WellSky, a health and community care technology company backed by TPG Capital, has entered into an agreement to acquire ClearCare Inc., a personal care technology platform. Financial terms of the deal were not disclosed.
The deal further solidifies WellSky’s dominance in the home-based care arena, especially because it comes on the heels of ClearCare’s partnership with Amedisys Inc. (Nasdaq: AMED), which was developed earlier this year to form a national personal care network.
The move should come as no surprise to those who have been following WellSky closely, according to CEO Bill Miller.
“You’ve seen us be very aggressive about expanding into all of the arenas of post-acute care,” Miller told Home Health Care News. “I think it was a matter of time [before] we addressed a really interesting part of the post-acute care continuum. This was a natural progression of WellSky.”
WellSky is an international software and professional services company that has more than 10,000 clients, including home health providers, hospital systems, blood banks, labs, hospices, government agencies and human services organizations.
The company was born in 2018 when Mediware rebranded as part of a concerted effort to break into the home health and hospice market through its acquisition of Kinnser Software — and later of MEDTranDirect, Rock-Pond and BlueStrata.
San Francisco-based ClearCare provides caregiver scheduling, billing and other software solutions to more than 4,000 home care agencies.
“For our customers, this means connectivity to other parts of the health care continuum: home health, hospice, home infusion,” Geoffrey Nudd, CEO of ClearCare, told HHCN. “It means being part of the value that’s so critical to health plans and payers.”
In July, ClearCare teamed up with Amedisys to create a national network of personal care agencies, connecting Amedisys home health centers and non-Amedisys personal care agencies and using ClearCare to coordinate care. The goal is to appeal to Medicare Advantage plans and better care for patients.
Now, WellSky will also reap benefits from that relationship.
“WellSky, ClearCare and Amedisys share a common goal of improving the health and quality of life for our nation’s vulnerable populations,” Paul Kusserow, CEO and president of Amedisys, said a press release announcing the news. “It’s clear that we all view better patient care as our ultimate priority, and we look forward to building our relationship further.”
As part of the agreement, Overland Park, Kansas-based WellSky will invest in ClearCare’s software platform. The deal will also enable WellSky to offer its clients additional software and services.
“Every company has an inflection point where they have to make a determination of when is the right time to take on a relationship such as this,” Miller said. “Looking at the market and leverage that [ClearCare] could get by working with WellSky and our clients, it’s a new level of scale and resources.”