Software company Mediware has acquired Fazzi Associates, a firm that provides consulting and other services to the home care and hospice industry.
Mediware is a portfolio company of TPG Capital, a private equity giant that also owns a stake in the nation’s largest home health and hospice provider.
Northampton, Massachusetts-based Fazzi serves more than 1,400 agencies across the country. It provides coding services as well as consulting, training and a variety of other offerings.
Mediware is based in Lenexa, Kansas. In addition to home health, private duty and hospice software, it offers products tailored to behavioral health, HME/IV/specialty pharmacy and blood management. Mediware brands for home health and private duty include Kinnser and HomeCare360.
“Fazzi Associates complements the Mediware family and further strengthens our ability to advance high-quality and efficient patient care while also driving down health care costs,” said Bill Miller, CEO of Mediware, in a press release issued Thursday. “Fazzi Associates’ extensive industry knowledge and insights will help us identify potential new opportunities for expansion which is core to Mediware’s long-term growth strategy.”
Business will continue as usual for Fazzi, which will maintain its current headquarters and staff. Tim Ashe will continue to serve as president of the firm, and founder Dr. Robert Fazzi will serve as a strategic advisor to Mediware.
“By joining the Mediware portfolio, Fazzi Associates will have access to new resources, including investments in technology and infrastructure that will enable us to deliver an even more advanced suite of offerings to the entire post-acute market,” Ashe wrote in a post on the Fazzi website.
Financial terms of the deal were not disclosed.
The announcement of the Fazzi acquisition came one day after news that TPG Capital and its partners—private equity firm Welsh, Carson, Anderson & Stowe and insurance giant Humana (NYSE: HUM)—had closed their $1.4 billion acquisition of hospice provider Curo Health Services. The three firms previously acquired Kindred at Home, the nation’s largest home health care provider. With the addition of Curo, the combined entity will also be the largest hospice provider in the United States.
Written by Tim Mullaney