Five-year agreement includes co-development of new courseware,
HealthStream's Learning Center & Compliance Solution for approximately
50,000 Brookdale associates, and HealthStream's Competency Center
NASHVILLE, Tenn.--(BUSINESS WIRE)--
HealthStream, Inc. (NASDAQ: HSTM), a leading provider of learning,
talent management, and research solutions for the healthcare industry,
today announced that Brookdale Senior Living Inc. selected
HealthStream's solutions to continue to develop their workforce of
approximately 50,000 associates and meet their compliance training
requirements. Through the five-year agreement, HealthStream's Learning
Center, Compliance Solution for long term care organizations, and
Competency Center will be used by Brookdale, enterprise-wide.
HealthStream and Brookdale will also co-develop and introduce to the
market new courseware that targets the needs of the senior living
workforce.
HealthStream's solutions will help ensure that Brookdale's associates
remain highly skilled and competent in the care delivered to the growing
senior population. According to U.S. Census data, the number of
individuals age 75 and older in the U.S. is expected to grow by 1.1
million by 2015. As the largest provider of senior housing in the U.S.,
Brookdale's approximately 50,000 skilled associates serve the needs of
seniors through independent living, assisted living, memory care,
skilled nursing and home health services. They provide services in 650
communities in 36 states with a capacity to serve approximately 67,000
residents.
"Through our agreement with HealthStream, we are investing in the
continued development of our associates who are continuously fulfilling
our mission to enrich the lives of our residents and their families,"
said Glenn Maul, Chief People Officer, Brookdale Senior Living Inc. "We
look forward to working with HealthStream to implement their solutions
and partner with them to develop learning tools that will benefit the
senior living industry."
Together, Brookdale and HealthStream plan to co-develop new courseware
for the expanding senior care market. By joining the largest provider of
senior living services with the largest provider of learning and talent
management solutions in healthcare, a unique opportunity is created to
innovate and produce quality courseware for the senior care workforce.
Newly developed courseware resulting from this partnership will be
offered exclusively through HealthStream to the senior care—and more
generally—the post-acute care markets.
"As we recently announced HealthStream's plan to begin offering our
learning and talent management solutions to the post-acute care market,
we are delighted to have a company as progressive as Brookdale join
HealthStream's network of healthcare organization customers," said
Robert A. Frist, Jr., Chief Executive Officer, HealthStream. "It is
apparent that Brookdale strives to provide their residents the highest
quality of care and services possible. Their strong commitment to
support their associates who deliver senior care and services is evident
through their decision to provide HealthStream's learning and workforce
development solutions. I look forward to working with them in the coming
months and years."
About HealthStream
HealthStream (NASDAQ: HSTM) is dedicated to improving patient outcomes
through the development of healthcare organizations' greatest asset:
their people. Our unified suite of software-as-a-service (SaaS)
solutions are used by, collectively, over three million healthcare
employees in the U.S. for training & learning management, talent
management, performance assessment, and managing simulation-based
education programs. Our research solutions provide valuable insight to
healthcare providers to meet HCAHPS requirements, engage their
workforce, and enhance physician alignment. Based in Nashville,
Tennessee, HealthStream has additional offices in Laurel, Maryland,
Austin, Texas, and Brentwood, Tennessee. For more information, visit http://www.healthstream.com
or call 800-933-9293.
This press release contains forward-looking statements that involve
risks and uncertainties regarding HealthStream. Investors are
cautioned that such results or events predicted in these statements may
differ materially from actual future events or results. This information
has been, or in the future may be, included in reliance on the "safe
harbor" provisions of the Private Securities Litigation Reform Act of
1995. Investors are cautioned that such results or events predicted in
these statements may differ materially from actual future events or
results. The Company's preliminary financial results, while presented
with numerical specificity, are forward-looking statements which are
based on a variety of assumptions regarding the Company's operating
performance that may not be realized, and which are subject to
significant uncertainties and potential contingencies associated with
the Company's financial and accounting procedures and other matters
referenced from time to time in the Company's filings with the
Securities and Exchange Commission. Consequently, such forward-looking
information should not be regarded as a representation or warranty by
the Company that such projections will be realized.
HealthStream, Inc.
Mollie Condra, Ph.D., 615-301-3237
Associate
Vice President, Investor Relations & Communications
Mollie.condra@healthstream.com
Source: HealthStream, Inc.
News Provided by Acquire Media
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