Broadlane Acquires Symbio Solutions

Symbio Solutions, a leading provider of healthcare Vendor Management Services was acquired by Broadlane this week. There were several bidders during the process but Broadlane was the highest bidder.

Symbio filed for Chapter 11 bankruptcy in January of this year after running into financial trouble and failing to pay their staffing agencies in 2009. 

In addition to gaining the Symbio VMS and core staff scheduling technologies, Broadlane secured agreements with Kaleida health, Baptist Health System of San Antonio, Henry Mayo
Newhall Memorial Hospital and The Cooper Health System through the transaction. It's unclear if the creditors owed the millions of dollars will get any of their money back or if Broadlane now owns the debt to the staffing agencies.

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