Perseus buys Allscripts division

The Washington DC-based private equity firm will acquire an online education unit from the publicly listed healthcare services company.

Perseus, a merchant bank and private equity firm, has agreed to acquire Physicians Interactive, a maker of online clinical education programs for healthcare providers, for an undisclosed sum.

The seller, Nasdaq-listed clinical software maker Allscripts Healthcare Solutions, is selling the division to focus on its core business of providing information management solutions to physicians and hospitals, such as electronic health record management services. The firm also is awaiting a merger with the healthcare division of London-based software company Misys, though it is unclear whether this played a role in the timing of the sale.

Norman Selby, senior managing director of Perseus, said that his firm hopes to combine Physicians Interactive with other firms that provide complementary products and services. 

“The initial investment is a small one but we hope to commit a significant amount of capital as we do other acquisitions,” Selby said.

Perseus is funding the acquisition from its Perseus Partners VII fund, which closed on $600 million last year. The fund focuses on middle market buyout and growth equity transactions in consumer branded products and services, alternative energy and healthcare.

Selby said that with the Physicians Interactive acquisition the fund will have approximately 50 percent of its funds committed, leaving a lot of capital for future add-on acquisitions.

As part of the transaction, Allscripts president Lee Shapiro will join the board of directors of Perseus Acquisitions Holdings. The transaction is scheduled to close on or about 3 October.