CareFacts Sold to Private Equity Firm
St. Paul-based CareFacts Information Systems has been acquired by New York-based private equity firm The Riverside Company, the companies announced Tuesday.
Financial terms of the acquisition were not disclosed.
CareFacts provides software for home care, hospice, and public health organizations. Specifically, it builds software solutions that help providers manage clinical and office information-which help improve patient outcomes and profitability.
Under the agreement, CareFacts will be integrated into HealthcareFirst, a Web-based software and services company that is based in Ozark, Missouri and is owned by Riverside. HealthcareFirst also focuses on home care and hospice organizations.
“CareFacts enjoys stellar brand recognition in the Midwest and will be a highly synergistic addition to the HealthcareFirst family,” Riverside Managing Partner Loren Schlachet said in a statement. “This is a great opportunity to expand product offerings for customers while making HealthcareFirst bigger and even more effective.”
The Riverside Company considers itself a “generalist investor,” which specializes in the health care industry. The CareFacts transaction is the company's 52nd acquisition in the health care industry since it was founded in 1988.