Casamba forms merger with HealthWyse and TherapySource

Healthcare industry software provider Casamba has merged with two complementary companies HealthWyse and TherapySource (formerly SourceMedical‘s therapy unit). No financial terms were disclosed. Casamba and SourceMedical are backed by ABRY Partners, which represented both companies in the transaction while AGC Partners represented HealthWyse.

PRESS RELEASE

AGOURA HILLS, Calif.–(BUSINESS WIRE)–Casamba LLC announced today its merger with two other leading software companies in the post-acute healthcare industry. Effective immediately, HealthWyse of Boston, MA, and TherapySource of Birmingham, AL (former therapy division of Source Medical) have joined the Casamba family of companies. The merger supports Casamba’s vision to deliver a comprehensive solution across the patient post-acute care continuum.

The addition of HealthWyse and TherapySource as two leading industry solution providers – combined with Casamba’s therapy-management business – creates a powerful triad of solution providers in the post-acute space. The new, collaborative alliance is expected to enable solutions that cross boundaries to deliver enhanced, lower-cost efficiencies with increased value to providers, while simultaneously supporting them in delivering better care to patients.

“We are pleased to join forces with HealthWyse and TherapySource to enhance our offering, and support current and future clients of all three organizations with superior software and services,” said Ronnie Amrany, President and CEO of Casamba. “In this era of bundled payments, we will enable providers to optimize their delivery of care across the continuum, while tightening their revenue cycle.”

“HealthWyse is excited to be part of the Casamba vision for post-acute care EMR,” said HealthWyse CEO Graham Barnes. “Together we will realize an integrated pathway to post-acute care coordination, patient referral, and data flow for bundled payment and value-based purchasing.”

“Our healthcare clients need better systems and more integration,” said David McMullen, Chief Therapy Officer for TherapySource. “The combination of these three market leaders, working together, empowers us to drive revolutionary workflow innovation through a single platform.”

The products and services from HealthWyse provide a fully integrated electronic medical record (EMR) for home health, hospice and private-duty care that serves the clinical, financial and regulatory needs of these market segments. TherapySource provides clinical and billing solutions to more than 3,500 outpatient therapy clinics across the country through its TherapySource, Rehab Toolkit, and Revenue Cycle Services solutions.

Boston-based private equity investment firm Abry Partners represented both Casamba and SourceMed in the transaction. AGC Partners, also based in Boston, represented the HealthWyse organization.

About Casamba, LLC
Founded in 2004 and headquartered in Agoura Hills, CA, Casamba is the leading supplier of enterprise software systems to large therapy providers across the United States. Through its cloud-based platform, Casamba provides comprehensive clinical therapy documentation, scheduling and billing automation solutions for contract therapy and other healthcare organizations. Casamba serves more than 8,000 skilled nursing, acute, outpatient and home health locations nationwide. http://www.casamba.net.

About HealthWyse
Founded in 1998, HealthWyse, LLC provides integrated clinical and financial information software and services to over 125 home health, hospice and private duty agencies across the nation, with almost $1B in claims processed each year. The HealthWyse suite, accessed by over 50,000 end-users, is a fully integrated EMR solution that seamlessly supports billing, scheduling, compliance and point of care operations, addressing clinical, financial and regulatory challenges. http://www.healthwyse.com

About SourceMed
SourceMed is the largest provider of outpatient information solutions and revenue cycle services for ambulatory surgery centers and specialty hospitals. With over 30 years of industry experience and the confidence of more than 250 consultants and management companies, the company’s software, analytics, revenue cycle services, and professional services give providers the insight to deliver a higher standard of patient care. Their integrated solutions capture, exchange, and analyze data enabling more than 2,500 outpatient surgery facilities nationwide to optimize revenue, operational efficiency, and compliance.