Combination creates the largest provider of SaaS-based healthcare
IT (HCIT) software solutions for the post-acute care industry
ATLANTA – January 4, 2013 – Brightree LLC, the leading provider of
billing and business management software solutions for the home medical
equipment (HME) market, announced today that it has acquired home health
and hospice software provider CareAnyware, Inc. of Raleigh, N.C. The
combination creates the largest provider of cloud-based software for the
post-acute care industry, with 500 employees serving nearly 3,000
companies in the HME, home health, hospice, orthotics and prosthetics,
home infusion, and rehab home care segments.
“Home care is becoming a critical component of our nation’s ability
to provide quality care in a more affordable manner. Brightree and
CareAnyware have come together to deliver world-class technology
solutions that help providers operate more effectively and improve
patient outcomes in today’s challenging healthcare market,” said David
Cormack, president and CEO of Brightree. “Similar to the HME market
several years ago, the home health and hospice industry is crowded with
disparate, legacy systems that are difficult to use and costly to
maintain. Brightree’s proven track record of providing innovative,
cloud-based technology solutions and superior customer service will be a
very welcome change for many agencies that are still relying on legacy
Brightree and CareAnyware are both SaaS-based solutions that allow
home care providers to adapt more readily to regulatory changes and new
market demands, such as safely sharing patient information across the
continuum of care. Brightree plans to leverage each software’s
capabilities to improve the other. For example, CareAnyware’s 10 years
of experience building clinical expertise will help Brightree develop
new point-of-care and outcomes-tracking capabilities for HME providers.
In addition, Brightree’s billing and business automation leadership over
the last 10 years will benefit CareAnyware customers by providing new
efficiencies in their back-office operations and patient contact
According to Rich Guerin, former CEO of CareAnyware and current EVP
at Brightree, “The Brightree and CareAnyware teams have a unified
mission ─ to provide best-in-class automation software that helps home
care businesses maximize efficiencies, enhance patient outcomes, and
grow their businesses. Together, we have an opportunity to build upon
our track records of innovation and customer service to meet the rapidly
changing needs of our industry. Our customers can also be confident the
acquisition creates a strong financial position for our business,
enabling us to continue investing in their long-term success.”
The combined organization’s nearly 3,000 customers process $10
billion of medical claims annually and are responsible for servicing the
home care needs of more than 20 million patients. With Brightree’s
planned $70 million investment in customer service and product
development over the next four years, the company is uniquely positioned
to help its customers navigate the tough regulatory and economic
conditions the home care industry is sure to face in 2013 and beyond.
In 2008, Brightree received funding from Battery Ventures, a $4B
private investment firm, which has helped fuel both organic growth and
complementary acquisitions. The company acquired C&S Billing in
2008, CAU in 2010, and Pacware in 2011. Brightree continues to receive
industry accolades, and in 2011 and 2012 was ranked among the fastest
growing private companies in the U.S. on the Inc. 500/5000 list. In
2012, it was also named by the Association for Corporate Growth (ACG)
Atlanta as the fourth fastest-growing company in Georgia for the second
Visit www.brightree.com/careanyware for more information or to contact Brightree about solutions for HME, home health, and hospice.
# # #
About Brightree LLC
Brightree is the leading provider of billing and business management
software solutions for home medical equipment (HME) providers, orthotics
and prosthetics (O&P) practitioners, and sleep labs. Brightree's
SaaS-based software solutions follow the natural workflow of providers
to automate and improve how they manage their businesses. Brightree is
the only business management software solution endorsed by Invacare
Corporation as well as the VGM member service organization. For further
www.brightree.com or call 888.598.7797, ext. 5.
About CareAnyware, Inc.
CareAnyware provides a web-based EMR software platform that delivers
the clinical and operational tools needed to provide best-in-class
clinical care with operational efficiency, compliance and ROI to home
health and hospice organizations in 35 states. With fully mobile and
cloud-based tools, the CareAnyware system is easy for clinicians to
learn and allows administrators to better manage their organizations.
Find out more by visiting
www.CareAnyware.com or calling 866.260.4630.
About Battery Ventures
Since 1983, Battery has been investing in technology and innovation
worldwide. The firm partners with entrepreneurs and management teams
across technology sectors, geographies and stages of a company’s life,
from Seed and Early Venture, to Growth and Buyouts. Battery’s previous
and active portfolio of software companies includes: Avalara,
Bazaarvoice (IPO), Brightree, Consona (acquired by Vista Equity
Partners), Continuuity, Coupa, Drillinginfo, ExactTarget (IPO),
Healthvision (acquired by Lawson), ITA Software (acquired by Google),
Marketo, Neolane, Omniture (IPO), Panaya, Platfora and Vero Software.
Battery invests worldwide from offices in Boston, Silicon Valley and
Israel. The firm has raised more than $4B since inception and is
currently investing a $750M fund. For more information, visit
www.battery.com. Follow Battery on Twitter.
Brightree and CareAnyware are registered trademarks of Brightree LLC.