Berkery, Noyes & Co., LLC, a leading independent investment bank serving the software, information, and professional services markets, represented Strata Decision Technology in its sale to Veronis Suhler Stevenson. Terms of the transaction were not disclosed.
Founded in 1996 by husband-and-wife team Dr. Catherine Kleinmuntz and Dr. Don Kleinmuntz, Strata Decision Technology develops, markets and implements web-based financial analytics and performance management software tools used primarily by U.S. hospitals and healthcare systems to enhance their financial planning, budgeting, and reporting processes. The company has provided services to more than 800 hospitals and thousands of hospital-affiliated healthcare provider organizations, including Allina Hospitals and Clinics, Catholic Healthcare West, Cleveland Clinic, Johns Hopkins Medicine, New York-Presbyterian Hospital, Providence Health and Services, Trinity Health, and Yale New Haven Health System.
"VSS's investment in Strata is a validation of our commitment to providing both exceptional software and services to our customers," said Dr. Catherine Kleinmuntz, CEO and Founder of Strata Decision Technology. "Our approach, combining sophisticated financial analytics with robust coordination and collaboration features, has placed Strata on the forefront of healthcare information technology."
Chicago-based Strata Decision Technology's products serve the needs of C-level and senior financial and operational decision-makers who use Strata Decision Technology tools to drive collaboration, facilitate the coordination of plans and strategies, and communicate with non-financial audiences. Their signature StrataJazz platform offers a fully integrated SaaS (Software as a Service) suite of corporate financial analytic solutions designed to help organizations improve their financial and operational performance. The company's blend of products and services provide a comprehensive solution for planning and reporting, combined with outstanding implementation and support services to reduce the customer's total cost of ownership.
Dr. Kleinmuntz also commented, "We appreciated the advice and guidance of Berkery Noyes at every step of the transaction process. We are very pleased with the outcome and are grateful for the important role Berkery Noyes played in making this happen." "This deal is indicative of the attractiveness of quality, market-leading SaaS products in the healthcare provider space," said Jeffrey Smith, managing director at Berkery Noyes. "Strata Decision Technology is an exceptional company. It was a pleasure to represent them in this highly strategic transaction as they join Veronis Suhler Stevenson for continued growth and development in the years ahead."
About Strata Decision Technology
Strata Decision Technology was established with the idea that the right analytic tools can help healthcare providers create an environment for smarter decision making. Founded in 1996, Strata Decision software has been adopted by more than 800 hundred hospitals, including community hospitals, major academic medical centers, and some of the largest and most influential healthcare systems in the United States, along with many thousands of hospital system affiliated healthcare organizations.
About Berkery Noyes
Berkery Noyes provides strategic mergers and acquisitions transaction advisory services, financial consulting, and strategic research to middle-market technology, data, information, and education companies in the United States and internationally.