New York, December 4, 2012 — Berkery Noyes announced today that the firm represented Cengage Learning (“Cengage”) in its sale of NetLearning (“NL”) to HeathcareSource (“HCS”). HealthcareSource’s investors include private equity firm Insight Venture Partners (‘Insight”). Terms of the transaction were not disclosed. 

NetLearning is a leader in the healthcare learning management work-flow solutions market, serving hospitals and physician practice groups with electronic training and competency management tools.  Nearly one million active users are currently utilizing NetLearning to conduct ongoing mandatory compliance training that is required by both individual institutions and governing bodies. HealthcareSource, meanwhile, is the leading provider of talent management software solutions for the healthcare industry. The combination of HealthcareSource and NetLearning will result in the first company to provide a complete, end-to-end talent management solution designed specifically for healthcare.

Berkery Noyes has been involved with many of the most notable transactions in the healthcare/life science, technology and information sectors involving both financial and strategic buyers and sellers.

Berkery Noyes acted as Cengage Learning’s exclusive financial advisor in its negotiations with HealthcareSource.

About Berkery Noyes
Berkery Noyes provides strategic mergers and acquisitions (M&A) transaction advisory services to middle-market healthcare, technology and information companies in the United States and internationally.  The firm has advised many notable companies including ExitCare in its sale to Elsevier, Therapeutic Research in its sale to Francisco Partners, H.W. Wilson in its sale to EBSCO and UpToDate in its sale to Wolters Kluwer.  For more information, visit