SARASOTA, Fla., April 17, 2013 /PRNewswire/ -- Roper Industries, Inc. (NYSE: ROP) today announced that it has entered into a definitive agreement to acquire Managed Health Care Associates, Inc. (MHA) in a cash transaction valued at $1.0 billion.
Headquartered in Florham Park, New Jersey, MHA provides services and technologies to support the diverse and complex needs of alternate site health care providers who deliver services outside of an acute care hospital setting. MHA has the leading market position serving multiple niche markets including long-term care pharmacies, assisted living facilities, long-term care facilities, infusion and specialty pharmacies and other alternate site providers. MHA's services, software and analytics enable its customers to manage reimbursement, increase market access, reduce business complexity and purchase more efficiently.
Roper expects the acquisition of MHA to be immediately cash accretive and to generate $95 million of EBITDA over the first twelve months of ownership, excluding the impact of acquisition-related fair value accounting.
"MHA meets all of Roper's key acquisition criteria and is an excellent addition to our Medical platform," said Brian Jellison, Roper's Chairman, President and CEO. "The business provides the leading network of solutions to the alternate site healthcare market. MHA's powerful technology tools and proven customer-service model continue to drive growth in their multiple niches. The company has attractive cash return characteristics and generates substantial recurring revenue through long-term customer relationships and very high retention rates."Mr. Jellison continued, "MHA has a compelling business model and we have been impressed by the management team's passion and commitment. We look forward to working to enhance the value of the business for the benefit of customers, employees and shareholders. The business will continue to operate as MHA, marketing technologies and services under current brand names."
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV