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SARASOTA — Roper Industries, a conglomerate in everything from software to water to transportation, has acquired Strata Decision Technology, a Chicago-based cloud-computing analytics firm with a focus on health care clients.
Terms of the deal weren't disclosed.
Strata, according to a release, handles financial planning, decision support and cost improvement for the health care industry. More than 1,000 hospitals in the United States use Strata's products, under a software as a service model, the release adds. The firm was founded in 1996.
“Strata's applications are critical for health care providers in identifying, implementing and sustaining cost improvements,” Roper Chairman and CEO Brian Jellison says in the statement. “We look forward to working with the Strata team to further accelerate growth and enhance the value they provide to their customers.”
Strata's management team, led by CEO Dan Michelson, will continue to lead the business from its Chicago headquarters, the release states. Strata will operate under Roper's medical business segment.
“We believe we have found the best permanent home for Strata,” Michelson says in the release. “Roper has a proven track record of helping great technology companies accelerate their growth and build long-term sustainable value for the customers they serve.”
A publicly traded firm based in a Lakewood Ranch corporate park, Roper had $3.2 billion in revenues in 2013. The firm is traded on the NYSE (symbol: ROP, recent price: $149.70).
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