Another Win In Healthcare for Cloud Service Provider Fusion (FSNN) Following Acquisition
Fusion (NasdaqCM: FSNN), a leading provider of integrated cloud solutions to small, medium and large businesses, is the industry’s single source for the cloud. Fusion’s advanced, proprietary cloud service platform enables the integration of leading edge solutions in the cloud, including cloud communications, contact center, cloud connectivity, and cloud computing. Fusion’s innovative, yet proven cloud solutions lower their customers’ cost of ownership, and deliver new levels of security, flexibility, scalability, and speed of deployment. For more information, please visit www.fusionconnect.com.
Fusion announced today that a major Northeast teaching hospital and medical center has signed a three year, $640,000 contract with Fusion to upgrade the healthcare institution’s communications infrastructure with secure, high quality cloud solutions that reduce costs and ensure business continuity. The Fusion solution integrates the company’s award-winning cloud communications services with truly diverse cloud connectivity in support of the hospital’s ongoing technology innovation efforts and disaster recovery planning strategies. The hospital looked to Fusion to deliver a solution with built in business continuity that will maintain the security and integrity of patient information as well as minimize any possible downtime.
The hospital cited Fusion’s willingness to engineer a customized solution that solved its key concerns at a competitive price while protecting its existing technology investments. Because Fusion’s cloud solution’s intelligence resides within the company’s advanced cloud services platform, resources can be shared and burstable, enabling the hospital to securely and cost-effectively route traffic based on rapidly changing requirements across its facilities. In combination with true connectivity diversity, this built-in business continuity guarantees additional capacity should the need arise due to a natural or any other emergency.
Russell P. Markman, Fusion’s President of Business Services stated, “Since it first opened as a simple dispensary serving the poor of its community over one hundred years ago, this healthcare institution has pioneered many clinical procedures that have increased the health and well-being of the patients who rely on it for care. The hospital recognized from the start that investing in technology would improve care and reduce costs, and has established a culture of innovation throughout the organization. We are delighted to have been selected as a trusted technology partner to help ensure that the quality of its facilities matches the quality of its clinical services.”
Recently, Fusion (FSNN) also announced that it had acquired Herndon, Virginia-based Apptix, Inc., a wholly-owned subsidiary of Apptix ASA (APP.OL). Apptix provides cloud-based communications, collaboration, virtual desktop, compliance, security and cloud computing solutions to approximately 1,500 business customers throughout the U.S. FSNN management stated that the acquisition significantly expands Fusion’s scale and scope, adding approximately $25 million in annual revenue and $8 million in post-synergy Adjusted EBITDA (a 30% contribution margin), for a total pro forma annual revenue run-rate of approximately $145 million and Adjusted EBITDA of $16 million. Michael Bauer, Fusion’s Chief Financial Officer, stated, “This acquisition is a big step forward to achieving our intermediate financial goals of $200 million in revenue, 50% gross margin and 15% Adjusted EBITDA margin.”
Vista Partners currently has a 12-month target price of $5.50 for Fusion (NasdaqCM: FSNN), To learn more please visit the Vista Partners’ company dedicated page that contains video, commentary, links to financials, filings, news and FREE Report.