Brightree, a provider or billing and business management software solutions for the home medical equipment (HME) market announced the acquisition of CareAnyware.
Based in Raleigh, N.C., Care Anyware provides home health and hospice software and together creates the largest provider of cloud-based software for the post-acute care industry. Combined, the companies have 500 employees serving nearly 3,000 companies in the HME, home health, hospice, orthotics and prosthetics, home infusion, and rehab home care segments.
“Home care is becoming a critical component of our nation’s ability to provide quality care in a more affordable manner,” said David Cormack, president and CEO of Brightree. “Similar to the HME market several years ago, the home health and hospice industry is crowded with disparate, legacy systems that are difficult to use and costly to maintain. Brightree’s proven track record of providing innovative, cloud-based technology solutions and superior customer service will be a very welcome change for many agencies that are still relying on legacy software.”
Combined the organization’s provide software to nearly 3,000 customers and process $10 billion in medical claims annually, servicing the the care needs of more than 20 million patins.
Brightree said it plans to invest $70 million in customer service and product development over the next four years to help its customers navigate the tough regulatory and economic conditions the home care industry is sure to face in 2013 and beyond.
Terms of the deal were not disclosed.
Written by John Yedinak