HealthcareSource, Woburn, Massachusetts, has acquired Vikus Corporation, Chattanooga, Tennessee, The deal will combine Healthcaresource’s talent management expertise with Vikus’ senior care-specific hiring software. Financial terms were not disclosed.
With this acquisition, HealthcareSource will extend its existing leadership in the healthcare talent management market, helping healthcare organizations of all sizes deliver quality care through quality talent across the entire continuum of care. Over the next five years, analysts predict senior households will increase by 4.4 million, and the demands for skilled nursing and residential care facility and home healthcare service workers will grow with it.
Vikus has more than 3,000 facilities using its software-as-a-service solution to help attract, hire, and retain the best people for senior living and post-acute care, making it the clear industry leader in its market. Vikus is growing by more than 40 percent annually and adding an average of 80 facilities per month.
The combined company will have more than 6,300 healthcare clients, serving the talent management needs of more than 50 percent of the registered hospitals in the U.S., and processing over 13 million healthcare job applications annually.
“HealthcareSource’s mission is to improve quality of care by helping clients hire, grow, and keep quality talent. Vikus’s solution immediately extends our capabilities in all aspects of the post-acute market, enabling us to improve the quality of talent across the entire continuum of care,” said J.P. Fingado, HealthcareSource President and Chief Executive Officer, in a company release. “With both acute and post-acute settings facing a combination of a shortage of healthcare workers and ongoing consolidation, adding these additional capabilities and focus ensures that HealthcareSource can meet the providers’ growing needs.”
The product suite will be rebranded as HealthcareSource Senior Living and Post-Acute. Trey Mullins, Vikus Chief Operating Officer, will continue to oversee the business’s client operations and will play an integral role in the integration with HealthcareSource.
“With a complimentary mission, HealthcareSource was the best choice to help us advance our business to bring the best care possible to the aging population. By integrating core talent management offerings, such as learning and performance management, we can now continue to grow talent after the initial hire,” said Mullins. “Together, we will enable providers to connect their entire healthcare workforce on a single platform.”