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HEARST AGREES TO ACQUIRE QGENDA, A LEADER IN HEALTHCARE WORKFORCE MANAGEMENT SOLUTIONS
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NEW YORK, Aug. 12, 2024 ~ Hearst, a leading media and information company, has recently announced its plans to acquire QGenda, LLC from investment firms Francisco Partners and ICONIQ Growth. QGenda is a prominent provider of healthcare workforce management solutions, with over 4,500 organizations utilizing their services to improve scheduling, capacity optimization, and access to care.

The acquisition was confirmed by Steven R. Swartz, president and CEO of Hearst; Gregory Dorn, M.D., president of Hearst Health; and Greg Benoit, CEO of QGenda. Benoit will continue to lead the company under Hearst's ownership. The terms of the deal were not disclosed and are subject to regulatory approval. Once finalized, QGenda will become part of Hearst Health, the healthcare division within Hearst that currently includes FDB, Homecare Homebase, MCG, MHK and Zynx Health.

In a statement regarding the acquisition, Swartz expressed his excitement for the partnership with QGenda and their shared goal of improving the healthcare system for patients across the country.

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QGenda's workforce management solutions cater to over 45 different specialties in the healthcare market and are used by more than 700,000 physicians and other healthcare providers. Their platform helps organizations effectively deploy resources to increase engagement and retention while optimizing staffing and reducing labor costs. Their end-to-end platform ProviderCloud automates complex processes such as provider scheduling workflows and time sheet tracking. This has earned them top rankings in Best in KLAS: Software & Services report for several years.

Dorn also commented on the acquisition stating that they are always on the lookout for innovative technology solutions that enhance the quality, safety, and efficiency of healthcare. With a shortage of clinicians in today's world, QGenda's platform addresses a critical need for organizations looking to optimize clinical team deployment while allowing care professionals to practice at their highest level. He welcomed all members of the QGenda team to Hearst Health.

Benoit expressed his pride and excitement for the opportunity to join Hearst Health and thanked their customers and partners for their continuous support. He stated that this move aligns with their mission of ensuring that every patient has access to the right healthcare provider when and where they need it.

The acquisition was advised by BofA Securities, Inc. for Hearst and Evercore for QGenda. The transaction is expected to be completed later this year.
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