 "8K Miles acquires US healthcare IT firm Cornerstone Advisors for $10.2 mn")
Chennai-based cloud managed service provider 8K Miles Software Services Ltd has announced the acquisition of US healthcare IT company Cornerstone Advisors Group LLC for $10.25 million. The acquisition, through its US-subsidiary, is subject to customary closing conditions and is expected to conclude in the quarter ending March 31, 2017.
Cornerstone is into providing executive-level IT advisory, consulting and implementation services to the healthcare provider industry. The company has expertise in population health, physician and post-acute care integration, Electronic Medical Record (EMR) selection and implementation, strategy definition and total cost of ownership planning, compliance, change mangement and value realisation.
Suresh Venkatachari, chairman and CEO of 8K Miles said, "With the acquisition of Cornerstone, we will add more than 50 top healthcare experts, consultants and practice directors in the US with deep domain knowledge in Healthcare Information Technology services." Cornerstone has an active base of nearly 50 of the industry's leading US healthcare delivery organizations.
He added that with the integration of Cornerstone, the company foresees significant opportunities in cloud managed services, secured cloud solutions and strategy consulting to executive leaders in healthcare vertical.