MINNEAPOLIS--(BUSINESS WIRE)--TripleTree, LLC, a strategic advisor and merchant bank serving innovative companies in healthcare, is pleased to announce that its client, HEALTHCAREfirst, a provider of software solutions and services for home health and hospice agencies, has entered into a definitive agreement to be acquired by ResMed, a global leader in connected healthcare solutions.
The transaction’s financial terms were not disclosed. The transaction is expected to be finalized before the end of the first quarter of ResMed’s fiscal year 2019 (September 30, 2018), subject to customary closing conditions, including regulatory approvals.
HEALTHCAREfirst offers electronic health record (EHR) software, billing and coding services, and advanced analytics that enable home health and hospice agencies to optimize their clinical, financial and administrative processes. HEALTHCAREfirst will complement ResMed’s existing software solutions offered by Brightree, a wholly owned subsidiary ranked as one of the top 100 healthcare IT companies in the United States.
“Joining ResMed, with their purpose of changing lives with every breath, is an exciting opportunity for our HEALTHCAREfirst team, as our joint mission is linked to improving quality of life for patients in out-of-hospital healthcare,” said J. Kevin Porter, HEALTHCAREfirst’s President and CEO. “We are thrilled to have partnered with TripleTree, whose dedicated team and unrivaled experience in the EHR and post-acute markets are essential to achieving this successful outcome.”
“HEALTHCAREfirst serves as a core technology backbone for managing all aspects of a home health and hospice agency’s operations,” said Brian Klemenhagen, TripleTree Managing Director. “The outcome of this transaction is outstanding – for our client HEALTHCAREfirst, the acquirer ResMed, its customers and the industry overall. HEALTHCAREfirst is a highly complementary addition to ResMed’s growth strategy and will unlock significant value for home health and hospice businesses throughout the United States.”
TripleTree acted as the exclusive financial advisor to HEALTHCAREfirst for this transaction.
TripleTree is an independent merchant bank focused on mergers and acquisitions, growth capital, recapitalizations, strategic advisory and principal investing. Since 1997, the firm has advised and invested in some of the most innovative, high-growth businesses in healthcare. For more, visit Triple-Tree.com.
HEALTHCAREfirst provides cloud-based technologies and services to improve business and clinical operations for thousands home health and hospice providers across the United States. Based in Springfield, MO, and one of the fastest growing providers of its kind, the company provides agency and clinical management software, outsourced revenue cycle management services (billing, coding and OASIS Review), CAHPS surveys, and advanced analytics, in any combination. HEALTHCAREfirst’s breadth of solutions offers agencies a single source to improve patient care, create operational efficiencies, increase profitability and simplify CMS compliance. With HEALTHCAREfirst, agencies can focus on patients instead of paperwork. For more information call 800.841.6095 or visit healthcarefirst.com.