Providence in Talks to Buy Salem’s Performance Health Technology
A Salem-based provider of data and technology services to many of Oregon’s coordinated care organizations said Wednesday that it expects to be purchased by an affiliate of Providence Health.
Performance Health Technology, or PH Tech, has been looking for a buyer for quite some time. It is not clear how the company’s employees will be affected by the sale to Providence Plan Partners, which is affiliated with Providence Health Plan.
According to an inside source, PH Tech intends to sell its headquarters to a local real estate investment group once the sale is complete.
When asked to discuss the sale, the Salem company’s CEO, Nate Perrizo, issued the following statement:
- Performance Health Technology (PH Tech), a Salem, Oregon-based health care technology company, has signed a letter of intent to be acquired by Providence Plan Partners, an affiliate of Providence Health Plan. PH Tech supports provider-sponsored health plans in Oregon and California.
- Both Providence Plan Partners and PH Tech have long-standing commitments to serving the needs of the poor and vulnerable in the Pacific Northwest, including Medicare and Medicaid beneficiaries.
- The two organizations will be working to finalize a definitive agreement sometime in early 2018.”
The terms of the sale have not been disclosed and are considered confidential, according to Perrizo, CEO, who is expected to remain in charge.
Lund Report board member Dr. Michael D. Rohwer was founding CEO of PH Tech.
Reach Courtney Sherwood at firstname.lastname@example.org. Diane Lund-Muzikant contributed to this story.