Netsmart Technologies, Inc., a Overland Park, Kansas-based healthcare software company delivering management process solutions and electronic medical records to the health and human services (HHS) and post-acute end markets, received an investment of undisclosed amount.
Backers included TA Associates and GI Partners, a current shareholder in Netsmart, which will acquire the stake in Netsmart held by Allscripts Healthcare Solutions, Inc. (NASDAQ: MDRX). The transaction is expected to close in the fourth quarter of 2018 and is subject to customary closing conditions. In conjunction with the deal, Mark H. Carter, a Managing Director at TA Associates, and Hythem T. El-Nazer, a Managing Director at TA Associates, will join the Netsmart board of directors.
Founded in 1968 and led by CEO Mike Valentine, Netsmart provides software and services to the HHS and post-acute markets. The company’s products, comprised primarily of electronic health records (EHRs) and related offerings, address the clinical, financial and administrative needs of its clients. The Netsmart suite includes:
– care coordination,
– connectivity and integration,
– consumer engagement,
– mobility, and
– telehealth offerings,
– among others.
The company serves more than 600,000 users from over 25,000 organizations across the country within four core areas:
– behavioral health,
– social services,
– care at home, and
– senior living.
Netsmart has additional offices in Arkansas, California, Illinois, Missouri, New York, North Carolina and Ohio.