Roper Technologies, Inc. announced on August 8 that it completed the acquisition of Syntellis Performance Solutions for a net purchase price of $1.25 billion, including a $135 million tax benefit resulting from the transaction. The net purchase price represents approximately 15x Syntellis’ expected 2024 EBITDA.
Syntellis Performance Solutions provides enterprise performance management software, data and intelligence solutions for healthcare, higher education and financial institutions. According to the original press release, Syntellis is expected to contribute approximately $185 million of revenue and $85 million of EBITDA in 2024, including planned cost synergies.
Roper Technologies designs and develops software and solutions for healthcare, transportation, food, energy and other industries. According to its most recent financial report, Roper Technologies’ FY 2022 revenue was approximately $5.37 billion.
Syntellis is to be combined with Roper’s Strata Decision Technology business. The combined business will retain the Strata Decision Technology name and be led by Strata’s CEO, John Martino. Roper funded the acquisition using its cash on hand and revolving credit facility.
According to data captured in the LevinPro HC database, this transaction represents the 171st eHealth acquisition of the year, 39 of them in the revenue cycle management specialty.
