Arcadia Healthcare Solutions, a Burlington health care technology company, said Wednesday that it has acquired Sage Technologies of Illinois for $28 million.
The deal represents a new business line for Arcadia, which tracks and analyzes data from electronic health records. Sage, through data collection and other services, specializes in helping health care organizations move to new business models known as accountable care. These models require doctors and hospitals to better track patients health.
Arcadia has 175 employees. Sage, based in Rockford, Ill., has 75 employees, who will remain in that state.
Arcadia chief executive Sean Carroll said in a news release that the Sage deal will help Arcadia grow at a time when the health care industry is changing from “volume-based” to “value-based” care. “In the context of this enormous change,” Carroll said, “we are on a steady search for strategic opportunities to add to our competitive offering and strengthen our company for the growth ahead.”
The deal is worth up to $28 million if Sage meets certain performance targets.