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.