The Hearst Corporation has agreed to terms on acquiring 85 percent of Homecare Homebase, LLC. The transaction is expected to close before the end of the year, however terms of the deal have not been disclosed.

Homecare Homebase is an information resource hub for healthcare and homecare providers. The company offers several products including training and consultation, but arguably its best asset is its customizable software that allows real-time information sharing.

Homecare Homebase CEO, April Anthony, suggests in a statement that the deal will enable her company to continue its growth and evolution.

"This new strategic alignment bolsters our position as we move into the future of home delivered services, with a common commitment to the continued development of our current platform and on-going support to provide the most robust, highly-integrated tools available for the home health and hospice industry."

Hearst will integrate Homecare Homebase into its healthcare group, which is a division of Hearst Business Media.

President and CEO of Hearst Corporation, Steven Swartz, rationalizes the deal in a statement by saying, "This investment will expand our commitment to leading the healthcare information industry in an effort to improve the efficiency and affordability of patient care."

Hearst Business media already has significant holdings in the healthcare space with products like Zynx health and MCG. And earlier this year the company named Dr. Justin Graham as its chief innovation officer as a measure to bolster its enterprise in healthcare information technology.