HealthStream acquires Rievent Technologies for $ 4 million

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M&A: HealthStream acquires Rievent Technologies for $ 4 million

What you should know:

Leveraging its open hStream architecture, HealthStream is expanding its ecosystem with the acquisition of Rievent Technologies’ continuing education management and delivery application.

HealthStream (Nasdaq: HSTM), a provider of labor solutions and providers to the healthcare industry, announced today that it has acquired virtually all assets of Rievent Technologies, based in Virginia health technology company for $ 4 million in cash. Through the acquisition, HealthStream obtains an innovative SaaS-based Continuing Education Management and Delivery (CME / CE) application with the Rievent brand, which supports publishers, professional associations, health insurance companies and healthcare providers. . Rievent is highly praised by its customers and is ready to integrate into HealthStream’s growing ecosystem.

Rievent fulfills an essential need in the management and delivery of CME / CE. To maintain and renew an active medical license in the state in which they practice, physicians must meet the exact educational credits and the number of CME hours required by that state for their particular area of ​​practice. According to the Federation of State Medical Boards, the number of CME hours required every two years varies from 25 to 100 with an average of about 50. Similarly, hours of continuing education (EC) are required for registered nurses (RNs) to maintain the license, which are, on average, about 30 hours CE every two years. CE hours are also required for a variety of other healthcare professionals. Rievent is an application that facilitates access and completion of the appropriate CME / CE for students, while facilitating the delivery, management and reporting of CME / CE for the “owner” of CME / CE content i /. or the healthcare provider.

Some of Rievent’s many features include comprehensive activity management tools, certification management, multi-device mobility to access CME and CE activities on the go, searchable activity catalog and event calendar, along with many capabilities. self-service for learners. The application simplifies tasks for both the student and the CME / CE administrator with an excellent user interface design, detailed control panels and time-saving automation for everyone.

HealthStream’s PaaS-enabled hStream platform is specially designed to integrate applications such as Rievent with its potential to enable applications to work together even more powerfully. In particular, HealthStream’s new identity management capability, called hStream ID, allows individual user-level data to be used across different enterprise applications. Doctors, for example, will benefit from the convenience of having Rievent integrated with their credentials in CredentialStream, which would save valuable time and administrative effort for both them and the healthcare organization they care for. As HealthStream continues to develop the hStream platform, cross-application data leverage opens up many possibilities for innovations that benefit everyone, as we believe can happen with the addition of the Rievent application.

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