QUICK TAKES

Two serial acquirers announce new acquisitions

What is the news?

Another trend we expected to continue in 2024 started the year with a bank. Two serial acquirers announced new acquisitions:

• PointClickCare announced its acquisition of AmericanHealthTech

• Miovision acquired CJ Hensch & Associates

Tell us the what and why of the PointClickCare acquisition.

AHT makes electronic health records for the post-acute market and was about to be discounted by its parent company. Computer Programs and Systems Inc. AHT served a customer segment that PointClickCare targets. Given this information, it sounds like this was an opportunity for PCC to acquire customers on a cost-effective basis.

What about the Miovision acquisition?

Interestingly, Texas-based CJ Hensch was a customer of Miovision. The company is a traffic data collection company. This acquisition is a bit different than other recent acquisitions as it is not clear if this is an acquisition of technology to expand the product suite vertically or a customer development acquisition like Miovision suggested in their statements. Given that Miovision is backed by a PE firm this may be the start of Miovision expanding is product and rolling up a different part of the industry. They may not want to publicly state this as they may not want to scare customers.

What do both of these acquisitions have in common?

Both of these companies have now acquired several companies since 2020 and are using their financial backing and strong stocks to grow inorganically. We can assume by now they have built teams to identify and acquire companies and to integrate companies.

Community takeaways?

We expect many more deals like this and many small ones will not be announced. If you are looking for an exit you may want to understand who the PCC or Miovision of your industry is and start talking to them now.

This model is in such style now that earlier this week Montreal-based Valsoft Corporation announced that it had raised $170m USD to execute a similar playbook in several verticals.

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