Welsh, Carson, Anderson & Stowe, a New York-based private equity firm that focuses on healthcare, along with information and business services, has completed its acquisition of the interactive software company GetWellNetwork, whose technology enables patients to view movies, access the Internet and more via their hospital bedside TVs.
Welsh, Carson, Anderson & Stowe (“WCAS”), a private equity firm exclusively focused on information/business services and healthcare, today announced the completion of the acquisition of GetWellNetwork®, Inc., the leading provider of Interactive Patient Care™ solutions. The GetWellNetwork solution is deployed in over 30,000 hospital beds nationwide and facilitates over seven million patient interactions per year.
“WCAS has the unique combination of investment experience, industry focus and capital resources that will add significant value to expanding and differentiating our solution and delivering services and support to our clients.”
“GetWellNetwork is the most innovative and rapidly growing company delivering patient engagement solutions to healthcare providers,” said Michael Donovan, General Partner of WCAS. “Patient engagement and satisfaction have emerged as a business imperative and critical area of focus for the healthcare industry, and as a result, we are excited about the future opportunities that lie ahead for GetWellNetwork.”
GetWellNetwork’s solutions help healthcare providers engage, educate and empower patients along the care continuum. The Company’s patient-centered platform, delivered across multiple technology platforms including mobile devices, computers and televisions, enables providers to implement a revolutionary care delivery model called Interactive Patient Care to improve performance and patient outcomes. The Company further extends the value of existing IT investments by integrating seamlessly with electronic medical record and patient portal applications.
“We are extremely proud to partner with Welsh, Carson, Anderson & Stowe on the next chapter of our journey to build a platform for patient engagement for the world’s leading healthcare providers.” said Michael O’Neil, Founder and Chief Executive Officer of GetWellNetwork. “WCAS has the unique combination of investment experience, industry focus and capital resources that will add significant value to expanding and differentiating our solution and delivering services and support to our clients.”
Founded in 2000, GetWellNetwork has led the development of the Interactive Patient Care market, which is estimated at over $1 billion and growing significantly. For a third consecutive year, GetWellNetwork was recognized by KLAS® as the leader in the Interactive Patient Systems category and is also exclusively endorsed by the American Hospital Association. The Company has more than 190 employees across the U.S.
About Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe focuses its investment activity in two target industries, information/business services and healthcare. Since its founding in 1979, WCAS has organized 15 limited partnerships with total capital of $20 billion. WCAS is currently investing an equity fund, Welsh, Carson, Anderson & Stowe XI, L.P. See www.welshcarson.com to learn more.