EMR Firm Careficient Acquires Net Health’s Hospice, Home Health and RCM Product Lines

The electronic medical record (EMR) company Careficient Inc., has acquired Net Health’s home health, hospice, home care and palliative business, as well as its revenue cycle monitoring (RCM) products.

Net Health, an EMR and analytics firm, divested its HealthWyse, Hospicesoft and RCM division to refocus on its core rehab therapy and wound care lines, the company reported in a press release. Financial terms were undisclosed.

Careficient will retain the HealthWyse and Hospicesoft brands, which NetHealth acquired in 2021 and 2019 respectively.

“As we deepen and expand our offerings in our core specialty areas, we wanted to make sure our home health and hospice customers and employees got the resources and attention they deserve, and we are confident we found that in Careficient,” Josh Pickus, Net Health’s CEO, said in a statement. “Divesting these product lines will ensure that both customers and employees have an opportunity to grow, supported by a company solely focused on home health and hospice.”

Net Health is a portfolio company of The Carlyle Group, Level Equity and Silversmith Capital Partners.

Careficient has been on a growth trajectory in recent years. In 2022 the company ranked 1,678th on Inc. magazine’s annual list of the 5,000 fastest-growing private companies the United States.

Late last year, the Florida-based tech firm began partnering with the hospice pharmacy and benefits company Enclara Pharmacia to streamline medication management through Careficient’s EMR systems. Earlier in 2022, the company established a similar integration with BetterRx.

“The [Net Health products] acquisition will mean an increase of more than 750 client locations in 39 states and a new team of talented employees to our team to help support our growing business,” Careficient founder and CEO Bill Creach said in a statement. “The rapid growth Careficient has experienced in the past two years demonstrates that our solutions and ‘customer for life’ approach is making a significant impact.”