Epic Systems Corporation Due Diligence

Run due diligence on Epic Systems Corporation: check compliance and get alerts when suppliers or ownership change.

United States · owned by Independent (United States) · www.epic.com · 35 vendors

Epic Systems Corporation develops electronic health record (EHR) software used by hospitals, clinics, and healthcare organizations of all types. Their software supports over 325 million patient records and is used across academic medical centers, community hospitals, independent practices, and more. Epic is employee-owned, developer-led, and invests approximately 35% of operating expenses in R&D.

Resilience scores

Technology vendors

Services catalogue

9 services in catalogue across 3 categories; runs on 35 sub-vendors.

Insights

Last updated 2026-07-09 · revision 18

35 direct vendors, 268 subvendors

Direct vendors by controlling owner country (sample)

Subvendors by controlling owner country (sample)

Compliance

10 in-scope frameworks identified; showing 3.

HIPAA (source) — Evidence found

Evidence: https://www.epic.com/privacypolicies/, https://www.epic.com/what-you-put-up-with-is-what-you-stand-for/, https://www.epic.com/epic/page/data-privacy-framework/, https://www.healthit.gov/topic/certification-ehrs/certification-health-it, https://www.hhs.gov/hipaa/for-professionals/covered-entities/index.html

ONC Health IT Certification — Evidence found

Evidence: https://open.epic.com, https://www.healthit.gov/topic/certification-ehrs/certification-health-it, https://chpl.healthit.gov/, https://www.healthit.gov/topic/interoperability/policy/trusted-exchange-framework-and-common-agreement-tefca

US Data Privacy Framework — Evidence found

Evidence: https://www.epic.com/epic/page/data-privacy-framework/, https://www.dataprivacyframework.gov/list, https://www.epic.com/legal-disclosures/

Financials

Three-year financials

Financial Resilience Score: 9/10

Epic Systems demonstrates exceptional financial resilience despite being a private company with limited public disclosure. The company has a dominant market position in U.S. acute-care hospital EHR software, with the leading market share per KLAS Research. Its business model generates highly recurring revenue through long-term license, hosting, and support contracts with large health systems, and customer retention is extremely high due to prohibitive switching costs in EHR systems. Founder and CEO Judy Faulkner has repeatedly stated that Epic has been profitable every year since founding and carries no debt, having self-funded all growth including its expansive 1,000+ acre Verona, WI campus. The company faces meaningful risks, however. Growth is bumping against a finite number of large U.S. health systems, requiring international expansion and adjacent modules for continued growth. Regulatory pressure from ONC information-blocking rules, TEFCA, and the 21st Century Cures Act creates ongoing compliance burdens. Competition from Oracle Health (Cerner), Meditech, and cloud-native entrants including Microsoft/Google/Amazon on the AI layer is intensifying. Key-person risk around Faulkner and succession, plus antitrust/privacy scrutiny, are additional concerns. The lack of audited financials itself represents an opacity risk for counterparties.

Key strengths: Dominant U.S. EHR market position (leading share per KLAS), Recurring revenue from long-term contracts with large health systems, No external debt and no venture/PE ownership; fully self-funded, Very high customer retention due to prohibitive EHR switching costs, Cash-funded R&D and campus expansion from operating cash flow, Consistently profitable every year since 1979 founding, International traction across Europe, Middle East, Canada, and APAC

Risk factors: Customer concentration in finite U.S. large-hospital segment, Regulatory and interoperability pressure (ONC, TEFCA, Cures Act), Competition from Oracle Health, Meditech, and cloud-native/AI entrants, Key-person and succession risk around founder Judy Faulkner, Antitrust and privacy scrutiny around data access and ecosystem control, Financial opacity itself is a counterparty risk

Revenue by geography

Revenue by product/service

Workforce by country

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