Strata & Syntellis Coming Together to Accelerate Innovation and Deliver World-Class Service
CHICAGO, August 8, 2023 (GLOBE NEWSWIRE) – Strata Decision Technology (Strata), a pioneer and leader in the development of cloud-based financial planning, decision support and performance analytics solutions for healthcare, today announced that their parent company, Roper Technologies, Inc. (Nasdaq: ROP), has acquired Syntellis Performance Solutions, LLC (Syntellis) and will combine this business with Strata.
Syntellis is a leading provider of enterprise performance management software, data and intelligence solutions for healthcare, higher education and financial institutions. By uniting these two industry leaders, the company can unlock new levels of insights and value for clients. Strata and Syntellis will continue to deliver market-leading solutions and world-class service, with an increased focus on accelerating innovation. Strata will be led by Strata Chief Executive Officer, John Martino. As part of this transaction, Flint Brenton, CEO of Syntellis, will be departing the organization. Flint will serve in an advisory capacity and work with Strata leadership to ensure a smooth transition.
“Bringing together these talented teams and forward-thinking organizations will allow us to accelerate innovation and continue to build upon our market-leading solutions,” said John Martino, CEO of Strata. “This transaction will expand Strata’s client base to include organizations across niche vertical markets. As we begin integration planning, the focus will be on supporting our clients and laying out a strategic vision which capitalizes on the strength of our solutions and our teams.”
Today, hospitals and healthcare delivery systems continue to face pressure from macro market trends, including challenges around the shift in care settings, reimbursement trailing rising costs and labor shortages and talent retention. To shift from reactionary tactics into a position of growth, healthcare organizations need advanced financial planning capabilities, integrated analytics and intelligent insights to improve decision-making.
Strata will continue to provide solutions that help its clients address their toughest financial challenges, by leveraging its best-in-class enterprise performance management platform and the combined expertise of the newly formed organization. The increased scale of the company will facilitate investments yielding greater innovation, accelerated delivery of solutions and expanded services that further drive value and increase return on investment for clients across all industries that the company now serves.
“Today, two premier organizations come together to deliver the most innovative planning, strategy and data intelligence solutions in the market,” said Flint Brenton, CEO of Syntellis. “I am incredibly proud of what the Syntellis team has accomplished. This transaction promises to drive innovation even further, revolutionizing the enterprise performance management space with strategic data insights that create unparalleled value for clients.”
With investments from private equity firms Thoma Bravo and Madison Dearborn Partners, LLC, Kaufman Hall Software became Syntellis in 2020. Syntellis is now part of the Roper Technologies, Inc. family, and will be integrated with Strata. The two organizations share a passion to help and empower their clients and this focus will remain the north star as integration planning begins. For more information, please visit www.stratadecision.com/strata-and-syntellis.
About Strata Decision Technology
Strata Decision Technology provides an innovative cloud-based financial planning, analytics and performance platform that is used by healthcare providers for financial planning, decision support and continuous improvement. Founded in 1996, the Company’s client base includes over 2,000 hospitals representing over 450 healthcare delivery systems. The Company’s StrataJazz® application is a single integrated software-as-a-service platform that includes modules for financial planning, decision support and performance management. Strata’s headquarters are in Chicago, IL. For more information, please visit www.stratadecision.com.
About Syntellis Performance Solutions
Syntellis Performance Solutions provides innovative enterprise performance management software, data and intelligence solutions for healthcare, higher education and financial institutions. Syntellis’ solutions include Axiom, Connected Analytics and Stratasan software. These solutions help finance professionals elevate performance by acquiring insights, accelerating decisions, and advancing their business plans. With over 2,800 organizations and 450,000 users relying on its solutions, Syntellis has proven industry expertise in helping organizations transform their vision into reality. For more information, please visit www.syntellis.com.
About Roper Technologies
Roper Technologies is a constituent of the S&P 500 and Fortune 1000. Roper has a proven, long-term track record of compounding cash flow and shareholder value. The Company operates market leading businesses that design and develop vertical software and technology enabled products for a variety of defensible niche markets. Roper utilizes a disciplined, analytical and process-driven approach to redeploy its excess capital toward high-quality acquisitions. Additional information about Roper is available on the Company’s website at www.ropertech.com.
About Madison Dearborn Partners, LLC
Madison Dearborn Partners, LLC (MDP) is a leading private equity investment firm based in Chicago. Since MDP's formation in 1992, the firm has raised aggregate capital of over $26 billion and has completed over 140 investments. MDP invests across five dedicated industry verticals, including health care; financial and transaction services; basic industries; business and government software and services; and telecom, media and technology services. For more information, please visit www.mdcp.com.
About Thoma Bravo
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $45 billion in capital commitments, Thoma Bravo partners with a company's management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com.