Somerset cloud tech firm acquires consulting business

CareCloud Inc., a Somerset-based cloud technology solutions company, is continuing to grow in the health care and hospital sector, acquiring assets of MedMatica Consulting Associates Inc.

The transaction included assets MedMatica had previously acquired from Santa Rosa Consulting Inc., CareCloud said in a news release. MedMatica provides information technology consulting and other advisory services to hospitals in the U.S., Canada and the Caribbean.

“We are incredibly impressed with what the MedMatica team has been able to accomplish, and are excited to invest in their continued growth,” CareCloud Chief Strategy Office Stephen Snyder said in a prepared statement. “By combining MedMatica’s proven processes, domain knowledge and deep health system relationships with our operational scale, resources and broad technology capabilities, this synergistic combination enables CareCloud to better meet the evolving needs of existing hospital clients, broadens our value proposition and positions us for further growth.”

Post-acquisition, the combined operations and assets will be rebranded as “medSR,” operating independently, CareCloud said. Jerry Howell will remain MedMatica’s CEO, the company noted.

Crosstree served as CareCloud’s advisers in connection with the deal.