NextGen Healthcare Acquires Topaz Information Solutions to Strengthen Behavioral Health Market Presence

VCBeat (WeChat ID: vcbeat) learned from foreign media reports that on October 25, 2019, U.S. healthcare solutions provider NextGen Healthcare announced the completion of its acquisition of behavioral health solutions provider Topaz Information Solutions. All employees of Topaz have joined the NextGen Healthcare team. No financial terms of the acquisition were disclosed.

Through this acquisition, NextGen Healthcare is well-positioned to enhance integrated and collaborative medical services in the behavioral health market, with the potential to reduce healthcare costs for millions of Americans while improving outcomes. This acquisition will strengthen NextGen’s market penetration in the behavioral health sector.

Topaz Information Solutions was founded in 2000 by two large community behavioral health organizations. The company primarily develops customized healthcare technology solutions for behavioral health and social services organizations. The concept for Topaz Information Solutions originated from the need for electronic clinical components and documentation among behavioral health and integrated healthcare providers.

NextGen Behavioral Health Suite enables NextGen to deliver comprehensive and collaborative healthcare services. Built on a technology platform that integrates behavioral, physical, and dental health records, it provides a holistic view of clients’ and patients’ health status. This proven solution offers automation, universal interoperability, and superior analytics-driven medical and behavioral health care.

Javier Favela, Vice President of Behavioral Health Solutions at NextGen Healthcare and former CEO of Topaz Information Solutions, stated, “Topaz has been a proud partner of NextGen Healthcare since 2000. Given the strong alignment of our cultures, technologies, and missions, this union is a natural fit. We are thrilled to become part of NextGen Healthcare, a company that genuinely cares for its vendors and clients.”

The behavioral health market holds immense potential for expansion. A behavioral health research report titled “Mental Health in America 2018,” released by the National Council for Behavioral Health and the Cohen Veterans Network, indicates that demand for mental health services is strong and growing. Nearly six in ten (56%) Americans express a desire to seek mental health services for themselves or their loved ones. Access remains the primary challenge. NextGen Healthcare helps address this accessibility challenge by providing an integrated platform that efficiently enables providers to coordinate care and treatment across the entire patient journey.

Aaron Gleave, Director of Clinical Research at KLAS Research, a leading healthcare research firm, stated, “The acquisition of TopazIS by NextGen Healthcare appears to be well-timed. As the market begins to accelerate its adoption of technology platforms and solutions in this sector, NextGen Healthcare is expanding its technological capabilities. Behavioral health has long been an underserved area, and we are eager to see NextGen Healthcare deliver the same level of excellence in this space as has been observed in its ambulatory care services over the past few years.”

“Rusty Frantz, President and Chief Executive Officer of NextGen Healthcare, said, ‘The importance of effectively treating behavioral and mental health has garnered nationwide attention. The vast majority of Americans recognize that mental health is just as important as physical health. Through the acquisition of Topaz, NextGen will double down on its commitment to behavioral health specialties to achieve both social and commercial benefits. We firmly believe that businesses can do better.’”

(Compiled by Wang Fang)