HealthStream Inc. is ending the year the way it began it — with an acquisition.
The health-tech firm has purchased Virginia-based Rievent Technologies for approximately $4 million in cash, according to a news release.
Rievent Technologies’ platform provides continuing education to registered nurses, physicians and other health care professionals, according to the release. The application delivers, manages and reports the continuing education for the health care provider and will integrate into HealthStream’s existing network.
“It’s exciting to add such a widely used, customer-applauded application as Rievent to our product portfolio on our hStream platform,” Kevin O’Hara, senior vice president and general manager of Platform Solutions at HealthStream, said in the release. “I would like to extend a warm welcome to Rievent’s customers, users, and employees to HealthStream as we work together to continue supporting the delivery of quality CME/CE.”
HealthStream in Nashville’s largest health care IT firm, according to Nashville Business Journal research, with 500 local employees and $244.8 million of revenue in 2020.
The deal adds to HealthStream’s recent shopping spree, which started last year with the purchase of Portland-based health-tech firm NurseGrid for $25 million. The company made at least three other acquisitions in 2020.
HealthStream began 2021 by buying Chicago-based ComplyALIGN for approximately $2 million in cash.
“Rievent Technologies introduced one of the most advanced SaaS-based CME/CE management applications to the industry and we’ve consistently stayed ahead of the curve in making sure it’s the best on the market to fulfill this vital need,” Randy Rienerth, Rievent Technologies founder and CEO, said in the release. “Our customers will benefit from expanded opportunities as part of HealthStream while continuing to receive outstanding service from the same Rievent team.”
