The company intends to use the proceeds from the financing to continue to develop new product offerings.
Following the transaction, some shareholders, including Water Street Healthcare Partners, which acquired the company in 2008, will retain an ownership position in the company. In conjunction with the investment, Dr. Craig Frances, Peter Connolly and Michael Anderson from Summit Partners will join CareCentrix’ Board of Directors.
Founded in 1996 and led by CEO Eric Reimer, CareCentrix is a benefits management company that offers a full range of services including coordination of home nursing, home infusion, home medical equipment and sleep testing. It also offers a program, HomeSTAR, which is designed to reduce the number of hospital readmissions.