Hearst Agrees To Acquire QGenda, a Leader in Healthcare Workforce Management Solutions

NEW YORK, August 12, 2024 -Hearst today announced it has agreed to acquire QGenda, LLC from investment firms Francisco Partners and ICONIQ Growth. QGenda is a leading provider of healthcare workforce management solutions. More than 4,500 organizations, including leading physician groups, hospitals, academic medical centers and health systems use QGenda to advance workforce scheduling, optimize capacity and improve access to care.

The announcement was made by Steven R. Swartz, president and CEO of Hearst; Gregory Dorn, M.D., president of Hearst Health; and Greg Benoit, CEO of QGenda, who will continue to lead the company. Terms were not disclosed. Pending regulatory approval, QGenda will become part of Hearst Health, the healthcare division within Hearst. Hearst Health is currently comprised of market-leading companies FDB, Homecare Homebase, MCG, MHK and Zynx Health. The transaction is expected to close later this year.

Commenting on the acquisition, Swartz said: "We welcome Greg and his fabulous team to Hearst and look forward to working together to make our healthcare system more effective and efficient for patients around the country."

QGenda solutions support more than 45 different specialties across the healthcare market and are utilized by over 700,000 physicians and other healthcare providers, helping customers effectively deploy workforce resources to boost engagement and retention, optimize staffing and reduce labor costs. QGenda's end-to-end workforce management platform, ProviderCloud, reduces time spent on manual tasks by automating complex processes such as rule-heavy provider scheduling workflows and time sheet tracking. Its solutions have been top-ranked by Best in KLAS: Software & Services report over several years.

Dorn noted, "We're always looking for innovative technology solutions that improve the quality, safety and efficiency of healthcare. At a time of clinician shortages, the QGenda platform meets a critical need for organizations looking to optimize clinical team deployment while helping care professionals practice at the top of their license. We welcome everyone on the QGenda team to Hearst Health."

"The entire QGenda team is proud and excited for the opportunity to be part of Hearst Health, and we are forever grateful to our customers and partners for their ongoing dedication to our success as a company," said Benoit. "Joining the Hearst Health group of companies is aligned with our mission to ensure that every patient has the right healthcare provider when and where care is needed."

BofA Securities, Inc. acted as exclusive financial advisor to Hearst in the transaction, and Evercore acted as exclusive financial advisor to QGenda.

About Hearst

Hearst is one of the nation's largest global, diversified information, services and media companies. Hearst has been innovating for more than a century, leading with purpose, integrity and a culture of care, with a mission to inform audiences and improve lives. The company's diverse portfolio includes global financial services leader Fitch Group; Hearst Health, a group of medical information and services businesses; Hearst Transportation, which includes CAMP Systems International, a major provider of software-as-a-service solutions for managing maintenance of jets and helicopters; ownership in cable television networks such as A&E, HISTORY, Lifetime and ESPN; 35 television stations; 24 daily and 52 weekly newspapers; digital services businesses; and more than 200 magazines around the world. Hearst is always moving forward, investing in healthcare solutions to improve patient outcomes and technology that curbs emissions; providing vital analysis, data and software to the global financial services industry; delivering important service and investigative journalism; and inspiring audiences with sports and entertainment programming. With a commitment to maintaining the highest quality in its products and services, Hearst is dedicated to serving the communities it operates in, both civically and philanthropically.

About Hearst Health

The mission of Hearst Health is to help guide the most important care moments by delivering vital information into the hands of everyone who touches a person's health journey. Care guidance from Hearst Health reaches the majority of people in the U.S. The Hearst Health network includes FDB (First Databank), Zynx Health, MCG, Homecare Homebase and MHK. Hearst also holds a minority interest in the precision medicine and oncology analytics company Aster Insights. Follow Hearst Health on X @HearstHealthand LinkedIn @Hearst-Health.

About QGenda

QGenda revolutionizes healthcare workforce management everywhere care is delivered. QGenda ProviderCloud, a purpose-built healthcare platform that empowers customers to effectively deploy workforce resources, includes solutions for scheduling, credentialing, on-call scheduling, room and capacity management, time tracking, compensation management, and workforce analytics. QGenda is headquartered in Atlanta, Georgia. Learn more at QGenda.com.

Media Contacts:
Paul Luthringer, Hearst, [email protected]
Holly Ojalehto, Hearst Health, [email protected]
Mark Geremia, QGenda, [email protected]

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