The purchase price of the deal, announced Monday, is $5 million. The transaction is slated to close at the end of the month.

QHR said Momentum's financial software unit sells its technology to medium to large healthcare operators, the same market QHR targets with its payroll, scheduling and human resource management software.

"Momentum and QHR have worked together as partners since the inception of our two companies, serving a common client base," said Al Hildebrandt, QHR's president and CEO.

"The acquisition of the financial software division gives QHR the opportunity to become the dominant player in providing a comprehensive enterprise management software solution to the healthcare market."

The acquisition is expected to add about $3.5 million in annual revenues to QHR's top line.

The Canadian Press, 2009