[4] It had then been acquired in 1973 by Advanced Computer Techniques (ACT), a New York City-based software company that specialized in language compilers but also engaged in information technology consulting and hosted service bureaus.
[5] In 1989, CSM had stopped sharing physical facilities with the rest of ACT and relocated to Islip, New York on Long Island.
[1][8] James L. Conway, who had previously been an executive for a credit subsidiary of ITT Corporation,[9] became president of Netsmart Technologies in January 1996 and its CEO in April 1998.
[1] The Avatar software suite from Creative Socio-Medics generally cost from $250,000 to $1 million at that time and covered patient tracking, medical records management, and scheduling and billing for both inpatient and outpatient services.
[8] That year it acquired its biggest competitor, CMHC Systems of Ohio, which was especially strong in community mental health centers, for $18 million.
[12] The acquisition was held up for a while in early 2007 when Judge Leo E. Strine, Jr. of the Delaware Court of Chancery barred the sale until management better explained its decision to sell the company to these two particular firms.
The case, In Re: Netsmart Technologies, Inc. Shareholders Litigation, became influential in delineating the responsibilities of management when agreeing to a private equity buyout.
[18] New management came in 2011[19] in the form of CEO Michael G. Valentine and COO Thomas Herzog, both of whom had previously been senior executives at the health care information technology company Cerner in the Kansas City metropolitan area.
[21] Netsmart continued to engage in acquisitions[20] and form alliances, including some in 2012 towards offering cloud services and data mining for behavioral health providers.
[25] In October 2016, Netsmart acquired HealthMEDX, based in Ozark, Missouri, developers of a long-term care electronic health record product.
[29] In June 2020, Netsmart acquired Quality In Real Time (QIRT), a health care IT company based in New York.