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CMA Holdings acquires physician software company

OTTAWA –CMA Holdings Inc., which manages the business ventures of the Canadian Medical Association, has purchased a majority interest in HealthCare Software Inc., a clinical practice management software company based in Cambridge, Ont. The company has approximately 2,000 physicians using its system in Ontario.

The founders and principal owners of HealthCare Software Inc., Barbara Kavanagh and her husband, Dr. James Kavanagh, MD., will remain with the company, which will retain its current name.

According to CMA Holdings, the addition of HealthCare Software Inc. and its suite of NetMedical clinical products represent an important expansion of the CMAH’s core capabilities.

CMAH acquires a thriving company with proprietary software for electronic billing, scheduling and electronic medical records (EMR). There is significant sales growth potential in each of these areas, particularly EMR, and CMAH intends to expand distribution of all product lines to other provinces and territories.

Rob Hewett, president and CEO of CMA Holdings (pictured at left), said in an interview that the CMA has been expanding into electronic solutions to provide members with additional benefits and guidance. He noted that in recent years, the CMAH has developed a web portal for physicians and has also expanded its educational and consulting offerings in the area of physician practice computing

“Helping physicians adapt to technology is probably one of the most useful things we could do,” said Hewett.

Sandy Wilson, CMA Holdings’ chief operating officer, said “physicians are clearly looking for help when it comes to computerized solutions.”

He said the association is willing to invest resources to give Healthcare Software a national presence. That includes creating billing modules for each of the provinces and territories – including Quebec, which will require a French-language version of the software.

It also involves expanding the service and support capabilities of the company, ensuring that physicians obtain the “change management” services that are needed to computerize their offices.

Hewett declined to disclose how much CMA Holdings invested in Healthcare Software to obtain the majority share. He did say there will be a payout over time that’s tied to the company’s performance over the next few years.

“The CMA is focused on the needs of physicians, just as we are,” said Barbara Kavanagh. “As such, they make an ideal partner. We look forward to the opportunities that lie ahead.”

“There’s no question in our minds that as physicians across Canada become aware of the capabilities and functionality of our software, they will realize it’s the best thing to happen to their practice since the discovery of the stethoscope,” added Dr. Kavanagh.

“With close to 70% of Canadian physicians having membership in the Canadian Medical Association, these 57,000 physician members rely heavily on the CMA as the collective voice of organized medicine. We will continue to capitalize on every opportunity to help our members’ maximize their productivity and provide effective delivery of healthcare to Canadians,” Hewett continued.

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