Health care analytics and business intelligence provider Crimson has been picked up by The Advisory Board Co. (ABCO), a publicly traded Washington, D.C. company. Crimson provides data, analytics and business intelligence software to hospitals, health systems and physician clinics.

The Advisory Board Co. purchased Austin-based Crimson, which will continue operations as a subsidiary of the Washington firm. The initial purchase price is approximately $23 million, but that figure would increase with additional payments made if certain performance milestones are met by March 31, 2010.

“We are very excited to work as part of The Advisory Board team and to continue building innovative physician management solutions for hospital and physician organizations,” says Crimson CEO Michael Kadyan. “The Advisory Board’s rock-solid operations, sales and support infrastructure and national member base will serve to expand our original vision at Crimson and enable us to further accelerate product development and services to customers.”

The Advisory Board Co. serves a membership of more than 2,700 hospitals, health systems, universities and other mission-driven enterprises with services including research, executive education and development, decision-support tools, and consulting.

Let us hear your thoughts below: