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A health services platform of UnitedHealth Group

Piper Sandler served as exclusive financial advisor to UnitedHealth Group in the divestiture of Picis.

Client Description

Picis is the leading provider of innovative healthcare information technology solutions designed to optimize the delivery of patient care and financial results in the high-acuity areas of the hospital including emergency departments (ED), perioperative care areas (OR) and intensive care units (ICU). The company's solutions are installed in over 700 hospital sites worldwide.

OptumInsight provides software and information products, advisory consulting services and business process outsourcing to participants in the health care industry. Hospitals, physicians, commercial health plans, government agencies, life sciences companies and other organizations that comprise the healthcare system work with OptumInsight to reduce costs, meet compliance mandates, improve clinical performance and adapt to the changing health system landscape.

Counterparty Description

Constellation Software, Inc. (TSX: CSU) acquires, manages and builds vertical market software businesses that provide mission-critical software solutions. Picis will be part of Constellation's wholly owned subsidiary, N. Harris Computer Corporation ("Harris"). Harris is focused on providing feature rich and robust turnkey solutions to Public Sector, Schools, Utility and Healthcare agencies throughout North America. The acquisition expands Harris’ existing acute care business in the United States, Canada and international markets.