SOURCE: Accruent

Accruent

August 25, 2014 08:30 ET

Accruent to Enter Healthcare Industry

Two Acquisitions Provide the Nucleus for New Initiative

AUSTIN, TX--(Marketwired - Aug 25, 2014) -  Accruent, the leader in real estate and facilities management solutions, today announced its entry into the healthcare industry. The move aligns with Accruent's focus on delivering purpose-built solutions for specific vertical markets where real estate and facilities management are of strategic importance.

To drive this initiative, Accruent has acquired Four Rivers Software Systems, Inc. and SiteFM, two specialist providers of healthcare facilities management solutions that bring deep industry knowledge, best-in-class products, and a presence in more than one-third of US hospitals. While facilities management systems are widely adopted in healthcare, the industry lags other sectors in adopting the broader capabilities found in Accruent solutions.

"Cost pressures have made real estate management a strategic issue for the healthcare industry," said Accruent chief executive officer Mark Friedman. "By providing solutions for the entire real estate lifecycle, we can offer healthcare providers the proven performance benefits we generate in other industries. There could be no better way to accelerate our entry into healthcare than by welcoming the employees, customers and solution partners of Four Rivers Software and SiteFM."

In pursuit of economies of scale, many hospitals and other patient care facilities have been consolidated into healthcare systems. These entities exhibit all the portfolio management challenges that Accruent's solutions address, including capital planning, lease administration, construction project management and space management. With the addition of Four Rivers Software and SiteFM, Accruent will provide healthcare systems with both enterprise-level capabilities and site-level capabilities so that they can gain visibility and drive productivity throughout their real estate portfolios.

Accruent's customer base includes a healthcare system that centralized its real estate management in 2010, and has used an Accruent lease administration system to identify opportunities to reduce occupancy costs and avoid capital expenses. Over a four-year period, they report savings in excess of $30 million.

Integration of Four Rivers and SiteFM into Accruent is expected to be completed during 2014. Employees and key executives from the two companies will form Accruent's new healthcare team. Customers will see no interruption to support and services, and will be invited to attend a series of webinars to provide an introduction to Accruent and learn about the expanded solution options now available to them.

About Accruent
Accruent helps real estate and facilities leaders deliver long-term, world class operational and financial performance through purpose-built industry suites that deliver greater customer value. Accruent's six product brands, Accruent, FAMIS, Siterra, 360Facility, Evoco and Expesite, are used by more than 1,200 leading organizations in 56 countries, including 40% of the Top 100 Retailers, 20% of the Fortune 500, 100 leading universities, all of the Top 4 U.S. Wireless Carriers, and leading service providers managing more than 1.5 billion square feet of property. Founded in 1995, Accruent is headquartered in Austin, Texas, with offices in Santa Monica, California; Evanston, Illinois; Columbus, Ohio; Calgary, Alberta, Canada; and Hong Kong. For more information, visit www.accruent.com.

About Four Rivers
Four Rivers Software Systems, Inc., based in Pittsburgh, PA, is the undisputed leader in maintenance management software and computer-aided facilities management (CAFM) solutions for the healthcare industry. Founded in 1990, Four Rivers Software serves more than 2,100 facilities, including many world-renowned hospitals, and has gained unrivalled experience in understanding and meeting healthcare-specific challenges. Four Rivers Software's powerful tools increase productivity and profitability. Our easily-customized products include TMS OnSite, TMS OnLine, and TMS CAFM, and take full advantage of today's mobile technology. For more information, visit www.FRSoft.com.

About SiteFM
SiteFM, headquartered in Austin, TX, enables healthcare facilities to manage the environment of care with solutions that increase productivity and reduce the burden of regulatory compliance. SiteFM's easy-to-use work order (CMMS), space/life safety drawing management and asset monitoring/tracking applications result in unprecedented utilization of assets and resources. We empower managers at more than 400 healthcare facilities to take control of their maintenance and operations, and prepare for facility audits and inspections. SiteFM is available for immediate deployment for a simple monthly fee. For more information, visit www.SiteFM.com.