MediSolution Ltd. of Montreal is this year’s fastest rising solution provider, according to the CDN Top 100 Solution Providers rankings.
The company, which was founded back in 1974 as a spin-ff of Industrial Alliance, moved up an amazing 43 spots to No. 25 with revenues between $45 to $50 million in 2005. This jump is the biggest in the history of the Top 100 ranking. MediSolution was No. 68 in the previous list with revenue between $10 to $20 million.
With offices in Montreal, Quebec City, Laval, Que., London, Ont., Mississauga, Ont., and New York, the solution provider more than doubled its revenue by focusing strictly on the health care market, which increased its spending last year.
“Heath care has been the main focus sector for the company, but we have always had payroll customers in the public sector,” said Paul Lepage, president and COO of MediSolution.
Lepage added that his company’s success resulted from executing the strategic plan over the past year and sharpening its focus on growth markets. “Our solutions allow our customers to maximize operational efficiencies with their organizations, lower their costs and improve the delivery of their services, which has been key to our success,” Lepage said.
In May of 2004, MediSolution acquired Conseillers Info-Orientes Inc. (CIO), a provider of integrated financial applications for service industries. Lepage said this acquisition provided the company with the ability to significantly increase its presence in the public sector and other service industries.
MediSolution provides software and services to more than 500 hospitals, clinics, home care facilities, pharmacies and other health care providers and 200 public sector customers in Canada and the U.S.
The 370-person company’s flagship solutions are Healthcare Information Systems (HIS) and Resource Management (RM).
Both address the demands of managing electronic health records and administration, while increasing operational efficiencies, lowering costs, and improving the delivery of patient care.
RM, for example, can manage accounts receivables, budgeting and materials management.
Meanwhile, HIS is comprised of clinical solutions such as patient tracking, electronic patient health records, pharmacy, radiology and laboratory software for health care facilities.
MediSolution partners include Oracle, Sybase, and Microsoft along with ISVs in4tek and Technidata. The company also partners with system integrators such as CGI.