Private Equity Firms Invest in Leading Homecare Software Provider
DALLAS—March 1, 2011—Homecare Homebase LLC, a leading provider of home health and hospice agency software, has successfully completed a growth recapitalization. Led jointly by Cressey & Company LP, a leading private equity investment firm focused on building healthcare services businesses, and SV Life Sciences, a leading international life sciences venture capital firm, the equity investment in Homecare Homebase will strengthen the company’s leadership position in the home health and hospice software industry.
According to April Anthony, CEO of Homecare Homebase, ʺWe are enthusiastic about our partnership with Cressey & Company and SV Life Sciences. We believe that the two firms share our goal of expanding Homecare Homebase’s exceptional product functionality as well as its ability to provide advanced, integrated software solutions to homecare and hospice agencies.ʺ
“Homecare Homebase is emerging as the gold standard for homecare and hospice technology. Cressey & Company looks forward to helping the company continue its impressive record of growth and achievement,” said Peter Ehrich, Partner at Cressey & Company. “Homecare Homebase offers an attractive combination of enhancing the quality and productivity of home health services, a powerful combination in today’s environment of escalating costs and heightened performance and patient satisfaction requirements.”
ʺWe are excited to be partnering with Homecare Homebase,” said Gene Hill, Partner at SV Life Sciences. “Healthcare IT represents a crucial part of achieving reductions in healthcare costs and increasing the accuracy and efficiency of clinical, operational, and financial data. We believe Homecare Homebase is well positioned to be a leader in this emerging and vital sector.ʺ
Concurrent with the recapitalization, Stephen N. Kahane, MD will also be joining the Homecare Homebase Board of Directors. Dr. Kahane brings more than 30 years of experience on the front lines of care, as well as driving growth and profitability for a number of healthcare IT businesses. Dr. Kahane currently serves as President of the Enterprise Services Group at athenahealth, Inc. and was, immediately prior, responsible for leading significant revenue growth and a successful sale of AMICAS, an image and information management solutions company, as CEO.
About Homecare Homebase LLC
Homecare Homebase, based in Dallas, Texas, is a leading healthcare software company serving the technology needs of the fast growing homecare and hospice industry. Named 2010 Best in KLAS for Homecare by KLAS in the “2010 Top 20 Best in KLAS Awards: Software & Professional Services” report, Homecare Homebase offers a comprehensive integrated web‐ based software solution to improve the clinical, operational and financial success of homecare and hospice agencies. Homecare Homebase enables real‐time, wireless information exchange and communication between office staff, field staff and physicians; automates workflow processes; enables accurate billing through numerous integrated checks and balances; and, provides powerful management reporting via a back‐office data analysis tool that ties together all agency operational information. Founded by industry veterans in 1999, every aspect of the Homecare Homebase system was developed to be user‐friendly, flexible and customizable to specific agency needs. For more information, visit www.hchb.com or contact Homecare Homebase at 1‐866‐535‐HCHB (4242).
About SV Life Sciences
SV Life Sciences (www.svlsa.com) is a leading international life sciences venture capital firm. SVLS affiliated funds have been investing in life sciences companies since the early 1980s and closed its first dedicated life sciences fund in 1994. The SVLS team manages five venture capital funds and a publicly traded investment trust with approximately $2 billion of capital under management. The firm employs a diversified strategy within life sciences in order to selectively capitalize on an expanding opportunity in biotech, medical devices, healthcare technology and health‐care services. SVLS has offices in Boston, London and San Francisco.