WellSky, a health and community care technology company backed by TPG Capital, has acquired Consolo Services Group, formerly a portfolio company of Bluff Point Associates that provides healthcare IT services with a focus on hospice.
Financial terms are not being disclosed.
The deal expands WellSky’s investment in hospice and offers an entry point into other markets Consolo specializes in, such as palliative care, adult day care and memory care. Previously known as Mediware, WellSky is creating a large platform of technologies and services with a focus on the post-acute market, including home health. Its PE backer TPG also is part owner of Kindred at Home, the nation’s largest home health provider.
Lenexa, Kansas-based WellSky pursued Lexington, Kentucky-based Consolo because of the pair’s similarities in terms of technology and culture, WellSky CEO Bill Miller told Home Health Care News in an email.
“We’re both originators of high quality, web-based EHR platforms, we’re both at the forefront of technology in this space, and we’re both dedicated to innovation that empowers better care,” Miller said. “We’re incredibly excited that acquiring Consolo expands our investment in hospice technology, while also adding solutions for the palliative care, adult day care, and memory care markets.”
Consolo is WellSky’s fifth strategic acquisition in the space this year. Others include MEDTranDirect, Rock-Pond, BlueStrata and Fazzi Associates, a firm that provides consulting and other services to more than 1,400 home health and hospice industries across the U.S.
“Several of our acquisitions in 2018 added both depth and breadth to WellSky’s suite of post-acute care offerings,” Miller said. “Now together, WellSky and Consolo are two industry innovators sharing knowledge, expertise, and technology to deliver the most comprehensive solutions across post-acute care.”
The pairing will also help post-acute care providers fulfill regulatory demands and meet patient needs, according to a release announcing the deal.
Looking ahead, WellSky doesn’t have any plans to slow its home care and hospice growth, Miller said.
“As we look forward to 2019, we will continue to actively seek out opportunities to provide solutions that better serve even more settings of care,” Miller said. “At the same time, we will continue identifying new opportunities to ensure our customers’ success.”
Written by Bailey Bryant