Quality Systems Unit To Buy Entrada

(RTTNews) - A subsidiary of Quality Systems, Inc. (QSII) has reached a deal to acquire Entrada, Inc., a Nashville-based provider of cloud-based solutions focused on the healthcare market. The transaction is valued at $34 million.

The company said the deal was made through its wholly-owned NextGen Healthcare Information Systems unit. Quality plans to divulge additional details about the deal at its upcoming earnings conference call in May.

According to Quality, Entrada had revenues of about $12 million for the calendar year 2016. It posted a loss of about $2 million.

"Mobile health solutions - in the palm of the provider - are quickly becoming some of the most valuable real estate in healthcare," Rusty Frantz, President and CEO of NextGen Healthcare, said in a statement.