HealthStream Inc. is adding a local startup to its portfolio of tech buys.
The health-tech firm has purchased the remaining equity shares of Nashville-based CloudCME, according to a news release, for $4.08 million in cash and $4.08 million in shares of HealthStream’s common stock.
HealthStream was already an investor in CloudCME, buying 20% equity interest in the company in 2019.
CloudCME’s platform manages continuing medical education of physicians and clinical staff — much of which is mandated — for health care organizations, according to the release. The company lists 20 employees on its website.
“As the founder of CloudCME, I am excited about this next level of growth for the company as part of HealthStream — with their ability to further support our customers with resources, great customer care, and innovation,” CloudCME CEO Karl Wilkens said in the release.
HealthStream (Nasdaq: HSTM) in Nashville’s largest health care IT firm, according to Nashville Business Journal research, with 450 local employees and $256.7 million of revenue in 2021.
The deal comes six months after HealthStream bought Virginia-based Rievent Technologies, which also manages and reports the continuing education of health care providers.
"The addition of CloudCME, coupled with our acquisition of Rievent Technologies at the end of 2021, establishes HealthStream as a market-leader for CME and CE management and delivery applications for healthcare organizations and their workforce,” HealthStream Senior Vice President and General Manager of Platform Solutions Kevin O’Hara said.
