The health care technology company WellSky has acquired the post-acute care software firm Experience Care. Financial terms were not disclosed.
Experience Care has developed an electronic health record (EHR) platform and financial solution designed for long-term care facilities. The system can also help long term care operators ensure that residents receive appropriate care at the right time, according to Tim Ashe, chief clinical officer at WellSky.
“Hospice is provided inpatient settings, and so we will continue to partner through our hospice provider network and our long term care network and make sure that patients are receiving the most appropriate care in the most appropriate care setting,” Ashe told Hospice News. “[The Experience Care transaction] expands our ability, through all of the clients that Experience Care serves, to make sure that the patients being served by those clients receive the most appropriate care, including palliative and hospice services.”
The deal reflects a broader strategy at Wellsky to build out “full-suite” capabilities for each of the end markets it serves, according to Ashe. This objective has driven the majority of WellSky’s investments during the past five years, he said.
Kansas-based WellSky provides software and analytics to more than 20,000 client sites, including, hospital systems, blood banks, cell therapy labs, home health and hospice and other post-acute providers, government agencies and human services organizations.
The company has had an eye on Experience Care as a possible acquisition target, attracted by a clinical software solution that is integrated with back-office financial software, as well as other capabilities, Ashe said.
Going forward, the combined company will make further investments in care coordination, analytics and interoperability systems, designed to strengthen reimbursement and overall financial performance, WellSky indicated in a press release.
“Long term care was one of the areas that we had a keen interest in acquiring or building,” Ashe said. “So Experience Care is the perfect fit for WellSky as we really look to advance and improve providers’ ability to care for patients that need long term care services safely, efficiently and from a quality perspective.”