HealthStream Acquires Virsys12 For Up to $17M In Cash

NASHVILLE, Tenn.--(BUSINESS WIRE)-- HealthStream (Nasdaq: HSTM), a leading healthcare technology platform company for workforce solutions, today announced that it has acquired Virsys12, a healthcare technology company that offers payers and health plans an innovative provider data management suite used for onboarding, credentialing, and network management. With this acquisition, HealthStream expands its existing provider data management and credentialing solution for payers and health plan enterprises, called Network by HealthStream™, launched 14 months ago, which is a part of its broader, market-leading Credentialing application suite.

As of 2025, there are approximately 1,200 health and medical insurance companies in the U.S. that are referenced in the healthcare industry as the "payers." Payers need credentialing software to streamline, secure, and scale the complex process of verifying healthcare providers' qualifications, enrolling them into insurance networks, and actively managing and maintaining those networks. Virsys12's V12 Enterprise® application suite is currently used by payers and providers in nine states across the U.S. to meets these needs. At the core of Virsys12's solution is their intelligent provider data engine that automates ingesting, cleansing, and monitoring and serves as the source of truth for provider records across all applications.