, nursing, and allied
healthcare students, annually.
Streamlining Clinical Rotation Educational Requirements
Through the acquisition, HealthStream gains
myClinicalExchange’s SaaS application that allows healthcare organizations to
track, manage, and report the intern and clinical rotation educational
requirements of medical, nursing, and allied healthcare students, as well as
host required documentation for medical residents.
Every year in the U.S., medical, nursing, and allied
healthcare students are required to fulfill clinical rotations in a healthcare
organization (primarily hospitals) as part of their educational programs.
Hospitals, in turn, are responsible for managing their requests for rotations,
tracking and ensuring compliance of their rotations, and ensuring that proper
credentials are in place for their working in their organizations with
patients. myClinicalExchange’s ability to streamline these processes for both
the student and the healthcare organization has made it a market-leading
solution for this niche, critical area of workforce management.
Post-Acquisition
Following the acquisition, current customer support for the
myClinicalExchange application will remain in place. Executive oversight of the
myClinicalExchange business will be provided by Trisha Coady, Senior Vice
President & General Manager, Clinical Solutions, HealthStream. The
myClinicalExchange application will be included in HealthStream’s Workforce
Solutions business segment.
