Hyland Software Acquires Valco Data Systems

CLEVELAND – July 1,2009 – Hyland Software today announced that it has purchased privately held Valco Data Systems, a provider of document management, document imaging, workflow and health information management (HIM) integration solutions focused on the healthcare market. Terms of the transaction were not disclosed.

"Healthcare is the single largest segment of our business, and also one of the fastest growing,” said A.J. Hyland, president and CEO of Hyland Software. “Our acquisition of Valco strengthens our portfolio of solutions for healthcare providers, especially those that rely on systems from MEDITECH.”

Founded in 1994, Valco is a full-service company providing software, integration, consulting, support and training services to over 300 hospitals, regional health information organizations (RHIO) and integrated delivery networks (IDN) across North America. The company is best known for providing paperless hospital solutions designed to work together and integrate with software from MEDITECH, a leading vendor in the healthcare informatics industry.

Content management software that takes patient information found in electronically scanned or created documents and makes it easily accessible from a healthcare organization's clinical and administrative applications is essential to realize the national goal of completely electronic health records. Hyland is recognized as a leader in this market because of its proven ability to establish a document management standard with which to link document-based information to applications across departments, including health information management (HIM), revenue cycle management and accounting.

“Helping to complete the electronic patient record is central to our healthcare strategy,” said Hyland. “Even for healthcare providers that have adopted electronic medical record (EMR) systems, as much as 25 percent of a patient’s record still exists outside the EMR in the form of paper documents and digital files. Content management technology like ours is a missing piece needed to more fully inform providers and patients, optimize care, control costs and ultimately make the comprehensive electronic health record a reality.”

Hyland’s approach to the healthcare market was recently validated in the 2008 Top 20 Best in KLAS Awards: Software and Professional Services report, which cited OnBase as the only ranked Document Management and Imaging solution that users would choose to buy again 100 percent of the time. “The continued satisfaction of Valco customers is of paramount importance to us,” said Hyland. “We are committed to providing these organizations with same level of product quality, service and support that our own healthcare customers have come to expect."