Business

Modernizing Medicine to buy Weston-based gMed

Health-tech company Modernizing Medicine announced Wednesday that it will acquire Weston-based gMed to strengthen its product line. Terms of the deal were not disclosed.

Modernizing Medicine, based in Boca Raton, is developing specialty-specific elecronic medical records products, including the flagship Electronic Medical Assistant. The acquisition is expected to increase Modernizing Medicine’s gastroenterology market share with the addition of gMed’s electronic health record (EHR) system, endoscopy report writer, practice management solution, patient portal, data analytics tool and revenue cycle management, said Dan Cane, CEO and co-founder of Modernizing Medicine.

“As a provider of EMR systems plus billing, revenue cycle management and inventory management solutions for medical specialties, the acquisition of gMed fits ModernizingMedicine’s specialty-specific focus and strengthens our product portfolio,” said Cane, adding that gMed’s gGastro product complements Modernizing Medicine’s EMA Gastroenterology EMR system.

Modernizing Medicine’s acquisition of gMed is subject to certain customary conditions for closing; but Modernizing Medicine anticipates the transaction will close in the third quarter. Dr. Joe Rubinsztain, CEO and founder of gMed, will be president of gMed and become a part of the Modernizing Medicine senior management team following the closing. “This acquisition aligns with our mission to offer the best gastroenterology-specific solutions and allows us to capitalize on our joint successes in the specialty EMR system market,” said Rubinsztain.

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