Jeremy Bikman, Executive VP, Research and Strategy, KLAS Enterprises, Orem, UT. The recent KLAS Merger & Acquisition study answers these basic questions: How has M&A activity in the HIT market impacted client satisfaction? Which vendors have successfully conducted M&A activity, and which have not (from the client’s perspective)? Which strategy contributes to higher client satisfaction – internal development or external acquisition? How do P/E firms and investment banks perform as owners of HIT vendors? And finally, public vs. private – the impact of an IPO.